Mitsubishi UFJ Trust & Banking Corp reduced its position in The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) by 27.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,087 shares of the insurance provider’s stock after selling 1,560 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in The Hanover Insurance Group were worth $598,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of THG. Victory Capital Management Inc. increased its holdings in shares of The Hanover Insurance Group by 378.3% during the second quarter. Victory Capital Management Inc. now owns 728,943 shares of the insurance provider’s stock worth $106,608,000 after purchasing an additional 576,556 shares during the period. Leeward Investments LLC MA acquired a new position in shares of The Hanover Insurance Group during the first quarter worth $25,408,000. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income acquired a new position in shares of The Hanover Insurance Group during the second quarter worth $11,701,000. State Street Corp raised its stake in The Hanover Insurance Group by 4.9% during the first quarter. State Street Corp now owns 1,096,740 shares of the insurance provider’s stock worth $163,985,000 after buying an additional 51,132 shares during the last quarter. Finally, BlackRock Inc. increased its stake in The Hanover Insurance Group by 1.6% in the first quarter. BlackRock Inc. now owns 3,235,297 shares of the insurance provider’s stock valued at $483,743,000 after purchasing an additional 50,073 shares in the last quarter. 85.81% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $144.00 price target on the stock. in a report on Monday, November 7th. StockNews.com cut shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Janney Montgomery Scott assumed coverage on shares of The Hanover Insurance Group in a research note on Friday, November 11th. They issued a “buy” rating and a $164.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of The Hanover Insurance Group from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Friday, August 19th.
Insider Buying and Selling
The Hanover Insurance Group Stock Performance
NYSE THG opened at $144.15 on Tuesday. The company’s 50 day moving average is $137.27 and its 200-day moving average is $138.72. The Hanover Insurance Group, Inc. has a 12-month low of $121.69 and a 12-month high of $155.55. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.34. The firm has a market cap of $5.13 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.72.
The Hanover Insurance Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, September 15th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 37.17%.
The Hanover Insurance Group Company 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 three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, and workers' compensation insurance products, as well as management and professional liability, marine, specialty industrial and commercial property, monoline general liability, surety, umbrella, fidelity, crime, and other commercial coverages.
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