Pacer Advisors Inc. lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 50.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,650 shares of the insurance provider's stock after selling 2,721 shares during the quarter. Pacer Advisors Inc.'s holdings in The Hanover Insurance Group were worth $461,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LPL Financial LLC boosted its holdings in The Hanover Insurance Group by 47.7% during the 4th quarter. LPL Financial LLC now owns 11,915 shares of the insurance provider's stock worth $1,843,000 after acquiring an additional 3,847 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in The Hanover Insurance Group by 5.2% during the 4th quarter. JPMorgan Chase & Co. now owns 72,738 shares of the insurance provider's stock worth $11,250,000 after acquiring an additional 3,573 shares during the last quarter. Norges Bank purchased a new position in The Hanover Insurance Group during the 4th quarter worth $67,928,000. Pictet Asset Management Holding SA boosted its holdings in The Hanover Insurance Group by 15.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,437 shares of the insurance provider's stock worth $841,000 after acquiring an additional 722 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in The Hanover Insurance Group by 28.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,290 shares of the insurance provider's stock worth $1,128,000 after acquiring an additional 1,631 shares during the last quarter. Institutional investors own 86.61% of the company's stock.
Insider Buying and Selling at The Hanover Insurance Group
In other news, EVP Bryan J. Salvatore sold 10,526 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the sale, the executive vice president directly owned 25,864 shares in the company, valued at $4,308,942.40. This represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.50% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
THG has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday. Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price target on the stock in a report on Wednesday, July 9th. JMP Securities set a $205.00 price target on shares of The Hanover Insurance Group in a report on Thursday. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Finally, Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $185.13.
View Our Latest Research Report on The Hanover Insurance Group
The Hanover Insurance Group Stock Performance
The Hanover Insurance Group stock traded down $2.94 during midday trading on Friday, reaching $168.69. The stock had a trading volume of 412,993 shares, compared to its average volume of 267,355. The Hanover Insurance Group, Inc. has a 12 month low of $130.60 and a 12 month high of $178.68. The firm's 50-day moving average price is $168.21 and its 200 day moving average price is $165.12. The firm has a market capitalization of $6.06 billion, a PE ratio of 11.11 and a beta of 0.45. The company has a quick ratio of 0.38, a current ratio of 0.36 and a debt-to-equity ratio of 0.11.
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, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the previous year, the business posted $1.88 EPS. The firm'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 declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.90 per share. The ex-dividend date was Friday, June 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The Hanover Insurance Group's dividend payout ratio is currently 29.98%.
About The Hanover Insurance Group
(
Free Report)
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.
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