Vaughan Nelson Investment Management L.P. acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 369,880 shares of the insurance provider's stock, valued at approximately $64,340,000. Vaughan Nelson Investment Management L.P. owned 1.03% of The Hanover Insurance Group at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in The Hanover Insurance Group in the 4th quarter valued at approximately $67,928,000. Franklin Resources Inc. boosted its stake in The Hanover Insurance Group by 28.6% in the fourth quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider's stock worth $188,363,000 after purchasing an additional 270,491 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in The Hanover Insurance Group during the 4th quarter worth about $21,797,000. American Century Companies Inc. grew its stake in shares of The Hanover Insurance Group by 15.7% during the fourth quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider's stock valued at $148,297,000 after purchasing an additional 130,054 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of The Hanover Insurance Group by 75.7% in the 4th quarter. AQR Capital Management LLC now owns 287,356 shares of the insurance provider's stock valued at $44,443,000 after buying an additional 123,793 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.
The Hanover Insurance Group Stock Performance
Shares of NYSE:THG traded down $0.96 on Wednesday, hitting $166.37. The company had a trading volume of 144,678 shares, compared to its average volume of 212,573. The Hanover Insurance Group, Inc. has a 1-year low of $120.10 and a 1-year high of $178.68. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 13.85 and a beta of 0.45. The stock has a 50 day moving average price of $167.04 and a 200 day moving average price of $162.69. 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 Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.29. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.08 EPS. Analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.
The Hanover Insurance Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.16%. The Hanover Insurance Group's payout ratio is 29.98%.
Insider Buying and Selling
In other news, CEO John C. Roche sold 301 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now directly owns 124,414 shares in the company, valued at approximately $21,772,450. This represents a 0.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan J. Salvatore sold 10,526 shares of The Hanover Insurance Group 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 sale, the executive vice president now directly owns 25,864 shares in the company, valued at $4,308,942.40. The trade was a 28.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,027 shares of company stock valued at $1,841,309 over the last quarter. 2.50% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Morgan Stanley lifted their price objective on The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. JMP Securities upped their target price 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. 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 research note on Wednesday, May 7th. Finally, Piper Sandler lifted their target price on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, The Hanover Insurance Group presently has an average rating of "Moderate Buy" and a consensus price target of $179.50.
Check Out Our Latest Report on THG
The Hanover Insurance Group Company Profile
(
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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