Cresset Asset Management LLC Trims Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Cresset Asset Management LLC trimmed its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 69.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,392 shares of the insurance provider's stock after selling 5,525 shares during the period. Cresset Asset Management LLC's holdings in The Hanover Insurance Group were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of The Hanover Insurance Group by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider's stock worth $33,000 after buying an additional 102 shares during the last quarter. Venturi Wealth Management LLC grew its position in The Hanover Insurance Group by 49.5% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider's stock worth $42,000 after buying an additional 90 shares in the last quarter. Jones Financial Companies Lllp grew its position in The Hanover Insurance Group by 4,675.0% during the fourth quarter. Jones Financial Companies Lllp now owns 382 shares of the insurance provider's stock worth $59,000 after buying an additional 374 shares in the last quarter. Millstone Evans Group LLC bought a new position in The Hanover Insurance Group during the 4th quarter worth $68,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in The Hanover Insurance Group in the 4th quarter valued at $72,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Price Performance

Shares of THG stock traded up $1.50 on Monday, reaching $169.87. The company's stock had a trading volume of 156,725 shares, compared to its average volume of 208,050. The company has a market capitalization of $6.10 billion, a P/E ratio of 14.53 and a beta of 0.44. The Hanover Insurance Group, Inc. has a 12-month low of $119.66 and a 12-month high of $176.16. The stock's 50 day simple moving average is $165.31 and its 200-day simple moving average is $161.00. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.29. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.55 billion. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The Hanover Insurance Group's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.08 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.90 per share. The ex-dividend date was Friday, March 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.12%. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 29.98%.

Analysts Set New Price Targets

THG has been the topic of several analyst reports. JMP Securities increased their price target on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 1st. Barclays upgraded The Hanover Insurance Group to a "hold" rating in a research report on Friday, January 24th. Morgan Stanley raised their price objective on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday. Keefe, Bruyette & Woods raised their target price on The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Finally, StockNews.com raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, The Hanover Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $179.50.

Insider Activity at The Hanover Insurance Group

In related news, EVP Bryan J. Salvatore sold 10,526 shares of The Hanover Insurance Group stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total value of $1,753,631.60. Following the transaction, the executive vice president now directly owns 25,864 shares of the company's stock, valued at $4,308,942.40. The trade was a 28.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. Roche sold 301 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $175.00, for a total transaction of $52,675.00. Following the sale, the chief executive officer now directly owns 124,414 shares of the company's stock, valued at $21,772,450. The trade was a 0.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,027 shares of company stock valued at $1,841,309. Corporate insiders own 2.50% of the company's stock.

The Hanover Insurance Group Profile

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.