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

Bank of New York Mellon Corp lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 345,399 shares of the insurance provider's stock after selling 3,726 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.96% of The Hanover Insurance Group worth $60,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of The Hanover Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,613,952 shares of the insurance provider's stock valued at $558,934,000 after purchasing an additional 23,565 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of The Hanover Insurance Group by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,489,391 shares of the insurance provider's stock valued at $230,349,000 after purchasing an additional 4,799 shares during the period. Franklin Resources Inc. raised its position in shares of The Hanover Insurance Group by 28.6% in the fourth quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider's stock valued at $188,363,000 after purchasing an additional 270,491 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of The Hanover Insurance Group by 4.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,087,786 shares of the insurance provider's stock valued at $168,237,000 after purchasing an additional 43,918 shares during the period. Finally, American Century Companies Inc. raised its position in shares of 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 purchasing an additional 130,054 shares during the period. Institutional investors own 86.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on THG. Morgan Stanley lifted their price target on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Piper Sandler raised their price objective on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 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 note on Wednesday. Finally, JMP Securities raised their price objective on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $181.38.

Insider Activity

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the completion of the sale, the executive vice president directly owned 25,864 shares of the company's stock, valued at approximately $4,308,942.40. The trade was a 28.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.

The Hanover Insurance Group Price Performance

THG remained flat at $163.49 during trading on Friday. 186,943 shares of the company's stock were exchanged, compared to its average volume of 217,316. The Hanover Insurance Group, Inc. has a 1 year low of $124.68 and a 1 year high of $178.68. 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 firm has a fifty day moving average of $168.53 and a 200 day moving average of $163.77. The company has a market cap of $5.87 billion, a P/E ratio of 13.61 and a beta of 0.44.

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, topping analysts' consensus estimates of $3.58 by $0.29. The firm 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 business's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.08 earnings per share. As a group, research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.90 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is 29.98%.

The Hanover Insurance Group Company 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.