HighTower Advisors LLC Buys 1,492 Shares of The Hanover Insurance Group, Inc. $THG

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in shares of The Hanover Insurance Group during the 1st quarter worth approximately $27,000. True Wealth Design LLC increased 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 valued at $47,000 after acquiring an additional 138 shares during the period. Versant Capital Management Inc increased its position in The Hanover Insurance Group by 331.4% in the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock valued at $53,000 after acquiring an additional 232 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in The Hanover Insurance Group in the 1st quarter valued at approximately $53,000. Finally, GAMMA Investing LLC increased its position in The Hanover Insurance Group by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider's stock valued at $87,000 after acquiring an additional 160 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Up 0.0%

Shares of NYSE:THG traded up $0.05 during midday trading on Friday, hitting $173.47. 183,120 shares of the stock were exchanged, compared to its average volume of 203,902. 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 Hanover Insurance Group, Inc. has a 52-week low of $139.37 and a 52-week high of $178.68. The business's fifty day simple moving average is $168.34 and its two-hundred day simple moving average is $167.14. The company has a market capitalization of $6.21 billion, a PE ratio of 11.42 and a beta of 0.45.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $1.28. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company earned $1.88 earnings per share. The Hanover Insurance Group's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, research analysts predict 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 announced 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 yield of 2.1%. The ex-dividend date was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is 23.70%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on THG shares. JMP Securities set a $205.00 price target on The Hanover Insurance Group in a research note on Thursday, July 31st. Morgan Stanley raised 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. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Finally, Keefe, Bruyette & Woods raised The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a research note on Wednesday, July 9th. 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.com, the company has a consensus 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.