Wealthquest Corp Buys New Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Wealthquest Corp purchased a new stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,998 shares of the insurance provider's stock, valued at approximately $869,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of THG. Johnson Investment Counsel Inc. bought a new stake in shares of The Hanover Insurance Group in the first quarter valued at about $209,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of The Hanover Insurance Group by 31.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,351 shares of the insurance provider's stock worth $1,292,000 after purchasing an additional 1,996 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of The Hanover Insurance Group by 7.5% during the fourth quarter. Bank of New York Mellon Corp now owns 349,125 shares of the insurance provider's stock valued at $53,996,000 after purchasing an additional 24,290 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of The Hanover Insurance Group in the fourth quarter valued at $4,903,000. Finally, Markel Group Inc. lifted its position in The Hanover Insurance Group by 5.1% in the fourth quarter. Markel Group Inc. now owns 267,000 shares of the insurance provider's stock worth $41,294,000 after purchasing an additional 13,000 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The Hanover Insurance Group news, CEO John C. Roche sold 301 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $175.00, for a total transaction of $52,675.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bryan J. Salvatore sold 10,526 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the completion of the transaction, the executive vice president now directly owns 25,864 shares in the company, valued at $4,308,942.40. This trade represents a 28.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.50% of the company's stock.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG traded up $1.36 during midday trading on Thursday, reaching $167.02. The company's stock had a trading volume of 50,072 shares, compared to its average volume of 213,317. The business's fifty day simple moving average is $168.17 and its 200-day simple moving average is $162.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38. The Hanover Insurance Group, Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $178.68. The company has a market capitalization of $6.00 billion, a P/E ratio of 13.91 and a beta of 0.45.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a net margin of 6.98% and a return on equity of 18.23%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. As a group, equities research 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.90 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.16%. The Hanover Insurance Group's payout ratio is 29.98%.

Analyst Ratings Changes

THG has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. JMP Securities lifted their price objective on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a "market outperform" rating in a report on Thursday, May 1st. Morgan Stanley raised their target price on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wall Street Zen upgraded The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.