AdvisorNet Financial Inc decreased its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 54.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 229 shares of the insurance provider’s stock after selling 274 shares during the quarter. AdvisorNet Financial Inc’s holdings in The Hanover Insurance Group were worth $29,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new position in shares of The Hanover Insurance Group during the 1st quarter worth approximately $27,000. Advisors Asset Management Inc. boosted its stake in shares of The Hanover Insurance Group by 129.8% during the 4th quarter. Advisors Asset Management Inc. now owns 216 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 122 shares during the period. GPS Wealth Strategies Group LLC bought a new position in shares of The Hanover Insurance Group during the 1st quarter worth approximately $40,000. Belpointe Asset Management LLC bought a new position in shares of The Hanover Insurance Group during the 4th quarter worth approximately $53,000. Finally, Assetmark Inc. boosted its stake in The Hanover Insurance Group by 21.0% in the 4th quarter. Assetmark Inc. now owns 415 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 85.38% of the company’s stock.
The Hanover Insurance Group Price Performance
The Hanover Insurance Group stock opened at $110.48 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.37 and a current ratio of 0.37. The Hanover Insurance Group, Inc. has a 52 week low of $108.71 and a 52 week high of $148.78. The stock has a market capitalization of $3.95 billion, a P/E ratio of -3,682.67, a price-to-earnings-growth ratio of 0.48 and a beta of 0.68. The stock has a fifty day moving average of $113.60 and a 200-day moving average of $124.89.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The insurance provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The Hanover Insurance Group had a positive return on equity of 3.62% and a negative net margin of 0.01%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the firm earned $3.26 EPS. On average, sell-side analysts expect that The Hanover Insurance Group, Inc. will post 6.25 earnings per share for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a dividend of $0.81 per share. The ex-dividend date was Thursday, June 15th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.93%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently -10,800.00%.
Analysts Set New Price Targets
Several analysts recently issued reports on THG shares. Keefe, Bruyette & Woods reduced their price target on The Hanover Insurance Group from $148.00 to $141.00 and set a “market perform” rating for the company in a research note on Tuesday, April 18th. StockNews.com started coverage on The Hanover Insurance Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. JMP Securities reduced their price target on The Hanover Insurance Group from $170.00 to $160.00 in a research note on Wednesday, July 12th. Piper Sandler upgraded The Hanover Insurance Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $155.00 to $153.00 in a research note on Thursday, July 6th. Finally, Bank of America downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $142.00 to $130.00 in a research report on Thursday, May 18th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $148.43.
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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