Bayforest Capital Ltd Buys 3,526 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Key Points

• Bayforest Capital Ltd significantly increased its holdings in The Hanover Insurance Group by 881.5% during the first quarter, acquiring an additional 3,526 shares to own a total of 3,926 shares worth $683,000.
• Recent analyst ratings have been positive, with Piper Sandler and JMP Securities raising their price targets, indicating a consensus rating of "Moderate Buy" and an average price target of $181.38 for the stock.
• Insider trading activity includes EVP Bryan J. Salvatore selling 10,526 shares, reducing his position by nearly 29% and valuing his remaining shares at approximately $4.3 million.

Bayforest Capital Ltd grew its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 881.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,926 shares of the insurance provider's stock after acquiring an additional 3,526 shares during the quarter. Bayforest Capital Ltd's holdings in The Hanover Insurance Group were worth $683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC lifted its stake in shares of The Hanover Insurance Group by 81.7% in the fourth quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock worth $47,000 after acquiring an additional 138 shares in the last quarter. Versant Capital Management Inc increased its holdings in The Hanover Insurance Group by 331.4% in the first quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock valued at $53,000 after buying an additional 232 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in The Hanover Insurance Group in the first quarter valued at about $53,000. GAMMA Investing LLC increased its holdings in The Hanover Insurance Group by 47.2% in the first quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider's stock valued at $87,000 after buying an additional 160 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in The Hanover Insurance Group in the first quarter valued at about $102,000. Hedge funds and other institutional investors own 86.61% of the company's stock.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group 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 transaction of $1,753,631.60. Following the sale, the executive vice president owned 25,864 shares in the company, valued at $4,308,942.40. The trade was a 28.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.50% of the company's stock.

The Hanover Insurance Group Stock Performance

THG stock traded down $2.94 on Friday, reaching $168.69. 412,993 shares of the company were exchanged, compared to its average volume of 267,355. The Hanover Insurance Group, Inc. has a 12 month low of $130.60 and a 12 month high of $178.68. The stock's fifty day moving average price is $168.21 and its 200 day moving average price is $165.12. The firm has a market capitalization of $6.06 billion, a PE ratio of 11.11 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.36 and a quick ratio of 0.38.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $1.28. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $1.88 earnings per share. The Hanover Insurance Group's revenue was up 3.1% compared to the same quarter last year. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.1%. The Hanover Insurance Group's payout ratio is 23.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on THG shares. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday. Wall Street Zen upgraded shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday. JMP Securities set a $205.00 price target on shares of The Hanover Insurance Group in a research report on Thursday. Finally, 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, July 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $185.13.

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.