Nisa Investment Advisors LLC lifted its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 25.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,437 shares of the insurance provider’s stock after acquiring an additional 3,095 shares during the quarter. Nisa Investment Advisors LLC’s holdings in The Hanover Insurance Group were worth $3,305,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in The Hanover Insurance Group in the 2nd quarter valued at $756,471,000. Bank of New York Mellon Corp purchased a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at $69,481,000. Bank of America Corp DE purchased a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at $47,734,000. Primecap Management Co. CA purchased a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at $37,844,000. Finally, William Blair Investment Management LLC bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth $33,034,000. 86.61% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on THG shares. Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a report on Thursday, October 8th. Royal Bank Of Canada increased their price target on shares of 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. Morgan Stanley decreased their price objective on shares of The Hanover Insurance Group from $240.00 to $230.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Piper Sandler lowered shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the company a “market perform” rating in a research note on Friday, September 18th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.43.
Read Our Latest Analysis on The Hanover Insurance Group
Insider Transactions at The Hanover Insurance Group
In other The Hanover Insurance Group news, Director Jane Carlin sold 1,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the transaction, the director owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dennis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the transaction, the executive vice president owned 12,003 shares of the company’s stock, valued at $2,669,587.23. The trade was a 14.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,655 shares of company stock worth $2,145,846 over the last 90 days. 2.80% of the stock is currently owned by company insiders.
The Hanover Insurance Group Stock Performance
NYSE:THG opened at $237.99 on Friday. 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 business has a fifty day simple moving average of $225.03 and a two-hundred 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 market capitalization of $8.29 billion, a P/E ratio of 11.36 and a beta of 0.23.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $4.35 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, analysts expect that The Hanover Insurance Group, Inc. will post 20.25 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, September 25th. Investors of record on Friday, September 11th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, September 11th. The Hanover Insurance Group’s payout ratio is currently 18.14%.
About The Hanover Insurance Group
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.
See Also
- Five stocks we like better than The Hanover Insurance Group
- Bloom Energy Just Reported—Its Biggest Order Is Still Waiting on a Pipeline
- Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
Receive News & Ratings for The Hanover Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hanover Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.
