CX Institutional Sells 34,440 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• CX Institutional cut its Hanover Insurance stake by 94.2% in the third quarter, selling 34,440 shares and retaining 2,104 shares worth approximately $451,000. Institutional investors and hedge funds collectively own 86.61% of THG.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $227.14, while individual ratings range from Strong Buy to Hold and the latest target prices reach $240.
• Hanover reported quarterly EPS of $5.31, beating estimates by $1.47, while revenue rose 4.6% year over year to $1.73 billion. The company also pays a quarterly dividend of $0.95 per share, representing a 1.7% annualized yield.

CX Institutional decreased its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 94.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,104 shares of the insurance provider's stock after selling 34,440 shares during the quarter. CX Institutional's holdings in The Hanover Insurance Group were worth $451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc increased its stake in shares of The Hanover Insurance Group by 7.1% in the third quarter. Versant Capital Management Inc now owns 922 shares of the insurance provider's stock valued at $197,000 after buying an additional 61 shares during the period. QRG Capital Management Inc. lifted its stake in shares of The Hanover Insurance Group by 9.2% in the second quarter. QRG Capital Management Inc. now owns 1,267 shares of the insurance provider's stock worth $271,000 after acquiring an additional 107 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of The Hanover Insurance Group by 29.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,025 shares of the insurance provider's stock worth $1,076,000 after purchasing an additional 1,151 shares during the period. WINTON GROUP Ltd boosted its stake in shares of The Hanover Insurance Group by 1,447.6% in the 2nd quarter. WINTON GROUP Ltd now owns 24,761 shares of the insurance provider's stock valued at $5,302,000 after purchasing an additional 23,161 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of The Hanover Insurance Group by 44.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,952 shares of the insurance provider's stock valued at $418,000 after purchasing an additional 596 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Citizens Jmp upped their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 29th. Zacks Research upgraded The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Morgan Stanley raised their target price on The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 19th. Finally, Piper Sandler downgraded The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 target price for the company. in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.14.

The Hanover Insurance Group Stock Up 0.0%

THG stock opened at $219.52 on Monday. The stock's 50 day simple moving average is $225.12 and its 200 day simple moving average is $203.90. The Hanover Insurance Group, Inc. has a fifty-two week low of $166.54 and a fifty-two week high of $236.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $7.64 billion, a P/E ratio of 10.48 and a beta of 0.23.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same period last year, the business earned $4.35 EPS. The Hanover Insurance Group's quarterly revenue was up 4.6% compared to the same quarter last year. On average, research analysts expect that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, September 11th. This represents a $3.80 annualized dividend and a yield of 1.7%. The Hanover Insurance Group's dividend payout ratio is 18.14%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Jane Carlin sold 1,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the sale, the director directly owned 2,270 shares of the company's stock, valued at approximately $525,505. This represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dennis Kerrigan sold 2,104 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total value of $467,950.64. Following the completion of the transaction, the executive vice president owned 12,003 shares in the company, valued at $2,669,587.23. The trade was a 14.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,655 shares of company stock valued at $2,145,846 over the last three months. 2.80% of the stock is currently owned by insiders.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc NYSE: THG is a property and casualty insurance holding company headquartered in Worcester, Massachusetts. Founded in 1852, the company operates through a network of independent agents and provides insurance products and services primarily in the United States.

The company's business is organized around personal, commercial and specialty insurance. Its personal lines include automobile, homeowners, condominium, renters and umbrella coverage. Commercial offerings include property, liability, workers' compensation, commercial automobile and package policies for small and middle-market businesses, while specialty products serve selected industries and professional risks.

The Hanover also provides risk-management resources, claims services and related support to policyholders and agents.

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