Focus Partners Wealth purchased a new stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,991 shares of the insurance provider's stock, valued at approximately $1,081,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in THG. Barclays PLC boosted its position in shares of The Hanover Insurance Group by 61.5% during the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider's stock worth $4,022,000 after buying an additional 10,341 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of The Hanover Insurance Group in the fourth quarter worth $201,000. Congress Asset Management Co. boosted its holdings in The Hanover Insurance Group by 42.5% during the fourth quarter. Congress Asset Management Co. now owns 46,091 shares of the insurance provider's stock worth $7,128,000 after purchasing an additional 13,750 shares during the last quarter. Hodges Capital Management Inc. grew its position in The Hanover Insurance Group by 48.8% in the fourth quarter. Hodges Capital Management Inc. now owns 76,503 shares of the insurance provider's stock valued at $11,832,000 after purchasing an additional 25,089 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in The Hanover Insurance Group by 7.5% in the 4th quarter. Bank of New York Mellon Corp now owns 349,125 shares of the insurance provider's stock valued at $53,996,000 after buying an additional 24,290 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently commented on THG shares. Barclays upgraded shares of The Hanover Insurance Group to a "hold" rating in a research note on Friday, January 24th. JMP Securities raised their price target 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. StockNews.com raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Piper Sandler increased their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Finally, Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $179.50.
View Our Latest Analysis on The Hanover Insurance Group
Insider Buying and Selling
In other news, CEO John C. Roche sold 301 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $175.00, for a total transaction of $52,675.00. Following the transaction, the chief executive officer now directly owns 124,414 shares of the company's stock, valued at approximately $21,772,450. This trade represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bryan J. Salvatore sold 10,526 shares of The Hanover Insurance Group stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 25,864 shares of the company's stock, valued at approximately $4,308,942.40. The trade was a 28.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,027 shares of company stock valued at $1,841,309. Insiders own 2.50% of the company's stock.
The Hanover Insurance Group Stock Performance
THG traded down $2.38 during trading hours on Wednesday, reaching $166.87. The company's stock had a trading volume of 155,896 shares, compared to its average volume of 207,953. The company's 50-day moving average is $165.49 and its 200-day moving average is $161.21. The Hanover Insurance Group, Inc. has a 52 week low of $119.66 and a 52 week high of $176.16. The firm has a market cap of $5.99 billion, a PE ratio of 14.27 and a beta of 0.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter last year, the company posted $3.08 EPS. The Hanover Insurance Group's quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.
The Hanover Insurance Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.16%. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 29.98%.
The Hanover Insurance Group Company Profile
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Free Report)
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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