Envestnet Portfolio Solutions Inc. Has $673,000 Stock Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,870 shares of the insurance provider's stock after selling 2,406 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in The Hanover Insurance Group were worth $673,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in The Hanover Insurance Group by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider's stock valued at $33,000 after buying an additional 102 shares in the last quarter. True Wealth Design LLC boosted its stake in 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 valued at $47,000 after buying an additional 138 shares in the last quarter. Versant Capital Management Inc boosted its stake 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 in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in The Hanover Insurance Group in the first quarter valued at about $53,000. Finally, Jones Financial Companies Lllp boosted its stake in The Hanover Insurance Group by 4,675.0% in the fourth quarter. Jones Financial Companies Lllp now owns 382 shares of the insurance provider's stock valued at $59,000 after buying an additional 374 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $169.02 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $6.07 billion, a PE ratio of 14.07 and a beta of 0.45. The Hanover Insurance Group, Inc. has a 12 month low of $121.52 and a 12 month high of $178.68. The stock has a 50-day moving average price of $168.32 and a two-hundred day moving average price of $162.96.

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

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.90 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.13%. The Hanover Insurance Group's payout ratio is 29.98%.

Insider Activity

In other news, CEO John C. Roche sold 301 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the sale, the chief executive officer now owns 124,414 shares of the company's stock, valued at approximately $21,772,450. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan J. Salvatore sold 10,526 shares of the firm's 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 now directly owns 25,864 shares of the company's stock, valued at $4,308,942.40. This represents a 28.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on THG. Piper Sandler raised their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Wall Street Zen raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. JMP Securities raised their price objective on 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. Morgan Stanley raised their price objective 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. Finally, Keefe, Bruyette & Woods raised their price objective on The Hanover Insurance Group from $171.00 to $173.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $179.50.

About The Hanover Insurance Group

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.

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