The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 618,000 shares, an increase of 33.9% from the April 30th total of 461,700 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily volume of 180,600 shares, the days-to-cover ratio is presently 3.4 days.
Shares of THG traded up $1.40 during trading hours on Monday, reaching $148.23. The stock had a trading volume of 3,907 shares, compared to its average volume of 173,864. The Hanover Insurance Group has a 12 month low of $121.69 and a 12 month high of $155.55. The stock has a market capitalization of $5.28 billion, a PE ratio of 12.47, a PEG ratio of 0.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.40 and a current ratio of 0.40. The company’s 50-day moving average is $148.62 and its two-hundred day moving average is $139.59.
The Hanover Insurance Group (NYSE:THG – Get Rating) last announced its earnings results on Tuesday, May 3rd. The insurance provider reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.26. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.24 billion. The Hanover Insurance Group had a return on equity of 12.25% and a net margin of 8.16%. The Hanover Insurance Group’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $1.66 EPS. Equities analysts anticipate that The Hanover Insurance Group will post 10.55 earnings per share for the current fiscal year.
A number of research analysts have recently commented on THG shares. Zacks Investment Research cut The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th.
In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 9,253 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $141.07, for a total value of $1,305,320.71. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John C. Roche sold 7,258 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $145.73, for a total value of $1,057,708.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,158 shares of company stock worth $2,916,191. Company insiders own 2.50% of the company’s stock.
A number of large investors have recently made changes to their positions in THG. Quent Capital LLC bought a new position in The Hanover Insurance Group during the 4th quarter worth $26,000. Allegheny Financial Group LTD acquired a new stake in The Hanover Insurance Group during the 4th quarter worth about $28,000. GHP Investment Advisors Inc. acquired a new stake in The Hanover Insurance Group during the 1st quarter worth about $37,000. Meeder Asset Management Inc. grew its holdings in The Hanover Insurance Group by 25,200.0% during the 1st quarter. Meeder Asset Management Inc. now owns 253 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 252 shares during the period. Finally, CWM LLC acquired a new stake in The Hanover Insurance Group during the 4th quarter worth about $43,000. 84.72% of the stock is owned by institutional investors and hedge funds.
About The Hanover Insurance Group (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 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.
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