Lazard Asset Management LLC Has $16.91 Million Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Lazard Asset Management LLC cut its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 20.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,355 shares of the insurance provider's stock after selling 28,724 shares during the period. Lazard Asset Management LLC owned about 0.30% of The Hanover Insurance Group worth $16,912,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of THG. Barclays PLC grew its stake in The Hanover Insurance Group by 61.5% in the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider's stock worth $4,022,000 after purchasing an additional 10,341 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of The Hanover Insurance Group by 226.0% in the fourth quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider's stock valued at $52,000 after purchasing an additional 235 shares during the period. Eagle Bay Advisors LLC increased its stake in shares of The Hanover Insurance Group by 502.1% in the fourth quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider's stock valued at $44,000 after purchasing an additional 236 shares during the period. Oak Thistle LLC acquired a new position in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $1,046,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $201,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

THG has been the subject of a number of research reports. Keefe, Bruyette & Woods raised 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. StockNews.com raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Barclays upgraded shares of The Hanover Insurance Group to a "hold" rating in a research report on Friday, January 24th. Piper Sandler raised 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. Finally, JMP Securities raised their price target on shares of 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. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $179.50.

Insider Activity

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the business's 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John C. Roche sold 200 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $175.01, for a total transaction of $35,002.00. Following the completion of the transaction, the chief executive officer now owns 124,278 shares in the company, valued at approximately $21,749,892.78. This trade represents a 0.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,027 shares of company stock worth $1,841,309. Corporate insiders own 2.50% of the company's stock.

The Hanover Insurance Group Stock Performance

Shares of NYSE:THG traded up $2.50 on Friday, hitting $168.43. 158,600 shares of the company were exchanged, compared to its average volume of 207,827. The company's 50 day moving average price is $165.31 and its two-hundred day moving average price is $160.85. The Hanover Insurance Group, Inc. has a one year low of $119.66 and a one year high of $176.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 14.41 and a beta of 0.44.

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 (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.29. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. The business's revenue was up 3.4% compared to the same quarter last year. Research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.14%. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 29.98%.

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.