Oppenheimer & Co. Inc. Purchases Shares of 13,463 The Hanover Insurance Group, Inc. (NYSE:THG)

Oppenheimer & Co. Inc. bought a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,463 shares of the insurance provider's stock, valued at approximately $2,342,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in THG. EverSource Wealth Advisors LLC raised its holdings 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 valued at $33,000 after buying an additional 102 shares in the last quarter. True Wealth Design LLC grew its position in The Hanover Insurance Group by 81.7% during the fourth quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock valued at $47,000 after acquiring an additional 138 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of The Hanover Insurance Group by 331.4% during the first quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock worth $53,000 after acquiring an additional 232 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of The Hanover Insurance Group during the first quarter worth approximately $53,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of The Hanover Insurance Group by 4,675.0% in the 4th quarter. Jones Financial Companies Lllp now owns 382 shares of the insurance provider's stock worth $59,000 after acquiring an additional 374 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

THG has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $171.00 to $173.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. JMP Securities raised their price objective on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 1st. Morgan Stanley lifted their price objective on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wall Street Zen upgraded The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Finally, Piper Sandler raised their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $179.50.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the completion of the transaction, the executive vice president owned 25,864 shares of the company's stock, valued at approximately $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is owned by insiders.

The Hanover Insurance Group Trading Up 1.3%

NYSE:THG traded up $2.12 during mid-day trading on Monday, reaching $169.62. 269,260 shares of the company's stock traded hands, compared to its average volume of 214,815. The company has a 50 day moving average price of $168.68 and a 200-day moving average price of $163.26. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 14.12 and a beta of 0.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The Hanover Insurance Group, Inc. has a 12-month low of $123.17 and a 12-month high of $178.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.29. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $3.08 EPS. On average, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio is presently 29.98%.

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.