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The Hanover Insurance Group, Inc. (NYSE:THG) Short Interest Update

The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating ) was the target of a significant drop in short interest during the month of October. As of October 31st, short interest totaled 601,800 shares, a decrease of 25.0% from the October 15th total of 802,900 shares. Based on an average daily volume of 172,500 shares, the short interest ratio is currently 3.5 days. Currently, 1.7% of the company’s shares are sold short.

Wall Street analyst weighs in

Several equities research analysts recently commented on the stock. Janney Montgomery Scott initiated coverage on shares of The Hanover Insurance Group in a research report on Friday. They set a “buy” rating and a $164.00 target price on the stock. Morgan Stanley decreased their price objective on shares of The Hanover Insurance Group from $155.00 to $145.00 and set an “equal weight” rating on the stock in a report on Friday, August 19th. Piper Sandler lowered The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $144.00 target price for the company. in a research note on Monday, November 7th. Finally, StockNews.com downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, October 13th.

Insider dealings at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 946 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $136.65, for a total transaction of $129,270.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Jane D. Carlin sold 946 shares of The Hanover Insurance Group stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $136.65, for a total transaction of $129,270.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Joseph Welzenbach sold 2,673 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $142.21, for a total transaction of $380,127.33. Following the completion of the transaction, the executive vice president now owns 19,846 shares in the company, valued at $2,822,299.66. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s shares.

Institutional Trading of The Hanover Insurance Group

Hedge funds have recently modified their holdings. GPS Wealth Strategies Group LLC raised its stake in shares of The Hanover Insurance Group by 55.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 203 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 72 shares during the last quarter. Assetmark Inc. grew its stake in The Hanover Insurance Group by 139.2% during the second quarter. Assetmark Inc. now owns 244 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 142 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of The Hanover Insurance Group during the first quarter valued at $37,000. Meeder Asset Management Inc. boosted its position in shares of The Hanover Insurance Group by 25,200.0% during the first quarter. Meeder Asset Management Inc. now owns 253 shares of the insurance provider’s stock valued at $38,000 after buying an additional 252 shares during the period. Finally, Riverview Trust Co boosted its position in shares of The Hanover Insurance Group by 48.2% during the third quarter. Riverview Trust Co now owns 338 shares of the insurance provider’s stock valued at $43,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 85.81% of the company’s shares.

Hanover Insurance Group stock fell 0.6%

Shares of THG traded down $0.88 during trading hours on Friday, hitting $140.17. The company had a trading volume of 261,956 shares, compared to its average volume of 180,835. The company has a market cap of $4.98 billion, a PE ratio of 17.37, a price-to-earnings ratio of -growth ratio of 0.93 and a beta of 0.72. The company has a current ratio of 0.39, a quick ratio of 0.39, and a debt-to-equity ratio of 0.34. Hanover Insurance Group has a one year low of $121.69 and a one year high of $155.55. The company’s fifty day moving average price is $136.04 and its two hundred day moving average price is $139.20.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.75 dividend. This represents a dividend of $3.00 on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Thursday, September 15th. The Hanover Insurance Group’s dividend payout ratio is currently 37.17%.

The Hanover Insurance Group Company Profile

(Get rating)

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 three segments: commercial lines, personal lines and others. The Commercial Lines segment offers commercial multi-peril, commercial auto and workers’ compensation insurance products, as well as management and professional liability, marine, specialty industrial and commercial property, monoline general liability, surety, umbrella, fidelity, crime and other commercial coverages.

Further reading

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