The Hanover Insurance Group, Inc. (NYSE:THG) Sees Significant Decline in Short Interest

The Hanover Insurance Group, Inc. (NYSE:THG) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 211,200 shares, a decline of 33.1% from the November 15th total of 315,500 shares. Based on an average daily volume of 180,400 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.6% of the shares of the company are short sold.

The Hanover Insurance Group Price Performance

THG traded down $0.07 on Friday, reaching $154.12. 138,534 shares of the company’s stock were exchanged, compared to its average volume of 175,462. The stock has a market cap of $5.55 billion, a PE ratio of 15.29 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The Hanover Insurance Group has a twelve month low of $119.36 and a twelve month high of $166.13. The stock’s fifty day moving average price is $156.09 and its 200-day moving average price is $142.19.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts expect that The Hanover Insurance Group will post 11.41 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.90 per share. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.34%. The Hanover Insurance Group’s payout ratio is presently 33.73%.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 6,114 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $162.36, for a total transaction of $992,669.04. Following the sale, the executive vice president now directly owns 54,091 shares of the company’s stock, valued at approximately $8,782,214.76. This trade represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 30,551 shares of company stock valued at $4,781,935 over the last quarter. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in The Hanover Insurance Group during the second quarter worth about $25,000. True Wealth Design LLC acquired a new stake in The Hanover Insurance Group in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in The Hanover Insurance Group in the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in The Hanover Insurance Group during the third quarter worth $30,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of The Hanover Insurance Group in the second quarter valued at $42,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

THG has been the subject of a number of recent analyst reports. Morgan Stanley assumed coverage on shares of The Hanover Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 price objective for the company. Piper Sandler lifted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a report on Thursday, November 21st. Finally, Bank of America upped their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Hanover Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $173.29.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.