Rhumbline Advisers Sells 1,273 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Rhumbline Advisers cut its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,109 shares of the insurance provider’s stock after selling 1,273 shares during the quarter. Rhumbline Advisers owned approximately 0.33% of The Hanover Insurance Group worth $15,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates increased its holdings in shares of The Hanover Insurance Group by 14.0% in the first quarter. Raymond James & Associates now owns 14,446 shares of the insurance provider’s stock worth $2,160,000 after purchasing an additional 1,772 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of The Hanover Insurance Group in the first quarter worth about $209,000. HighTower Advisors LLC increased its holdings in shares of The Hanover Insurance Group by 3.8% in the first quarter. HighTower Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $550,000 after purchasing an additional 135 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of The Hanover Insurance Group by 5.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,221 shares of the insurance provider’s stock worth $780,000 after purchasing an additional 277 shares during the last quarter. Finally, Natixis Advisors L.P. increased its holdings in shares of The Hanover Insurance Group by 2.7% in the first quarter. Natixis Advisors L.P. now owns 13,423 shares of the insurance provider’s stock worth $2,007,000 after purchasing an additional 355 shares during the last quarter. 84.89% of the stock is owned by institutional investors.

Insider Transactions at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,246 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $114.04, for a total transaction of $142,093.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $125.00 to $126.00 in a report on Thursday. Bank of America cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $142.00 to $130.00 in a report on Thursday, May 18th. StockNews.com assumed coverage on The Hanover Insurance Group in a report on Thursday, August 17th. They issued a “hold” rating on the stock. TheStreet cut The Hanover Insurance Group from a “b-” rating to a “c+” rating in a research note on Tuesday, May 9th. Finally, Piper Sandler raised The Hanover Insurance Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $155.00 to $153.00 in a research note on Thursday, July 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $143.29.

The Hanover Insurance Group Stock Up 0.7 %

Shares of NYSE:THG opened at $106.73 on Friday. The Hanover Insurance Group, Inc. has a 1 year low of $103.90 and a 1 year high of $148.78. The business has a 50 day simple moving average of $110.42 and a two-hundred day simple moving average of $119.62. The firm has a market capitalization of $3.82 billion, a PE ratio of -41.05, a price-to-earnings-growth ratio of 0.94 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.37 and a quick ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported ($1.91) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.91). The Hanover Insurance Group had a negative return on equity of 2.83% and a negative net margin of 1.60%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business earned $2.32 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, equities analysts predict that The Hanover Insurance Group, Inc. will post 3.05 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Thursday, June 15th. The Hanover Insurance Group’s payout ratio is presently -124.62%.

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.