Precision Wealth Strategies LLC purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,036 shares of the insurance provider's stock, valued at approximately $702,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in The Hanover Insurance Group in the 4th quarter valued at approximately $1,292,000. Chevy Chase Trust Holdings LLC increased its position in The Hanover Insurance Group by 9.4% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 2,676 shares of the insurance provider's stock valued at $414,000 after acquiring an additional 230 shares during the period. New York State Teachers Retirement System increased its position in The Hanover Insurance Group by 2.6% in the 4th quarter. New York State Teachers Retirement System now owns 49,207 shares of the insurance provider's stock valued at $7,610,000 after acquiring an additional 1,244 shares during the period. Congress Asset Management Co. increased its position in shares of The Hanover Insurance Group by 42.5% during the fourth quarter. Congress Asset Management Co. now owns 46,091 shares of the insurance provider's stock worth $7,128,000 after buying an additional 13,750 shares during the period. Finally, Everhart Financial Group Inc. increased its position in shares of The Hanover Insurance Group by 3.9% during the fourth quarter. Everhart Financial Group Inc. now owns 3,506 shares of the insurance provider's stock worth $542,000 after buying an additional 132 shares during the period. Institutional investors own 86.61% of the company's stock.
The Hanover Insurance Group Stock Down 1.4%
The Hanover Insurance Group stock opened at $169.41 on Monday. The Hanover Insurance Group, Inc. has a 1-year low of $120.10 and a 1-year high of $178.68. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 14.49 and a beta of 0.45. The firm's fifty day moving average price is $166.48 and its two-hundred day moving average price is $162.62. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25.
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 earnings per share for the quarter, beating analysts' consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the firm earned $3.08 earnings per share. The business's quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is 29.98%.
Insider Buying and Selling at The Hanover Insurance Group
In related news, EVP Bryan J. Salvatore sold 10,526 shares of the firm's stock in a transaction dated 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 now directly owns 25,864 shares of the company's stock, valued at $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John C. Roche sold 301 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $175.00, for a total transaction of $52,675.00. Following the transaction, the chief executive officer now directly owns 124,414 shares in the company, valued at $21,772,450. The trade was a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,027 shares of company stock valued at $1,841,309. Corporate insiders own 2.50% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. JMP Securities raised their price target on shares of 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. 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. Morgan Stanley raised their price target 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $179.50.
Get Our Latest Analysis on THG
The Hanover Insurance Group Company Profile
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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.
See Also
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