Russell Investments Group Ltd. reduced its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating ) by 50.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,674 shares of the insurance provider’s stock after selling 66,736 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.18% of The Hanover Insurance Group worth $8,412,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its stake in shares of 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 in the last quarter. Assetmark Inc. raised its stake in shares of 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 buying an additional 142 shares in the last quarter. Ronald Blue Trust Inc. purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at approximately $47,000. Riverview Trust Co raised its stake in shares of 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 purchasing an additional 110 shares during the last quarter. Finally, Covestor Ltd boosted its stake 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 buying an additional 136 shares in the last quarter. Institutional investors own 86.39% of the company’s shares.
Shares of Hanover Insurance Group rose 1.0%
Shares of THG stock opened at $134.58 on Wednesday. Hanover Insurance Group, Inc. has a 12-month low of $123.36 and a 12-month high of $155.55. The firm has a market cap of $4.79 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.00 and a beta of 0.72. The stock has a 50-day moving average of $137.39 and a 200-day moving average of $136.25. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.34.
Hanover Insurance Group (NYSE:THG – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The insurance provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Hanover Insurance Group had a return on equity of 13.26% and a net margin of 5.42%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ estimates of $1.37 billion. On average, equities analysts predict that The Hanover Insurance Group, Inc. will post 5.54 EPS for the current year.
Hanover Insurance Group increases dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were given a dividend of $0.81 per share. The ex-dividend date was Wednesday, December 14th. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.75. This represents an annualized dividend of $3.24 and a dividend yield of 2.41%. Hanover Insurance Group’s payout ratio is 40.15%.
Changes in analyst ratings
A number of equities analysts have issued reports on the company. Piper Sandler upped their target price on The Hanover Insurance Group from $144.00 to $151.00 in a research report on Tuesday, January 10th. Janney Montgomery Scott assumed coverage on The Hanover Insurance Group in a research report on Friday, November 11th. They set a “buy” rating and a $164.00 target price for the company. BMO Capital Markets assumed coverage on The Hanover Insurance Group in a research report on Thursday, January 19th. They set a “market perform” rating and a $141.00 target price for the company. StockNews.com cut Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 13th. Finally, Morgan Stanley boosted their target price on The Hanover Insurance Group from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 22nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The Hanover Insurance Group presently has an average rating of “Hold” and an average target price of $151.50, according to MarketBeat.
Insider dealings at The Hanover Insurance Group
In related news, EVP Mark Joseph Weltzenbach sold 2,673 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $142.21, for a total value of $380,127.33. Following the completion of the transaction, the executive vice president now directly owns 19,846 shares in the company, valued at $2,822,299.66. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available through the SEC’s website. Corporate insiders own 2.50% of the company’s shares.
Hanover Insurance Group Company Profile
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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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