Envestnet Asset Management Inc. Acquires 7,661 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Envestnet Asset Management Inc. lifted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,632 shares of the insurance provider's stock after purchasing an additional 7,661 shares during the period. Envestnet Asset Management Inc. owned 0.31% of The Hanover Insurance Group worth $19,592,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of THG. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 worth $33,000 after buying an additional 102 shares during the last quarter. Versant Capital Management Inc grew its holdings 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 purchasing an additional 232 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in The Hanover Insurance Group during the first quarter valued at about $53,000. True Wealth Design LLC raised its position in The Hanover Insurance Group by 81.7% in the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock worth $47,000 after purchasing an additional 138 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in shares of The Hanover Insurance Group in the fourth quarter worth $68,000. 86.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on THG shares. 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 target on the stock in a report on Wednesday, July 9th. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note 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 report on Tuesday, April 1st. JMP Securities upped their target price on The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, May 1st. Finally, Morgan Stanley raised their target price on The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $181.38.

The Hanover Insurance Group Stock Up 0.3%

Shares of THG traded up $0.55 on Friday, hitting $165.41. 179,682 shares of the stock traded hands, compared to its average volume of 218,055. The Hanover Insurance Group, Inc. has a one year low of $130.44 and a one year high of $178.68. The company has a market capitalization of $5.94 billion, a PE ratio of 13.77 and a beta of 0.44. The business has a 50 day simple moving average of $168.33 and a 200 day simple moving average of $164.04. 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 (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, topping the consensus estimate of $3.58 by $0.29. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. The Hanover Insurance Group's revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 29.98%.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of The Hanover Insurance Group 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 sale, the executive vice president owned 25,864 shares of the company's stock, valued at $4,308,942.40. The trade was a 28.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.50% of the company's stock.

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.