California State Teachers Retirement System Sells 1,207 Shares of The Hanover Insurance Group, Inc. $THG

California State Teachers Retirement System reduced its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,192 shares of the insurance provider's stock after selling 1,207 shares during the quarter. California State Teachers Retirement System owned about 0.12% of The Hanover Insurance Group worth $9,034,151 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of The Hanover Insurance Group in the 2nd quarter worth approximately $756,471,000. Dimensional Fund Advisors LP raised its position in The Hanover Insurance Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider's stock valued at $168,179,000 after acquiring an additional 136,998 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider's stock worth $143,416,000 after buying an additional 25,945 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider's stock valued at $133,073,000 after buying an additional 29,870 shares in the last quarter. Finally, Norges Bank acquired a new stake in The Hanover Insurance Group during the 4th quarter worth $83,817,000. Hedge funds and other institutional investors own 86.61% of the company's stock.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Dennis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $222.41, for a total value of $467,950.64. Following the transaction, the executive vice president owned 12,003 shares in the company, valued at $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jane D. Carlin sold 1,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the transaction, the director owned 2,270 shares in the company, valued at approximately $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,655 shares of company stock valued at $2,145,846. Corporate insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on THG shares. Piper Sandler lowered The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 target price for the company. in a research note on Wednesday, July 15th. Oppenheimer raised their target price on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Morgan Stanley lifted their price objective on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods boosted their price target on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. Finally, Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $225.71.

The Hanover Insurance Group Trading Up 0.3%

NYSE THG traded up $0.78 during trading hours on Tuesday, reaching $231.97. The company had a trading volume of 106,135 shares, compared to its average volume of 319,691. The stock has a market capitalization of $8.08 billion, a P/E ratio of 11.07 and a beta of 0.26. The stock has a 50-day moving average of $222.88 and a 200 day moving average of $199.49. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $236.07.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating analysts' consensus estimates of $3.84 by $1.47. The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.35 EPS. As a group, research analysts anticipate that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, September 11th. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 18.14%.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its offerings are designed for individuals, families, businesses and specialty-market customers, with a focus on helping policyholders manage risks involving property, automobiles, liability and business operations.

The company's personal lines business includes automobile, homeowners, renters, condominium, umbrella and related insurance products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.