Janney Montgomery Scott LLC Grows Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Janney Montgomery Scott LLC raised its position in The Hanover Insurance Group, Inc. (NYSE:THGGet Rating) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,426 shares of the insurance provider’s stock after purchasing an additional 124 shares during the quarter. Janney Montgomery Scott LLC’s holdings in The Hanover Insurance Group were worth $351,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. raised its holdings in shares of The Hanover Insurance Group by 139.2% during the 2nd quarter. Assetmark Inc. now owns 244 shares of the insurance provider’s stock valued at $36,000 after buying an additional 142 shares during the period. GHP Investment Advisors Inc. purchased a new stake in shares of The Hanover Insurance Group during the 1st quarter valued at about $37,000. Meeder Asset Management Inc. increased its holdings in The Hanover Insurance Group by 25,200.0% during the 1st quarter. Meeder Asset Management Inc. now owns 253 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Quent Capital LLC increased its holdings in The Hanover Insurance Group by 63.7% during the 1st quarter. Quent Capital LLC now owns 329 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 128 shares during the last quarter. Finally, Covestor Ltd increased its holdings in The Hanover Insurance Group by 35.4% during the 1st quarter. Covestor Ltd now owns 520 shares of the insurance provider’s stock worth $78,000 after purchasing an additional 136 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Price Performance

Shares of THG opened at $140.25 on Tuesday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.95 and a beta of 0.72. The stock has a 50 day moving average of $136.27 and a 200-day moving average of $138.96. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.34. The Hanover Insurance Group, Inc. has a 52 week low of $121.69 and a 52 week high of $155.55.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a $0.75 dividend. The ex-dividend date was Thursday, September 15th. This represents a $3.00 annualized dividend and a dividend yield of 2.14%. The Hanover Insurance Group’s payout ratio is 37.17%.

Insider Transactions at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 946 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $136.65, for a total transaction of $129,270.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Mark Joseph Welzenbach sold 2,673 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $142.21, for a total transaction of $380,127.33. Following the completion of the transaction, the executive vice president now owns 19,846 shares in the company, valued at approximately $2,822,299.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jane D. Carlin sold 946 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $136.65, for a total value of $129,270.90. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

THG has been the topic of several analyst reports. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $144.00 price objective on the stock. in a report on Monday, November 7th. Morgan Stanley dropped their price objective on The Hanover Insurance Group from $155.00 to $145.00 and set an “equal weight” rating on the stock in a report on Friday, August 19th. Janney Montgomery Scott initiated coverage on The Hanover Insurance Group in a report on Friday. They set a “buy” rating and a $164.00 price objective on the stock. Finally, StockNews.com downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, October 13th.

About The Hanover Insurance Group

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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 three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, and workers' compensation insurance products, as well as management and professional liability, marine, specialty industrial and commercial property, monoline general liability, surety, umbrella, fidelity, crime, and other commercial coverages.

Further Reading

Institutional Ownership by Quarter for The Hanover Insurance Group (NYSE:THG)

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