The Hanover Insurance Group, Inc. $THG Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in The Hanover Insurance Group by 13.2%, owning a total of 12,838 shares valued at approximately $2.23 million post acquisition.
• The Hanover Insurance Group reported earnings of $4.35 per share for its most recent quarter, exceeding analyst expectations of $3.07 per share, while revenue reached $1.58 billion.
• Wall Street analysts have upgraded The Hanover Insurance Group's rating to "buy" and assigned a price target of $185.13, indicating positive sentiment towards the stock's future performance.

HighTower Advisors LLC raised its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 13.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,838 shares of the insurance provider's stock after acquiring an additional 1,492 shares during the period. HighTower Advisors LLC's holdings in The Hanover Insurance Group were worth $2,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Johnson Investment Counsel Inc. bought a new stake in shares of The Hanover Insurance Group in the 1st quarter worth $209,000. Principal Financial Group Inc. raised its stake in shares of The Hanover Insurance Group by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 82,886 shares of the insurance provider's stock worth $14,418,000 after buying an additional 252 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of The Hanover Insurance Group by 7.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 112,632 shares of the insurance provider's stock worth $19,592,000 after buying an additional 7,661 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of The Hanover Insurance Group by 881.5% in the 1st quarter. Bayforest Capital Ltd now owns 3,926 shares of the insurance provider's stock worth $683,000 after buying an additional 3,526 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of The Hanover Insurance Group by 31.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,351 shares of the insurance provider's stock worth $1,292,000 after buying an additional 1,996 shares in the last quarter. Institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Down 0.6%

Shares of THG traded down $1.07 during mid-day trading on Thursday, hitting $173.57. 52,425 shares of the company's stock were exchanged, compared to its average volume of 246,171. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 11.43 and a beta of 0.45. The Hanover Insurance Group, Inc. has a fifty-two week low of $139.37 and a fifty-two week high of $178.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37. The stock's 50-day moving average is $168.10 and its 200-day moving average is $166.97.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share 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 firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. The business's quarterly revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is 23.70%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised 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. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a report on Thursday, July 31st. Wall Street Zen upgraded The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Finally, Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $185.13.

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.