Mackenzie Financial Corp Has $542,000 Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Mackenzie Financial Corp lowered its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,466 shares of the insurance provider’s stock after selling 663 shares during the quarter. Mackenzie Financial Corp’s holdings in The Hanover Insurance Group were worth $542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in THG. UMB Bank n.a. increased its holdings in The Hanover Insurance Group by 55.6% in the fourth quarter. UMB Bank n.a. now owns 235 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 84 shares during the last quarter. Baystate Wealth Management LLC increased its stake in shares of The Hanover Insurance Group by 4,400.0% in the 4th quarter. Baystate Wealth Management LLC now owns 360 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 352 shares during the last quarter. Assetmark Inc. raised its position in shares of The Hanover Insurance Group by 13.8% in the 3rd quarter. Assetmark Inc. now owns 933 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 113 shares during the period. Signaturefd LLC boosted its stake in The Hanover Insurance Group by 37.9% during the 3rd quarter. Signaturefd LLC now owns 1,062 shares of the insurance provider’s stock worth $118,000 after acquiring an additional 292 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in The Hanover Insurance Group during the fourth quarter valued at approximately $197,000. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Stock Down 1.3 %

THG stock opened at $129.59 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $4.66 billion, a P/E ratio of 139.54 and a beta of 0.67. The Hanover Insurance Group, Inc. has a fifty-two week low of $103.82 and a fifty-two week high of $138.00. The business has a 50-day moving average of $131.20 and a 200-day moving average of $125.67.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.62. The Hanover Insurance Group had a return on equity of 2.44% and a net margin of 0.59%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.56 billion. On average, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 10.03 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, March 14th. The Hanover Insurance Group’s dividend payout ratio is currently 361.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on THG shares. Piper Sandler reiterated an “overweight” rating and issued a $147.00 target price on shares of The Hanover Insurance Group in a report on Monday, April 1st. StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of The Hanover Insurance Group in a report on Monday, April 15th. Oppenheimer reaffirmed an “outperform” rating and set a $150.00 price target on shares of The Hanover Insurance Group in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods boosted their price objective on The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.83.

Insider Buying and Selling

In other news, SVP Warren E. Barnes sold 500 shares of The Hanover Insurance Group stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $131.14, for a total value of $65,570.00. Following the completion of the transaction, the senior vice president now owns 3,612 shares of the company’s stock, valued at approximately $473,677.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

About The Hanover Insurance Group

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.