Jane Street Group LLC Sells 15,031 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Jane Street Group LLC cut its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 55.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,290 shares of the insurance provider’s stock after selling 15,031 shares during the quarter. Jane Street Group LLC’s holdings in The Hanover Insurance Group were worth $1,901,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in THG. Barclays PLC boosted its stake in The Hanover Insurance Group by 61.5% in the 3rd quarter. Barclays PLC now owns 27,155 shares of the insurance provider’s stock worth $4,022,000 after purchasing an additional 10,341 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in The Hanover Insurance Group in the 4th quarter worth approximately $201,000. Congress Asset Management Co. boosted its stake in The Hanover Insurance Group by 42.5% in the 4th quarter. Congress Asset Management Co. now owns 46,091 shares of the insurance provider’s stock worth $7,128,000 after purchasing an additional 13,750 shares during the period. Hodges Capital Management Inc. boosted its stake in The Hanover Insurance Group by 48.8% in the 4th quarter. Hodges Capital Management Inc. now owns 76,503 shares of the insurance provider’s stock worth $11,832,000 after purchasing an additional 25,089 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in The Hanover Insurance Group by 7.5% in the 4th quarter. Bank of New York Mellon Corp now owns 349,125 shares of the insurance provider’s stock worth $53,996,000 after purchasing an additional 24,290 shares during the period. 86.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

THG has been the subject of several recent analyst reports. Barclays upgraded The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods upped their price objective on The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. Piper Sandler upped their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Morgan Stanley upped their price objective on The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, JMP Securities upped their price objective on The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.50.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $168.43 on Friday. The stock’s fifty day moving average is $165.31 and its 200 day moving average is $160.92. The Hanover Insurance Group, Inc. has a fifty-two week low of $119.66 and a fifty-two week high of $176.16. The firm has a market capitalization of $6.05 billion, a PE ratio of 14.41 and a beta of 0.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.29. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm posted $3.08 EPS. The Hanover Insurance Group’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, March 14th. This represents a $3.60 annualized dividend and a yield of 2.14%. The Hanover Insurance Group’s payout ratio is presently 29.98%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the transaction, the executive vice president now owns 25,864 shares of the company’s stock, valued at $4,308,942.40. This represents a 28.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John C. Roche sold 301 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now directly owns 124,414 shares in the company, valued at $21,772,450. This trade represents a 0.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,027 shares of company stock worth $1,841,309. Company insiders own 2.50% of the company’s stock.

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.