Peregrine Capital Management LLC Has $6.09 Million Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Peregrine Capital Management LLC reduced its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,979 shares of the insurance provider's stock after selling 1,910 shares during the period. Peregrine Capital Management LLC owned about 0.10% of The Hanover Insurance Group worth $6,085,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of The Hanover Insurance Group in the 4th quarter valued at about $67,928,000. Vaughan Nelson Investment Management L.P. acquired a new position in The Hanover Insurance Group during the first quarter valued at approximately $64,340,000. Franklin Resources Inc. grew its stake in The Hanover Insurance Group by 28.6% in the fourth quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider's stock valued at $188,363,000 after purchasing an additional 270,491 shares in the last quarter. Wealthfront Advisers LLC bought a new position in The Hanover Insurance Group in the fourth quarter valued at approximately $21,797,000. Finally, American Century Companies Inc. increased its position in shares of The Hanover Insurance Group by 15.7% during the 4th quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider's stock worth $148,297,000 after purchasing an additional 130,054 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Stock Performance

Shares of THG stock traded down $5.84 during midday trading on Wednesday, hitting $161.53. 66,097 shares of the company were exchanged, compared to its average volume of 214,942. The Hanover Insurance Group, Inc. has a 52 week low of $123.17 and a 52 week high of $178.68. The firm has a market capitalization of $5.80 billion, a P/E ratio of 13.44 and a beta of 0.44. The firm's 50 day moving average price is $168.78 and its two-hundred day moving average price is $163.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the business posted $3.08 earnings per share. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities 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 company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $0.90 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.60 annualized dividend and a yield of 2.23%. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 29.98%.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction on 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 transaction, the executive vice president owned 25,864 shares in the company, valued at $4,308,942.40. This trade represents a 28.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

THG has been the subject of several analyst reports. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Morgan Stanley lifted their price objective on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. JMP Securities boosted their price objective on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods raised their target price 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 lifted their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, The Hanover Insurance Group has an average rating of "Moderate Buy" and an average price target of $179.50.

The Hanover Insurance Group 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.