Adage Capital Partners GP L.L.C. Acquires 8,900 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Adage Capital Partners GP L.L.C. raised its position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 288,900 shares of the insurance provider's stock after purchasing an additional 8,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.80% of The Hanover Insurance Group worth $44,681,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in The Hanover Insurance Group in the fourth quarter valued at $67,928,000. Franklin Resources Inc. grew its holdings in shares of The Hanover Insurance Group by 28.6% during the fourth quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider's stock worth $188,363,000 after purchasing an additional 270,491 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of The Hanover Insurance Group during the fourth quarter worth about $21,797,000. American Century Companies Inc. lifted its stake in The Hanover Insurance Group by 15.7% in the fourth quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider's stock valued at $148,297,000 after buying an additional 130,054 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in The Hanover Insurance Group in the 4th quarter valued at $8,612,000. Institutional investors and hedge funds own 86.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on The Hanover Insurance Group from $179.00 to $171.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. Barclays raised The Hanover Insurance Group to a "hold" rating in a report on Friday, January 24th. StockNews.com upgraded shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday. Morgan Stanley raised their price objective on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, Piper Sandler raised their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and an average target price of $178.00.

The Hanover Insurance Group Stock Performance

THG traded down $1.52 on Wednesday, hitting $164.48. The company had a trading volume of 74,348 shares, compared to its average volume of 203,595. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 14.07 and a beta of 0.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The company's fifty day moving average price is $164.97 and its 200 day moving average price is $159.46. The Hanover Insurance Group, Inc. has a 1-year low of $119.66 and a 1-year high of $176.16.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, beating analysts' consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. Equities analysts predict that The Hanover Insurance Group, Inc. 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. Stockholders of record on Friday, March 14th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Friday, March 14th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 30.80%.

Insider Buying and Selling

In related news, CEO John C. Roche sold 200 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 124,278 shares in the company, valued at approximately $21,749,892.78. The trade was a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.50% of the company's stock.

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.