Mackenzie Financial Corp Purchases 1,722 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Mackenzie Financial Corp increased its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,539 shares of the insurance provider's stock after acquiring an additional 1,722 shares during the quarter. Mackenzie Financial Corp's holdings in The Hanover Insurance Group were worth $1,166,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Kolinsky Wealth Management LLC bought a new stake in shares of The Hanover Insurance Group in the 4th quarter worth approximately $272,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in The Hanover Insurance Group by 15.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 121,319 shares of the insurance provider's stock valued at $18,763,000 after acquiring an additional 16,506 shares during the period. Woodline Partners LP increased its stake in The Hanover Insurance Group by 1,575.5% in the fourth quarter. Woodline Partners LP now owns 129,848 shares of the insurance provider's stock valued at $20,082,000 after acquiring an additional 122,098 shares during the period. iSAM Funds UK Ltd acquired a new position in The Hanover Insurance Group in the fourth quarter valued at about $656,000. Finally, WBI Investments LLC bought a new stake in The Hanover Insurance Group during the 4th quarter worth approximately $3,965,000. Institutional investors and hedge funds own 86.61% of the company's stock.

The Hanover Insurance Group Price Performance

Shares of The Hanover Insurance Group stock traded down $3.50 during trading on Wednesday, reaching $173.43. 171,333 shares of the company's stock were exchanged, compared to its average volume of 211,742. The company has a market cap of $6.23 billion, a P/E ratio of 14.84 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, Inc. has a 1-year low of $119.66 and a 1-year high of $178.68. The firm's 50-day moving average price is $165.59 and its 200 day moving average price is $162.22.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.29. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $3.08 EPS. The Hanover Insurance Group's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.08%. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 29.98%.

Insider Buying and Selling

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Roche sold 200 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $175.01, for a total transaction of $35,002.00. Following the transaction, the chief executive officer now owns 124,278 shares in the company, valued at approximately $21,749,892.78. The trade was a 0.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,027 shares of company stock valued at $1,841,309 over the last 90 days. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on THG. Wall Street Zen raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. JMP Securities upped 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. Morgan Stanley lifted their price objective on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods lifted their price target on shares of 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. Finally, Piper Sandler upped their price target on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $179.50.

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.