Envestnet Portfolio Solutions Inc. Grows Holdings in The Hanover Insurance Group, Inc. $THG

Envestnet Portfolio Solutions Inc. grew its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 114.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,287 shares of the insurance provider’s stock after buying an additional 4,417 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in The Hanover Insurance Group were worth $1,408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in THG. GAMMA Investing LLC increased its holdings in shares of The Hanover Insurance Group by 47.2% during the 1st quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider’s stock worth $87,000 after buying an additional 160 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in The Hanover Insurance Group by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,693 shares of the insurance provider’s stock valued at $1,512,000 after buying an additional 342 shares during the period. State of Alaska Department of Revenue raised its holdings in The Hanover Insurance Group by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 15,612 shares of the insurance provider’s stock valued at $2,715,000 after buying an additional 110 shares during the period. Johnson Investment Counsel Inc. purchased a new position in The Hanover Insurance Group in the first quarter valued at approximately $209,000. Finally, Blue Trust Inc. raised its holdings in The Hanover Insurance Group by 55.2% in the first quarter. Blue Trust Inc. now owns 1,322 shares of the insurance provider’s stock valued at $230,000 after buying an additional 470 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Up 1.5%

Shares of NYSE:THG opened at $171.01 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.11. The Hanover Insurance Group, Inc. has a 52-week low of $145.17 and a 52-week high of $186.46. The company has a 50 day moving average of $176.18 and a two-hundred day moving average of $169.74. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 11.26 and a beta of 0.44.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $1.28. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 earnings per share. As a group, analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, September 12th. The Hanover Insurance Group’s payout ratio is 23.70%.

Analyst Upgrades and Downgrades

THG has been the topic of several research reports. Morgan Stanley raised their price target on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. JMP Securities set a $205.00 price target on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Keefe, Bruyette & Woods upgraded shares of The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and set a $188.00 price target on the stock in a report on Wednesday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $188.00.

The Hanover Insurance Group Company 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.