Wealth Enhancement Advisory Services LLC Grows Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Wealth Enhancement Advisory Services LLC raised its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,693 shares of the insurance provider’s stock after acquiring an additional 342 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in The Hanover Insurance Group were worth $1,512,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of THG. Bank of New York Mellon Corp boosted its holdings in The Hanover Insurance Group by 7.5% during the fourth 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 last quarter. Proficio Capital Partners LLC bought a new position in shares of The Hanover Insurance Group during the 4th quarter worth approximately $4,903,000. Markel Group Inc. lifted 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 worth $41,294,000 after buying an additional 13,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of The Hanover Insurance Group by 9.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,276 shares of the insurance provider’s stock worth $971,000 after buying an additional 517 shares during the last quarter. Finally, Vest Financial LLC bought a new position in shares of The Hanover Insurance Group in the first quarter valued at approximately $848,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hanover Insurance Group

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the sale, the executive vice president directly owned 25,864 shares in the company, valued at approximately $4,308,942.40. The trade was a 28.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by insiders.

The Hanover Insurance Group Price Performance

NYSE THG opened at $169.62 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market cap of $6.09 billion, a PE ratio of 14.12 and a beta of 0.45. The Hanover Insurance Group, Inc. has a 52 week low of $123.17 and a 52 week high of $178.68. The firm’s 50-day simple moving average is $168.68 and its two-hundred day simple moving average is $163.26.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.29. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. The Hanover Insurance Group had a net margin of 6.98% and a return on equity of 18.23%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.08 earnings per share. Research analysts predict 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 announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.12%. The Hanover Insurance Group’s dividend payout ratio is currently 29.98%.

Wall Street Analysts Forecast Growth

THG has been the topic of a number of recent analyst reports. JMP Securities lifted their price target 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. Morgan Stanley lifted their target price on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Piper Sandler increased their price target on shares of 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 shares of The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $171.00 to $173.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $179.50.

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.