Park Avenue Securities LLC Grows Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Park Avenue Securities LLC increased its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 5.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,813 shares of the insurance provider’s stock after buying an additional 285 shares during the quarter. Park Avenue Securities LLC’s holdings in The Hanover Insurance Group were worth $1,011,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in The Hanover Insurance Group by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 102 shares during the last quarter. Venturi Wealth Management LLC raised its stake in The Hanover Insurance Group by 49.5% during the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 90 shares during the period. True Wealth Design LLC raised its stake in The Hanover Insurance Group by 81.7% during the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 138 shares during the period. Versant Capital Management Inc raised its stake in The Hanover Insurance Group by 331.4% during the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 232 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in The Hanover Insurance Group by 4,675.0% during the 4th quarter. Jones Financial Companies Lllp now owns 382 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 374 shares during the period. 86.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Hanover Insurance Group

In other news, CEO John C. Roche sold 200 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $175.01, for a total value of $35,002.00. Following the sale, the chief executive officer now directly owns 124,278 shares of the company’s stock, valued at $21,749,892.78. The trade was a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bryan J. Salvatore sold 10,526 shares of The Hanover Insurance Group stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 25,864 shares in the company, valued at $4,308,942.40. This represents a 28.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,027 shares of company stock valued at $1,841,309. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

THG has been the topic of several recent research reports. 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. Keefe, Bruyette & Woods increased their target price on The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Piper Sandler increased their target price on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Wall Street Zen raised The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley increased their price target on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.50.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $171.61 on Friday. 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 company has a market cap of $6.16 billion, a PE ratio of 14.68 and a beta of 0.45. The business has a 50-day simple moving average of $166.15 and a two-hundred day simple moving average of $162.60. The Hanover Insurance Group, Inc. has a fifty-two week low of $119.66 and a fifty-two week high of $178.68.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the business posted $3.08 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, June 13th. The Hanover Insurance Group’s payout ratio is presently 29.98%.

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.