The Hanover Insurance Group, Inc. $THG Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in The Hanover Insurance Group by 64.6%, holding only 3,100 shares after selling 5,656 shares in the second quarter.
• Wall Street analysts have a consensus price target of $188.00 for The Hanover Insurance Group, with seven out of ten analysts rating it as a Buy.
• The Hanover Insurance Group reported an EPS of $4.35 for the last quarter, exceeding expectations and marking a 3.1% increase in revenue year-over-year.

TD Asset Management Inc lessened its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 64.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,100 shares of the insurance provider's stock after selling 5,656 shares during the period. TD Asset Management Inc's holdings in The Hanover Insurance Group were worth $527,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in The Hanover Insurance Group in the 1st quarter valued at approximately $27,000. Ameritas Advisory Services LLC purchased a new position in The Hanover Insurance Group in the 2nd quarter valued at approximately $39,000. Northwestern Mutual Wealth Management Co. boosted its position in The Hanover Insurance Group by 819.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 386 shares of the insurance provider's stock valued at $67,000 after buying an additional 344 shares during the period. UMB Bank n.a. boosted its position in The Hanover Insurance Group by 20.3% in the 2nd quarter. UMB Bank n.a. now owns 468 shares of the insurance provider's stock valued at $79,000 after buying an additional 79 shares during the period. Finally, GAMMA Investing LLC boosted its position in The Hanover Insurance Group by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider's stock valued at $87,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 86.61% of the company's stock.

Wall Street Analysts Forecast Growth

THG has been the subject of several recent research reports. Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price target for the company in a research report on Wednesday, July 9th. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of The Hanover Insurance Group in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 7th. Finally, JMP Securities set a $205.00 price target on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $188.00.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $174.32 on Friday. The stock has a market cap of $6.24 billion, a P/E ratio of 11.48 and a beta of 0.44. The company has a fifty day simple moving average of $176.46 and a 200-day simple moving average of $170.02. The Hanover Insurance Group, Inc. has a 12-month low of $145.17 and a 12-month high of $186.46. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $1.28. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the previous year, the company earned $1.88 EPS. The company's revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.60 dividend on an annualized basis and a yield of 2.1%. The Hanover Insurance Group's payout ratio is 23.70%.

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.

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