1,240 Shares in The Hanover Insurance Group, Inc. (NYSE:THG) Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,240 shares of the insurance provider’s stock, valued at approximately $216,000.

A number of other institutional investors have also added to or reduced their stakes in THG. Wealth Enhancement Advisory Services LLC raised its holdings in shares of The Hanover Insurance Group by 31.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,351 shares of the insurance provider’s stock valued at $1,292,000 after acquiring an additional 1,996 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $53,996,000 after acquiring an additional 24,290 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of The Hanover Insurance Group in the 4th quarter valued at about $4,903,000. Markel Group Inc. increased its position in shares of The Hanover Insurance Group by 5.1% during the 4th quarter. Markel Group Inc. now owns 267,000 shares of the insurance provider’s stock valued at $41,294,000 after purchasing an additional 13,000 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of The Hanover Insurance Group by 9.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,276 shares of the insurance provider’s stock valued at $971,000 after purchasing an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on THG shares. Piper Sandler increased their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Wall Street Zen upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley increased their price objective on The Hanover Insurance Group from $163.00 to $170.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. JMP Securities increased their price objective on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods raised their price target on The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $179.50.

The Hanover Insurance Group Price Performance

Shares of THG stock opened at $167.18 on Wednesday. The firm has a market cap of $6.01 billion, a P/E ratio of 13.92 and a beta of 0.45. The Hanover Insurance Group, Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $178.68. The business’s 50 day moving average price is $167.04 and its 200-day moving average price is $162.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.38 and a current ratio of 0.38.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.29. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $3.08 EPS. On average, equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.90 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.15%. The Hanover Insurance Group’s dividend payout ratio is currently 29.98%.

Insider Transactions at The Hanover Insurance Group

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

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.