Principal Financial Group Inc. Raises Stock Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Principal Financial Group Inc. lifted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,886 shares of the insurance provider’s stock after acquiring an additional 252 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of The Hanover Insurance Group worth $14,418,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Johnson Investment Counsel Inc. purchased a new position in The Hanover Insurance Group during the first quarter valued at approximately $209,000. Wealth Enhancement Advisory Services LLC increased its holdings in The Hanover Insurance Group by 31.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,351 shares of the insurance provider’s stock valued at $1,292,000 after buying an additional 1,996 shares during the period. Wealthquest Corp purchased a new position in The Hanover Insurance Group during the first quarter valued at approximately $869,000. Robeco Institutional Asset Management B.V. purchased a new position in The Hanover Insurance Group during the first quarter valued at approximately $3,206,000. Finally, GAMMA Investing LLC increased its holdings in The Hanover Insurance Group by 47.2% during the first quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider’s stock valued at $87,000 after buying an additional 160 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $163.49 on Friday. The Hanover Insurance Group, Inc. has a 12 month low of $126.50 and a 12 month high of $178.68. The firm has a fifty day simple moving average of $168.53 and a 200-day simple moving average of $163.83. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5.87 billion, a P/E ratio of 13.61 and a beta of 0.44.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, topping the consensus estimate of $3.58 by $0.29. The Hanover Insurance Group had a net margin of 6.98% and a return on equity of 18.23%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid 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 2.20%. The Hanover Insurance Group’s payout ratio is currently 29.98%.

Insider Activity at The Hanover Insurance Group

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the completion of the transaction, the executive vice president owned 25,864 shares of the company’s stock, valued at $4,308,942.40. This trade represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on THG. Morgan Stanley lifted their price objective on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a report on Wednesday. Wall Street Zen upgraded shares of The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Piper Sandler raised their target price on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Finally, JMP Securities raised their target price on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.38.

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.