MBL Wealth LLC acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,880 shares of the insurance provider’s stock, valued at approximately $617,000.
Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new position in The Hanover Insurance Group during the second quarter worth $756,471,000. Dimensional Fund Advisors LP increased its stake in The Hanover Insurance Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after purchasing an additional 136,998 shares in the last quarter. First Trust Advisors LP increased its stake in The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock valued at $143,416,000 after purchasing an additional 25,945 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in The Hanover Insurance Group in the second quarter valued at $69,481,000. Finally, Bank of America Corp DE acquired a new position in shares of The Hanover Insurance Group during the second quarter valued at about $47,734,000. Institutional investors own 86.61% of the company’s stock.
The Hanover Insurance Group Stock Down 0.7%
Shares of NYSE THG traded down $1.60 during mid-day trading on Friday, reaching $237.99. 244,589 shares of the company’s stock traded hands, compared to its average volume of 255,254. The stock has a market cap of $8.29 billion, a P/E ratio of 11.36 and a beta of 0.23. The business has a 50-day simple moving average of $225.03 and a 200 day simple moving average of $209.43. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $239.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last posted its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $4.35 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, analysts expect that The Hanover Insurance Group, Inc. will post 20.25 EPS for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 11th. The Hanover Insurance Group’s payout ratio is currently 18.14%.
Insider Buying and Selling
In other news, EVP Dennis Kerrigan sold 2,104 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total value of $467,950.64. Following the transaction, the executive vice president owned 12,003 shares in the company, valued at $2,669,587.23. This trade represents a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jane Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the transaction, the director directly owned 2,270 shares in the company, valued at approximately $525,505. The trade was a 30.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,655 shares of company stock valued at $2,145,846 over the last three months. Corporate insiders own 2.80% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on THG. Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their target price on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods upped their price target on The Hanover Insurance Group from $222.00 to $232.00 and gave the stock a “market perform” rating in a research note on Friday, September 18th. Finally, Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.43.
Get Our Latest Stock Analysis on THG
The Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.
The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.
The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.
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