Envestnet Asset Management Inc. Purchases 7,661 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Envestnet Asset Management Inc. lifted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,632 shares of the insurance provider’s stock after purchasing an additional 7,661 shares during the quarter. Envestnet Asset Management Inc. owned 0.31% of The Hanover Insurance Group worth $19,592,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of THG. HM Payson & Co. boosted its stake in shares of The Hanover Insurance Group by 6.7% during the first quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider’s stock valued at $185,000 after purchasing an additional 67 shares in the last quarter. Palisade Capital Management LP grew its stake in The Hanover Insurance Group by 3.7% in the first quarter. Palisade Capital Management LP now owns 19,310 shares of the insurance provider’s stock valued at $3,359,000 after acquiring an additional 694 shares during the period. Principal Financial Group Inc. grew its stake in The Hanover Insurance Group by 0.3% in the first quarter. Principal Financial Group Inc. now owns 82,886 shares of the insurance provider’s stock valued at $14,418,000 after acquiring an additional 252 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of The Hanover Insurance Group by 4.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 7,587 shares of the insurance provider’s stock valued at $1,320,000 after buying an additional 300 shares during the last quarter. Finally, Highland Capital Management LLC boosted its position in shares of The Hanover Insurance Group by 24.9% during the first quarter. Highland Capital Management LLC now owns 2,085 shares of the insurance provider’s stock valued at $363,000 after buying an additional 416 shares during the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Bryan J. Salvatore sold 10,526 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 25,864 shares in the company, valued at $4,308,942.40. The trade was a 28.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.

The Hanover Insurance Group Stock Up 0.2%

THG stock opened at $163.70 on Thursday. The firm has a market cap of $5.88 billion, a PE ratio of 13.63 and a beta of 0.44. The business has a 50 day moving average of $168.35 and a 200 day moving average of $163.96. The Hanover Insurance Group, Inc. has a twelve month low of $130.44 and a twelve month high of $178.68. 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 Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) 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 the consensus estimate of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business posted $3.08 EPS. On average, research analysts forecast 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 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 yield of 2.20%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 29.98%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on THG shares. Piper Sandler upped their price target 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. Morgan Stanley upped 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. Keefe, Bruyette & Woods upgraded 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 research report on Wednesday, July 9th. Wall Street Zen upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Finally, JMP Securities increased 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.38.

About The Hanover Insurance Group

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.