Fenimore Asset Management Inc. lessened its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 96.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,325 shares of the insurance provider’s stock after selling 197,753 shares during the period. Fenimore Asset Management Inc.’s holdings in The Hanover Insurance Group were worth $924,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Raymond James & Associates lifted its holdings in shares of The Hanover Insurance Group by 14.0% in the 1st quarter. Raymond James & Associates now owns 14,446 shares of the insurance provider’s stock worth $2,160,000 after acquiring an additional 1,772 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in The Hanover Insurance Group in the first quarter worth about $209,000. HighTower Advisors LLC boosted its position in shares of The Hanover Insurance Group by 3.8% during the first quarter. HighTower Advisors LLC now owns 3,679 shares of the insurance provider’s stock valued at $550,000 after buying an additional 135 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of The Hanover Insurance Group by 5.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,221 shares of the insurance provider’s stock valued at $780,000 after buying an additional 277 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in shares of The Hanover Insurance Group by 2.7% in the first quarter. Natixis Advisors L.P. now owns 13,423 shares of the insurance provider’s stock worth $2,007,000 after buying an additional 355 shares during the period. 84.89% of the stock is currently owned by institutional investors.
The Hanover Insurance Group Stock Down 0.2 %
Shares of NYSE THG traded down $0.26 during midday trading on Friday, reaching $121.48. 11,290 shares of the company’s stock traded hands, compared to its average volume of 183,427. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -51.39, a P/E/G ratio of 4.07 and a beta of 0.62. The stock’s 50 day simple moving average is $120.41 and its 200-day simple moving average is $114.36. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.37. The Hanover Insurance Group, Inc. has a one year low of $103.82 and a one year high of $148.78.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its earnings results on Wednesday, November 1st. The insurance provider reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a negative return on equity of 4.16% and a negative net margin of 1.42%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. On average, analysts predict that The Hanover Insurance Group, Inc. will post 0.81 EPS for the current fiscal year.
The Hanover Insurance Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.80%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.81. The ex-dividend date is Thursday, December 14th. The Hanover Insurance Group’s dividend payout ratio is presently -143.46%.
Analyst Upgrades and Downgrades
THG has been the subject of a number of recent analyst reports. StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Monday, December 18th. Oppenheimer assumed coverage on shares of The Hanover Insurance Group in a report on Thursday, November 16th. They issued an “outperform” rating and a $135.00 price target on the stock. JMP Securities decreased their price objective on shares of The Hanover Insurance Group from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Friday, October 13th. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $138.00 to $143.00 and gave the stock an “overweight” rating in a research note on Friday, November 3rd. Finally, BMO Capital Markets raised shares of The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $125.00 to $126.00 in a research report on Thursday, August 31st. Two equities research 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 $134.00.
Check Out Our Latest Research Report on THG
About The Hanover Insurance Group
(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.
See Also
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