Short Interest in The Hanover Insurance Group, Inc. (NYSE:THG) Expands By 52.0%

The Hanover Insurance Group, Inc. (NYSE:THG) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 549,800 shares, a growth of 52.0% from the February 28th total of 361,600 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 229,800 shares, the short-interest ratio is presently 2.4 days.

The Hanover Insurance Group Stock Up 0.4 %

THG stock traded up $0.65 during mid-day trading on Tuesday, hitting $174.60. 61,281 shares of the company were exchanged, compared to its average volume of 191,974. The firm has a fifty day simple moving average of $163.82 and a 200 day simple moving average of $157.46. The company has a market capitalization of $6.27 billion, a PE ratio of 14.94 and a beta of 0.65. The Hanover Insurance Group has a twelve month low of $119.66 and a twelve month high of $176.13. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. On average, research analysts forecast that The Hanover Insurance Group will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group’s dividend payout ratio is currently 30.80%.

Insider Activity at The Hanover Insurance Group

In related news, CEO John C. Roche sold 200 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $175.01, for a total transaction of $35,002.00. Following the completion of the sale, the chief executive officer now directly owns 124,278 shares of the company’s stock, valued at approximately $21,749,892.78. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds have recently added to or reduced their stakes in THG. True Wealth Design LLC bought a new position in shares of The Hanover Insurance Group in the 3rd quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new position in The Hanover Insurance Group in the third quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its stake in The Hanover Insurance Group by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 102 shares during the period. Venturi Wealth Management LLC boosted its stake in The Hanover Insurance Group by 49.5% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 90 shares during the period. Finally, Eagle Bay Advisors LLC raised its position in shares of The Hanover Insurance Group by 502.1% during the 4th quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on THG. Morgan Stanley upped their target price on The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. BMO Capital Markets increased their price objective on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Hold” and an average target price of $179.00.

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.