Bank of New York Mellon Corp Sells 3,726 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Bank of New York Mellon Corp lowered its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,399 shares of the insurance provider's stock after selling 3,726 shares during the period. Bank of New York Mellon Corp owned 0.96% of The Hanover Insurance Group worth $60,082,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in THG. EverSource Wealth Advisors LLC grew its position in The Hanover Insurance Group by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 102 shares in the last quarter. Versant Capital Management Inc lifted its position in The Hanover Insurance Group by 331.4% during the 1st 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. acquired a new position in shares of The Hanover Insurance Group in the 1st quarter worth approximately $53,000. True Wealth Design LLC boosted its position in The Hanover Insurance Group by 81.7% during the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock worth $47,000 after acquiring an additional 138 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of 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 purchasing an additional 374 shares during the period. Hedge funds and other institutional investors own 86.61% of the company's stock.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the completion of the sale, 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 transaction 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.

The Hanover Insurance Group Price Performance

Shares of NYSE THG traded down $2.69 during trading on Tuesday, reaching $163.43. The company had a trading volume of 156,772 shares, compared to its average volume of 217,502. The stock has a market cap of $5.87 billion, a PE ratio of 13.61 and a beta of 0.44. The business's 50 day moving average price is $168.53 and its 200-day moving average price is $163.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38. The Hanover Insurance Group, Inc. has a 52 week low of $126.50 and a 52 week high of $178.68.

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

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.90 per share. The ex-dividend date was Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.20%. The Hanover Insurance Group's payout ratio is currently 29.98%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on THG shares. Morgan Stanley increased their price target on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an "equal weight" rating in a research 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. JMP Securities increased their price objective on shares of 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. Keefe, Bruyette & Woods upgraded shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price objective on the stock in a research report on Wednesday, July 9th. Finally, Piper Sandler upped their target price on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $181.38.

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.