Oak Thistle LLC Cuts Stock Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Oak Thistle LLC decreased its position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 31.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,614 shares of the insurance provider's stock after selling 2,147 shares during the quarter. Oak Thistle LLC's holdings in The Hanover Insurance Group were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in THG. Johnson Investment Counsel Inc. bought a new position in shares of The Hanover Insurance Group during the 1st quarter valued at approximately $209,000. Principal Financial Group Inc. grew its position in 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 valued at $14,418,000 after acquiring an additional 252 shares during the last quarter. Envestnet Asset Management Inc. grew its position in 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 valued at $19,592,000 after acquiring an additional 7,661 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in 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 valued at $1,292,000 after acquiring an additional 1,996 shares during the last quarter. Finally, Wealthquest Corp bought a new position in The Hanover Insurance Group in the 1st quarter valued at $869,000. Institutional investors own 86.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on THG shares. Piper Sandler upped their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Morgan Stanley increased their target price on shares of 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. Wall Street Zen upgraded shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods upgraded shares of 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. Finally, JMP Securities lifted their price objective on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the company a "market outperform" rating in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $181.38.

The Hanover Insurance Group Stock Up 2.2%

Shares of NYSE THG traded up $3.63 during mid-day trading on Friday, reaching $166.85. 249,912 shares of the company were exchanged, compared to its average volume of 248,008. 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 stock has a market cap of $5.99 billion, a price-to-earnings ratio of 13.89 and a beta of 0.44. The Hanover Insurance Group, Inc. has a 1 year low of $130.60 and a 1 year high of $178.68. The firm has a 50-day moving average of $168.25 and a 200 day moving average of $164.56.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, beating analysts' consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.55 billion. During the same period last year, the business posted $3.08 earnings per share. The firm's revenue was up 3.4% compared to the same quarter last year. On average, research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, June 13th. The Hanover Insurance Group's payout ratio is 29.98%.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the sale, the executive vice president directly owned 25,864 shares of the company's stock, valued at approximately $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.

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.