Massachusetts Financial Services Co. MA Sells 119,651 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Massachusetts Financial Services Co. MA trimmed its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,369,740 shares of the insurance provider's stock after selling 119,651 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.81% of The Hanover Insurance Group worth $238,266,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in shares of 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 worth $33,000 after purchasing an additional 102 shares in the last quarter. True Wealth Design LLC raised its stake in shares of 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 worth $47,000 after buying an additional 138 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of 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 worth $53,000 after buying an additional 232 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of The Hanover Insurance Group in the 1st quarter worth $53,000. Finally, Jones Financial Companies Lllp raised its stake in shares of The Hanover Insurance Group by 4,675.0% in the 4th quarter. Jones Financial Companies Lllp now owns 382 shares of the insurance provider's stock worth $59,000 after buying an additional 374 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Piper Sandler boosted their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. JMP Securities lifted their target price on The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, May 1st. Morgan Stanley lifted their target price on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Keefe, Bruyette & Woods upgraded The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $181.38.

The Hanover Insurance Group Stock Up 0.3%

Shares of THG traded up $0.55 during mid-day trading on Friday, reaching $165.41. The company's stock had a trading volume of 179,682 shares, compared to its average volume of 218,310. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 13.77 and a beta of 0.44. The business has a fifty day moving average of $168.31 and a 200 day moving average of $164.11. The Hanover Insurance Group, Inc. has a 1 year low of $130.44 and a 1 year high of $178.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly 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 Hanover Insurance Group had a net margin of 6.98% and a return on equity of 18.23%. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the previous year, the company posted $3.08 EPS. The Hanover Insurance Group's revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio is currently 29.98%.

Insider Activity at The Hanover Insurance Group

In other news, EVP Bryan J. Salvatore sold 10,526 shares of the business's 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 directly owned 25,864 shares in the company, valued at $4,308,942.40. The trade was a 28.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by corporate insiders.

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.