Wedge Capital Management L L P NC Has $4.29 Million Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Wedge Capital Management L L P NC lessened its position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 23.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,643 shares of the insurance provider's stock after selling 7,641 shares during the period. Wedge Capital Management L L P NC owned about 0.07% of The Hanover Insurance Group worth $4,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in The Hanover Insurance Group by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 102 shares during the last quarter. Venturi Wealth Management LLC increased its stake in The Hanover Insurance Group by 49.5% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider's stock valued at $42,000 after purchasing an additional 90 shares during the last quarter. True Wealth Design LLC lifted its position in The Hanover Insurance Group by 81.7% during the fourth quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock worth $47,000 after buying an additional 138 shares during the period. Versant Capital Management Inc boosted its stake in The Hanover Insurance Group by 331.4% in the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock worth $53,000 after buying an additional 232 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in The Hanover Insurance Group by 4,675.0% in the 4th quarter. Jones Financial Companies Lllp now owns 382 shares of the insurance provider's stock valued at $59,000 after buying an additional 374 shares during the period. Hedge funds and other institutional investors own 86.61% of the company's stock.

Insider Activity at The Hanover Insurance Group

In related news, CEO John C. Roche sold 301 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $175.00, for a total transaction of $52,675.00. Following the sale, the chief executive officer now owns 124,414 shares of the company's stock, valued at $21,772,450. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 25,864 shares of the company's stock, valued at approximately $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 have sold a total of 11,027 shares of company stock worth $1,841,309 in the last three months. 2.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on THG. Piper Sandler raised their target price on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. JMP Securities increased their target price on The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods upped their price target on 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. 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 research note on Monday, May 19th. Finally, Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $179.50.

The Hanover Insurance Group Stock Performance

THG traded down $1.16 during trading on Wednesday, reaching $169.88. 178,249 shares of the company were exchanged, compared to its average volume of 212,350. The Hanover Insurance Group, Inc. has a 52 week low of $119.66 and a 52 week high of $178.68. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $165.49 and a 200 day moving average of $162.48. The stock has a market cap of $6.10 billion, a P/E ratio of 14.53 and a beta of 0.45.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, topping the consensus estimate of $3.58 by $0.29. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.55 billion. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 earnings per share. On average, sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is 29.98%.

The Hanover Insurance Group 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.