New York State Common Retirement Fund Has $5.95 Million Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

New York State Common Retirement Fund reduced its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 62.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 48,970 shares of the insurance provider’s stock after selling 81,724 shares during the quarter. New York State Common Retirement Fund’s holdings in The Hanover Insurance Group were worth $5,946,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of THG. Vanguard Group Inc. lifted its stake in The Hanover Insurance Group by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,610,736 shares of the insurance provider’s stock valued at $400,719,000 after acquiring an additional 22,047 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in The Hanover Insurance Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 950,037 shares of the insurance provider’s stock valued at $105,435,000 after buying an additional 3,635 shares during the last quarter. Ameriprise Financial Inc. lifted its position in The Hanover Insurance Group by 12.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 815,172 shares of the insurance provider’s stock worth $90,468,000 after buying an additional 88,456 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of The Hanover Insurance Group by 11,733.1% during the 4th quarter. International Assets Investment Management LLC now owns 465,039 shares of the insurance provider’s stock worth $56,465,000 after buying an additional 461,109 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of The Hanover Insurance Group by 3.0% in the 3rd quarter. Brown Advisory Inc. now owns 253,367 shares of the insurance provider’s stock valued at $28,119,000 after acquiring an additional 7,273 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on THG shares. TheStreet upgraded The Hanover Insurance Group from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of The Hanover Insurance Group in a report on Monday, April 15th. Oppenheimer boosted their target price on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler reiterated an “overweight” rating and issued a $147.00 price target on shares of The Hanover Insurance Group in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $143.33.

The Hanover Insurance Group Price Performance

NYSE:THG opened at $133.70 on Friday. The firm’s fifty day moving average price is $130.71 and its two-hundred day moving average price is $126.42. 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 company has a market cap of $4.80 billion, a P/E ratio of 29.98 and a beta of 0.67. The Hanover Insurance Group, Inc. has a one year low of $103.82 and a one year high of $138.00.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.62. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.56 billion. The Hanover Insurance Group had a net margin of 2.67% and a return on equity of 7.19%. Equities analysts expect that The Hanover Insurance Group, Inc. will post 10.03 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 14th. The Hanover Insurance Group’s payout ratio is 76.23%.

The Hanover Insurance Group 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.