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The Hanover Insurance Group (NYSE:THG) Sees Unusually-High Trading Volume Following Dividend Announcement

Defense World · Sep 8, 2022 01:11

The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) saw unusually-high trading volume on Wednesday following a dividend announcement from the company. Approximately 9,659 shares changed hands during mid-day trading, a decline of 92% from the previous session's volume of 118,184 shares.The stock last traded at $128.90 and had previously closed at $128.95.

The newly announced dividend which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, September 15th. The Hanover Insurance Group's payout ratio is 33.33%.

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Analyst Upgrades and Downgrades

A number of analysts have commented on the company. StockNews.com cut The Hanover Insurance Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 13th. Morgan Stanley reduced their price target on The Hanover Insurance Group from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday, August 19th.

The Hanover Insurance Group Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 0.39 and a quick ratio of 0.39. The business has a 50-day simple moving average of $136.23 and a 200 day simple moving average of $142.33. The firm has a market cap of $4.68 billion, a PE ratio of 14.60, a PEG ratio of 0.74 and a beta of 0.72.

Insider Transactions at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 946 shares of the company's stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $136.65, for a total value of $129,270.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of hedge funds have recently made changes to their positions in THG. Assetmark Inc. boosted 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 buying an additional 142 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of The Hanover Insurance Group in the 1st quarter valued at approximately $37,000. Meeder Asset Management Inc. lifted its stake in shares of The Hanover Insurance Group by 25,200.0% in the 1st quarter. Meeder Asset Management Inc. now owns 253 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 252 shares during the last quarter. Ronald Blue Trust Inc. purchased a new stake in shares of The Hanover Insurance Group in the second quarter worth approximately $47,000. Finally, Quent Capital LLC raised its holdings in shares of The Hanover Insurance Group by 63.7% in the first quarter. Quent Capital LLC now owns 329 shares of the insurance provider's stock worth $49,000 after buying an additional 128 shares during the period. Institutional investors own 85.81% of the company's stock.

The Hanover Insurance Group Company Profile

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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 Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, 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.