TD Asset Management Inc lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 39.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,756 shares of the insurance provider's stock after selling 5,736 shares during the period. TD Asset Management Inc's holdings in The Hanover Insurance Group were worth $1,523,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cetera Investment Advisers grew its stake in shares of The Hanover Insurance Group by 62.7% in the 1st quarter. Cetera Investment Advisers now owns 6,692 shares of the insurance provider's stock worth $1,164,000 after buying an additional 2,578 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of The Hanover Insurance Group by 3.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 13,598 shares of the insurance provider's stock valued at $2,365,000 after buying an additional 406 shares during the period. Burney Co. bought a new stake in shares of The Hanover Insurance Group during the 1st quarter valued at about $202,000. KLP Kapitalforvaltning AS increased its holdings in The Hanover Insurance Group by 6.4% during the first quarter. KLP Kapitalforvaltning AS now owns 10,000 shares of the insurance provider's stock valued at $1,740,000 after buying an additional 600 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in The Hanover Insurance Group in the 1st quarter worth $435,000. Institutional investors own 86.61% of the company's stock.
The Hanover Insurance Group Stock Down 2.4%
The Hanover Insurance Group stock traded down $4.25 during trading hours on Thursday, reaching $169.31. The stock had a trading volume of 64,887 shares, compared to its average volume of 251,448. The business's 50 day moving average price is $168.25 and its 200-day moving average price is $165.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.37 and a quick ratio of 0.37. The Hanover Insurance Group, Inc. has a 52 week low of $130.69 and a 52 week high of $178.68. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 11.15 and a beta of 0.45.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $1.28. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%. The firm's revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share. Sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.
The Hanover Insurance Group Dividend Announcement
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 dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 23.70%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on THG shares. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. JMP Securities set a $205.00 price target on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Keefe, Bruyette & Woods upgraded 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 report on Wednesday, July 9th. Morgan Stanley raised their target price 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, August 1st. Finally, Wall Street Zen raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $185.13.
Check Out Our Latest Analysis on The Hanover Insurance Group
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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