Mutual of America Capital Management LLC lowered its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,642 shares of the insurance provider’s stock after selling 568 shares during the quarter. Mutual of America Capital Management LLC owned 0.08% of The Hanover Insurance Group worth $3,680,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC increased its position in shares of The Hanover Insurance Group by 4.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,285 shares of the insurance provider’s stock worth $444,000 after acquiring an additional 135 shares during the period. Peregrine Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 10.0% during the first quarter. Peregrine Capital Management LLC now owns 77,711 shares of the insurance provider’s stock worth $9,986,000 after purchasing an additional 7,033 shares in the last quarter. Comerica Bank grew its stake in shares of The Hanover Insurance Group by 2.3% during the fourth quarter. Comerica Bank now owns 48,273 shares of the insurance provider’s stock worth $6,435,000 after purchasing an additional 1,108 shares in the last quarter. Alaska Permanent Fund Corp grew its stake in shares of The Hanover Insurance Group by 0.5% during the fourth quarter. Alaska Permanent Fund Corp now owns 52,838 shares of the insurance provider’s stock worth $7,140,000 after purchasing an additional 285 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new position in shares of The Hanover Insurance Group during the fourth quarter worth $203,000. Hedge funds and other institutional investors own 85.38% of the company’s stock.
The Hanover Insurance Group Stock Performance
NYSE THG opened at $112.34 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.35. The Hanover Insurance Group, Inc. has a 52-week low of $108.71 and a 52-week high of $148.78. The business’s 50-day moving average price is $112.76 and its 200 day moving average price is $123.31. The firm has a market cap of $4.01 billion, a P/E ratio of -43.21, a P/E/G ratio of 0.98 and a beta of 0.67.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last released its quarterly earnings results 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 return on equity of 2.83% and a negative net margin of 1.60%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $2.32 earnings per share. The business’s revenue was up 16.3% on a year-over-year basis. On average, equities research analysts expect that The Hanover Insurance Group, Inc. will post 3.07 earnings per share for the current year.
The Hanover Insurance Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were given a $0.81 dividend. The ex-dividend date was Thursday, June 15th. This represents a $3.24 dividend on an annualized basis and a yield of 2.88%. The Hanover Insurance Group’s payout ratio is currently -124.62%.
Wall Street Analysts Forecast Growth
THG has been the subject of a number of analyst reports. Piper Sandler upgraded shares of The Hanover Insurance Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $155.00 to $153.00 in a research note on Thursday, July 6th. StockNews.com initiated coverage on shares of The Hanover Insurance Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Bank of America downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $142.00 to $130.00 in a research note on Thursday, May 18th. Finally, JMP Securities decreased their price objective on shares of The Hanover Insurance Group from $170.00 to $160.00 in a research note on Wednesday, July 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently 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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