Blueshift Asset Management LLC purchased a new position in Hanover Insurance Group Inc (NYSE:THG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,726 shares of the insurance provider’s stock, valued at approximately $373,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Credit Suisse AG increased its holdings in Hanover Insurance Group by 5.5% in the 4th quarter. Credit Suisse AG now owns 75,752 shares of the insurance provider’s stock worth $10,353,000 after acquiring an additional 3,963 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in Hanover Insurance Group by 1,924.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 45,714 shares of the insurance provider’s stock worth $6,196,000 after acquiring an additional 43,456 shares in the last quarter. Barclays PLC increased its holdings in Hanover Insurance Group by 159.4% in the 3rd quarter. Barclays PLC now owns 26,310 shares of the insurance provider’s stock worth $3,565,000 after acquiring an additional 16,167 shares in the last quarter. Pacitti Group Inc. purchased a new stake in Hanover Insurance Group in the 4th quarter worth $55,000. Finally, Evoke Wealth LLC purchased a new stake in Hanover Insurance Group in the 3rd quarter worth $146,000. 88.23% of the stock is owned by institutional investors.
Hanover Insurance Group stock opened at $91.92 on Thursday. Hanover Insurance Group Inc has a 52-week low of $75.11 and a 52-week high of $144.71. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 8.77 and a beta of 0.67. The company has a fifty day simple moving average of $118.86 and a 200-day simple moving average of $131.07. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.22.
Hanover Insurance Group (NYSE:THG) last released its earnings results on Tuesday, February 4th. The insurance provider reported $2.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.08. Hanover Insurance Group had a net margin of 8.69% and a return on equity of 11.17%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm earned $1.51 earnings per share. On average, research analysts anticipate that Hanover Insurance Group Inc will post 8.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, March 12th. Hanover Insurance Group’s payout ratio is 31.86%.
In related news, SVP Warren E. Barnes sold 1,348 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $138.91, for a total value of $187,250.68. Following the completion of the sale, the senior vice president now owns 5,706 shares of the company’s stock, valued at $792,620.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Warren E. Barnes sold 675 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $134.96, for a total transaction of $91,098.00. Following the completion of the sale, the senior vice president now directly owns 5,033 shares of the company’s stock, valued at approximately $679,253.68. The disclosure for this sale can be found here. Insiders have sold 20,295 shares of company stock valued at $2,812,707 in the last ninety days. Insiders own 1.65% of the company’s stock.
Several equities research analysts recently commented on the stock. Piper Sandler cut their price target on shares of Hanover Insurance Group from $151.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, March 11th. ValuEngine raised shares of Hanover Insurance Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 11th. Zacks Investment Research lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Buckingham Research upped their target price on shares of Hanover Insurance Group from $142.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd.
About 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 in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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