The Hanover Insurance Group (NYSE:THG) Hits New 52-Week Low at $108.90

Posted by Defense World Staff on Jul 16th, 2023

The Hanover Insurance Group, Inc. (NYSE:THG – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $108.90 and last traded at $109.08, with a volume of 14333 shares changing hands. The stock had previously closed at $110.79.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TheStreet lowered shares of The Hanover Insurance Group from a “b-” rating to a “c+” rating in a research note on Tuesday, May 9th. StockNews.com assumed coverage on shares of The Hanover Insurance Group in a research note on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler raised shares of The Hanover Insurance Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $155.00 to $153.00 in a research note on Thursday, July 6th. Keefe, Bruyette & Woods cut their price target on shares of The Hanover Insurance Group from $148.00 to $141.00 and set a “market perform” rating on the stock in a report on Tuesday, April 18th. Finally, JMP Securities cut their price target on shares of The Hanover Insurance Group from $170.00 to $160.00 in a report on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $148.43.

The Hanover Insurance Group Stock Down 1.0 %

The stock has a market cap of $3.92 billion, a P/E ratio of -3,653.78, a P/E/G ratio of 0.48 and a beta of 0.68. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average is $114.46 and its 200 day moving average is $125.74.

The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its earnings results on Tuesday, May 2nd. The insurance provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.47 billion. The Hanover Insurance Group had a negative net margin of 0.01% and a positive return on equity of 3.62%. During the same quarter last year, the firm posted $3.26 EPS. As a group, equities research analysts forecast that The Hanover Insurance Group, Inc. will post 6.25 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were issued a $0.81 dividend. The ex-dividend date was Thursday, June 15th. This represents a $3.24 annualized dividend and a yield of 2.95%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently -10,796.40%.

Institutional Trading of The Hanover Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC grew its position in The Hanover Insurance Group by 4.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,285 shares of the insurance provider’s stock worth $444,000 after purchasing an additional 135 shares during the last quarter. Peregrine Capital Management LLC grew its position in The Hanover Insurance Group by 10.0% in the 1st quarter. Peregrine Capital Management LLC now owns 77,711 shares of the insurance provider’s stock worth $9,986,000 after purchasing an additional 7,033 shares during the last quarter. Comerica Bank grew its position in The Hanover Insurance Group by 2.3% in the 4th quarter. Comerica Bank now owns 48,273 shares of the insurance provider’s stock worth $6,435,000 after purchasing an additional 1,108 shares during the last quarter. Alaska Permanent Fund Corp grew its position in The Hanover Insurance Group by 0.5% in the 4th quarter. Alaska Permanent Fund Corp now owns 52,838 shares of the insurance provider’s stock worth $7,140,000 after purchasing an additional 285 shares during the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in The Hanover Insurance Group in the 4th quarter worth $203,000. 85.38% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Company Profile

(Get Free Report)

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.