M&T Bank Corp Purchases 297 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

M&T Bank Corp grew its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 8.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,781 shares of the insurance provider’s stock after acquiring an additional 297 shares during the period. M&T Bank Corp’s holdings in The Hanover Insurance Group were worth $658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of The Hanover Insurance Group by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock valued at $33,000 after buying an additional 102 shares during the last quarter. True Wealth Design LLC increased its stake in shares of The Hanover Insurance Group by 81.7% during the fourth quarter. True Wealth Design LLC now owns 307 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 138 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of The Hanover Insurance Group by 331.4% during the first quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 232 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in The Hanover Insurance Group during the 1st quarter valued at about $53,000. Finally, Jones Financial Companies Lllp grew its stake in shares of The Hanover Insurance Group by 4,675.0% in the 4th quarter. Jones Financial Companies Lllp now owns 382 shares of the insurance provider’s stock valued at $59,000 after buying an additional 374 shares during the period. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Trading Down 1.6%

THG opened at $163.45 on Wednesday. The stock has a market capitalization of $5.87 billion, a PE ratio of 13.61 and a beta of 0.44. The Hanover Insurance Group, Inc. has a 12-month low of $129.02 and a 12-month high of $178.68. The firm’s fifty day moving average price is $168.42 and its 200 day moving average price is $163.96. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.38 and a quick ratio of 0.38.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results 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 Hanover Insurance Group had a net margin of 6.98% and a return on equity of 18.23%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company earned $3.08 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.20%. The Hanover Insurance Group’s dividend payout ratio is presently 29.98%.

Analysts Set New Price Targets

THG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded 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, July 9th. Piper Sandler raised their price objective 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. 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. Morgan Stanley boosted their price objective on shares of 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. Finally, JMP Securities boosted their price objective on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $181.38.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction dated Wednesday, May 7th. The shares were 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 owned 25,864 shares in the company, valued at $4,308,942.40. This represents a 28.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.50% of the stock is owned by corporate insiders.

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.