Congress Asset Management Co. MA raised its position in The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 0.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 19,853 shares of the insurance provider’s stock after purchasing an additional 109 shares during the period. Congress Asset Management Co. MA owned 0.06% of The Hanover Insurance Group worth $2,244,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC lifted its position in shares of The Hanover Insurance Group by 6.0% during the 1st quarter. ProShare Advisors LLC now owns 261,046 shares of the insurance provider’s stock valued at $33,544,000 after acquiring an additional 14,878 shares during the period. Peregrine Capital Management LLC raised its stake in The Hanover Insurance Group by 10.0% during the 1st quarter. Peregrine Capital Management LLC now owns 77,711 shares of the insurance provider’s stock worth $9,986,000 after buying an additional 7,033 shares during the period. Allworth Financial LP boosted its holdings in The Hanover Insurance Group by 4,208.3% in the second quarter. Allworth Financial LP now owns 517 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 505 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in The Hanover Insurance Group by 449.5% in the first quarter. Tower Research Capital LLC TRC now owns 9,797 shares of the insurance provider’s stock valued at $1,259,000 after acquiring an additional 8,014 shares during the period. Finally, Boston Trust Walden Corp bought a new stake in shares of The Hanover Insurance Group during the first quarter valued at approximately $28,359,000. Institutional investors and hedge funds own 84.89% of the company’s stock.
Insider Activity
In other news, Director Jane D. Carlin sold 1,246 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $114.04, for a total transaction of $142,093.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.40% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of The Hanover Insurance Group from $124.00 to $120.00 and set a “market perform” rating for the company in a research report on Tuesday, August 15th. StockNews.com began coverage on shares of The Hanover Insurance Group in a report on Thursday, October 5th. They set a “hold” rating for the company. BMO Capital Markets upgraded shares of The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $125.00 to $126.00 in a report on Thursday, August 31st. JMP Securities lowered their target price on shares of The Hanover Insurance Group from $160.00 to $150.00 and set a “market outperform” rating on the stock in a report on Friday. Finally, Piper Sandler lowered their target price on shares of The Hanover Insurance Group from $149.00 to $138.00 and set an “overweight” rating on the stock in a report on Friday, October 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.71.
View Our Latest Stock Report on The Hanover Insurance Group
The Hanover Insurance Group Trading Up 2.7 %
Shares of THG stock opened at $114.76 on Friday. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $148.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.37. The company has a 50-day simple moving average of $109.28 and a two-hundred day simple moving average of $114.54. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -44.14, a PEG ratio of 1.01 and a beta of 0.66.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported ($1.91) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.91). The Hanover Insurance Group had a negative net margin of 1.60% and a negative return on equity of 2.83%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $2.32 EPS. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. Research analysts anticipate that The Hanover Insurance Group, Inc. will post 3.01 EPS for the current fiscal year.
The Hanover Insurance Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, September 14th. The Hanover Insurance Group’s dividend payout ratio is currently -124.62%.
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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