The Manufacturers Life Insurance Company reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE: THG – Get Rating ) by 3.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,891 shares of the insurance provider’s stock after selling 911 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of The Hanover Insurance Group worth $3,702,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. GPS Wealth Strategies Group LLC boosted its holdings in The Hanover Insurance Group by 55.0% in the third quarter. GPS Wealth Strategies Group LLC now owns 203 shares of the insurance provider’s stock valued at $26,000 after buying an additional 72 shares during the last quarter. Assetmark Inc. boosted its holdings in The Hanover Insurance Group by 139.2% in the second quarter. Assetmark Inc. now owns 244 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 142 shares during the last quarter. Riverview Trust Co boosted its holdings in The Hanover Insurance Group by 48.2% in the third quarter. Riverview Trust Co now owns 338 shares of the insurance provider’s stock valued at $43,000 after buying an additional 110 shares during the last quarter. Ronald Blue Trust Inc. purchased a new position in The Hanover Insurance Group in the second quarter valued at $47,000. Finally, Covestor Ltd boosted its holdings in shares of The Hanover Insurance Group by 35.4% in the first quarter. Covestor Ltd now owns 520 shares of the insurance provider’s stock valued at $78,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 86.39% of the company’s shares.
Insider buying and selling
In related news, EVP Mark Joseph Weltzenbach sold 2,673 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $142.21, for a total transaction of $380,127.33. Following the completion of the transaction, the executive vice president now owns 19,846 shares in the company, valued at approximately $2,822,299.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Insiders own 2.50% of the company’s stock.
Hanover Insurance Group trading down 1.3%
Shares of The Hanover Insurance Group stock opened at $132.81 on Thursday. The firm has a 50-day SMA of $137.13 and a 200-day SMA of $136.23. The company has a market cap of $4.72 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.00 and a beta of 0.72. Hanover Insurance Group, Inc. has a fifty-two week low of $123.36 and a fifty-two week high of $155.55. The company has a debt-to-equity ratio of 0.34, a quick earnings ratio of 0.39, and a current ratio of 0.39.
Hanover Insurance Group (NYSE:THG – Get Rating ) last issued its quarterly earnings data on Tuesday, November 1st. The insurance provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.37 billion. Hanover Insurance Group had a net margin of 5.42% and a return on equity of 13.26%. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will report 5.54 earnings per share for the current fiscal year.
Hanover Insurance Group increases dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were given a $0.81 dividend. The ex-dividend date was Wednesday, December 14th. This represents an annualized dividend of $3.24 and a dividend yield of 2.44%. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.75. Hanover Insurance Group’s dividend payout ratio is 40.15%.
Analysts set new price targets
THG has been the subject of a number of analyst reports. Janney Montgomery Scott initiated coverage on shares of The Hanover Insurance Group in a report on Friday, November 11th. They set a “buy” rating and a $164.00 target price on the stock. BMO Capital Markets initiated coverage on shares of The Hanover Insurance Group in a report on Thursday, January 19th. They set a “market perform” rating and a $141.00 target price on the stock. Morgan Stanley boosted their price objective on shares of The Hanover Insurance Group from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, November 22nd. Piper Sandler boosted their target price on shares of The Hanover Insurance Group from $144.00 to $151.00 in a report on Tuesday, January 10th. Finally, StockNews.com lowered shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, October 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $151.50, according to MarketBeat.com.
About Hanover Insurance Group
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Hanover Insurance Group, Inc is a holding company engaged in the provision of property and casualty products and services. It operates through the following segments: commercial lines, personal lines and others. The commercial lines segment includes commercial multiple risks, commercial auto, workers’ compensation and other commercial coverages such as special program business, inland marine, management and professional liability and surety.
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