Mesirow Institutional Investment Management Inc. Sells 35,702 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Mesirow Institutional Investment Management Inc. lessened its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 24.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,553 shares of the insurance provider's stock after selling 35,702 shares during the period. The Hanover Insurance Group accounts for 1.3% of Mesirow Institutional Investment Management Inc.'s portfolio, making the stock its 29th biggest holding. Mesirow Institutional Investment Management Inc. owned about 0.31% of The Hanover Insurance Group worth $13,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Comerica Bank raised its holdings in The Hanover Insurance Group by 321.8% during the third quarter. Comerica Bank now owns 51,519 shares of the insurance provider's stock worth $5,718,000 after purchasing an additional 39,306 shares in the last quarter. Buckhead Capital Management LLC lifted its holdings in shares of The Hanover Insurance Group by 48.5% in the fourth quarter. Buckhead Capital Management LLC now owns 15,440 shares of the insurance provider's stock valued at $1,875,000 after buying an additional 5,045 shares during the period. Leeward Investments LLC MA boosted its stake in The Hanover Insurance Group by 13.1% during the fourth quarter. Leeward Investments LLC MA now owns 126,866 shares of the insurance provider's stock valued at $15,404,000 after buying an additional 14,686 shares in the last quarter. Hsbc Holdings PLC grew its holdings in The Hanover Insurance Group by 28.8% during the third quarter. Hsbc Holdings PLC now owns 29,392 shares of the insurance provider's stock worth $3,290,000 after acquiring an additional 6,579 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in The Hanover Insurance Group by 547.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 13,500 shares of the insurance provider's stock worth $1,498,000 after acquiring an additional 11,416 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Stock Down 0.3 %

Shares of THG traded down $0.45 during trading hours on Friday, reaching $135.42. The company's stock had a trading volume of 104,798 shares, compared to its average volume of 178,824. The company has a 50 day moving average of $131.00 and a two-hundred day moving average of $127.08. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.31. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 30.36 and a beta of 0.67. The Hanover Insurance Group, Inc. has a 1-year low of $103.82 and a 1-year high of $138.00.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.40 dividend on an annualized basis and a yield of 2.51%. The Hanover Insurance Group's payout ratio is 76.23%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 10th. Piper Sandler reiterated an "overweight" rating and set a $147.00 price objective on shares of The Hanover Insurance Group in a research report on Monday, April 1st. JMP Securities restated a "market outperform" rating and issued a $150.00 target price on shares of The Hanover Insurance Group in a report on Monday, April 15th. TheStreet raised The Hanover Insurance Group from a "c+" rating to a "b-" rating in a report on Tuesday, February 27th. Finally, Oppenheimer lifted their price target on The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, May 3rd. Two 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 stock has an average rating of "Moderate Buy" and an average price target of $143.33.

Insider Activity

In related news, EVP Willard T. Lee sold 1,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $135.94, for a total transaction of $135,940.00. Following the completion of the sale, the executive vice president now directly owns 4,398 shares in the company, valued at $597,864.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

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.