Teacher Retirement System of Texas Lowers Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Teacher Retirement System of Texas trimmed its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 30.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,835 shares of the insurance provider's stock after selling 20,334 shares during the period. Teacher Retirement System of Texas owned approximately 0.13% of The Hanover Insurance Group worth $7,973,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Highland Capital Management LLC grew its position in shares of The Hanover Insurance Group by 24.9% in the 1st quarter. Highland Capital Management LLC now owns 2,085 shares of the insurance provider's stock valued at $363,000 after buying an additional 416 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of The Hanover Insurance Group in the 1st quarter valued at $3,206,000. Wealthquest Corp purchased a new position in shares of The Hanover Insurance Group in the 1st quarter valued at $869,000. Lecap Asset Management Ltd. grew its position in shares of The Hanover Insurance Group by 68.3% in the 1st 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. acquired a new stake in The Hanover Insurance Group during the 1st quarter worth $2,342,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Price Performance

Shares of THG traded up $1.90 during trading hours on Friday, reaching $163.98. The company had a trading volume of 228,013 shares, compared to its average volume of 215,716. The firm has a 50 day simple moving average of $168.80 and a 200-day simple moving average of $163.51. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 13.65 and a beta of 0.44. The Hanover Insurance Group, Inc. has a 12-month low of $123.17 and a 12-month high of $178.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.58 by $0.29. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.55 billion. The Hanover Insurance Group had a net margin of 6.98% and a return on equity of 18.23%. The business's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.08 EPS. Research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $0.90 dividend. 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 2.20%. The Hanover Insurance Group's dividend payout ratio is presently 29.98%.

Insider Activity

In other news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction dated 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 in the company, valued at $4,308,942.40. This trade represents a 28.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on THG. Piper Sandler increased their price target on shares of 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. JMP Securities increased 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 research note on Thursday, May 1st. Wall Street Zen upgraded shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Morgan Stanley increased 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 research note on Monday, May 19th. Finally, Keefe, Bruyette & Woods increased 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 research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $179.50.

The Hanover Insurance Group Company 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.