FourThought Financial LLC raised its holdings in The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,338 shares of the insurance provider’s stock after acquiring an additional 112 shares during the quarter. FourThought Financial LLC’s holdings in The Hanover Insurance Group were worth $171,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in The Hanover Insurance Group by 0.3% during the third quarter. Vanguard Group Inc. now owns 3,690,436 shares of the insurance provider’s stock valued at $472,893,000 after purchasing an additional 10,204 shares in the last quarter. BlackRock Inc. boosted its holdings in The Hanover Insurance Group by 1.6% during the first quarter. BlackRock Inc. now owns 3,235,297 shares of the insurance provider’s stock valued at $483,743,000 after acquiring an additional 50,073 shares during the period. State Street Corp raised its position in shares of The Hanover Insurance Group by 0.6% during the third quarter. State Street Corp now owns 1,105,729 shares of the insurance provider’s stock valued at $141,688,000 after buying an additional 6,529 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of The Hanover Insurance Group by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,066,220 shares of the insurance provider’s stock valued at $155,934,000 after buying an additional 29,441 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of The Hanover Insurance Group by 9.7% during the third quarter. Alliancebernstein L.P. now owns 1,029,102 shares of the insurance provider’s stock valued at $131,869,000 after buying an additional 91,418 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.
Insider Activity at The Hanover Insurance Group
In related news, SVP Warren E. Barnes sold 862 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $138.51, for a total value of $119,395.62. Following the sale, the senior vice president now owns 4,075 shares in the company, valued at approximately $564,428.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by corporate insiders.
The Hanover Insurance Group Trading Down 4.5 %
The Hanover Insurance Group (NYSE:THG – Get Rating) last posted its earnings results on Wednesday, February 1st. The insurance provider reported ($1.05) EPS for the quarter, hitting analysts’ consensus estimates of ($1.05). The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. The Hanover Insurance Group had a net margin of 2.12% and a return on equity of 7.98%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.38 earnings per share. On average, analysts forecast that The Hanover Insurance Group, Inc. will post 9.72 earnings per share for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a dividend of $0.81 per share. The ex-dividend date is Tuesday, March 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.67%. The Hanover Insurance Group’s payout ratio is presently 100.93%.
Analyst Ratings Changes
A number of analysts recently weighed in on THG shares. Morgan Stanley upped their target price on shares of The Hanover Insurance Group from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 22nd. Piper Sandler raised their price target on The Hanover Insurance Group from $144.00 to $151.00 in a report on Tuesday, January 10th. JMP Securities reiterated a “market outperform” rating and issued a $170.00 price target on shares of The Hanover Insurance Group in a report on Friday, February 3rd. StockNews.com assumed coverage on The Hanover Insurance Group in a research note on Thursday. They issued a “hold” rating on the stock. Finally, BMO Capital Markets assumed coverage on The Hanover Insurance Group in a report on Thursday, January 19th. They issued a “market perform” rating and a $141.00 price target for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Hold” and a consensus price target of $155.20.
About The Hanover Insurance Group
The Hanover Insurance Group, Inc is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Commercial Lines, Personal Lines and Other. The Commercial Lines segment includes commercial multiple peril, commercial automobile, workers compensation and other commercial coverage, such as specialty program business, inland marine, management and professional liability and surety.
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