The Hanover Insurance Group, Inc. (NYSE:THG) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,979 shares of the insurance provider's stock after selling 1,910 shares during the quarter. Peregrine Capital Management LLC owned about 0.10% of The Hanover Insurance Group worth $6,085,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of THG. Highland Capital Management LLC increased its position in shares of The Hanover Insurance Group by 24.9% during the first quarter. Highland Capital Management LLC now owns 2,085 shares of the insurance provider's stock worth $363,000 after purchasing an additional 416 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in The Hanover Insurance Group during the 1st quarter worth $3,206,000. Wealthquest Corp acquired a new position in The Hanover Insurance Group during the 1st quarter valued at about $869,000. Lecap Asset Management Ltd. raised its stake in The Hanover Insurance Group by 68.3% in the first quarter. Lecap Asset Management Ltd. now owns 5,682 shares of the insurance provider's stock valued at $988,000 after buying an additional 2,306 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in The Hanover Insurance Group in the first quarter valued at about $2,342,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Trading Up 1.2%

Shares of THG traded up $1.90 during midday trading on Friday, reaching $163.98. The company had a trading volume of 228,013 shares, compared to its average volume of 216,432. The firm has a 50 day simple moving average of $168.80 and a 200-day simple moving average of $163.42. 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 $5.89 billion, a PE ratio of 13.65 and a beta of 0.44. The Hanover Insurance Group, Inc. has a 1-year low of $123.17 and a 1-year high of $178.68.

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 EPS for the quarter, beating analysts' consensus estimates of $3.58 by $0.29. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.08 earnings per share. Research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, June 13th. The Hanover Insurance Group's payout ratio is 29.98%.

Analyst Ratings Changes

THG has been the topic of several research analyst reports. Morgan Stanley boosted 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 research report on Monday, May 19th. Keefe, Bruyette & Woods boosted their price target on The Hanover Insurance Group from $171.00 to $173.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. JMP Securities increased their target price 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. 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. Finally, 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. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $179.50.

Insider Activity at The Hanover Insurance Group

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 shares were sold at an average price of $166.60, for a total value of $1,753,631.60. Following the completion of the transaction, the executive vice president owned 25,864 shares of the company's stock, valued at $4,308,942.40. This trade represents a 28.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.50% of the company's stock.

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.