State of New Jersey Common Pension Fund D Grows Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

State of New Jersey Common Pension Fund D boosted its position in The Hanover Insurance Group, Inc. (NYSE:THGGet Rating) by 11.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,281 shares of the insurance provider’s stock after purchasing an additional 1,927 shares during the period. State of New Jersey Common Pension Fund D’s holdings in The Hanover Insurance Group were worth $2,343,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its position in The Hanover Insurance Group by 55.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 203 shares of the insurance provider’s stock worth $26,000 after buying an additional 72 shares in the last quarter. Assetmark Inc. increased its position in The Hanover Insurance Group by 139.2% during the second quarter. Assetmark Inc. now owns 244 shares of the insurance provider’s stock worth $36,000 after buying an additional 142 shares in the last quarter. Riverview Trust Co increased its position in The Hanover Insurance Group by 48.2% during the third quarter. Riverview Trust Co now owns 338 shares of the insurance provider’s stock worth $43,000 after buying an additional 110 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in The Hanover Insurance Group during the second quarter worth $47,000. Finally, Covestor Ltd increased its position in The Hanover Insurance Group by 35.4% during the first quarter. Covestor Ltd now owns 520 shares of the insurance provider’s stock worth $78,000 after buying an additional 136 shares in the last quarter. 86.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

THG has been the subject of several recent research reports. StockNews.com downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 13th. Janney Montgomery Scott started coverage on The Hanover Insurance Group in a report on Friday, November 11th. They set a “buy” rating and a $164.00 price objective on the stock. Piper Sandler raised their price objective on The Hanover Insurance Group from $144.00 to $151.00 in a report on Tuesday, January 10th. Finally, Morgan Stanley raised their price objective on The Hanover Insurance Group from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 22nd.

Insider Activity at The Hanover Insurance Group

In related news, EVP Mark Joseph Welzenbach sold 2,673 shares of The Hanover Insurance Group stock in a transaction on Friday, November 4th. The stock was sold at an average price of $142.21, for a total value of $380,127.33. Following the transaction, the executive vice president now owns 19,846 shares in the company, valued at $2,822,299.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by insiders.

The Hanover Insurance Group Price Performance

THG stock opened at $136.41 on Tuesday. The Hanover Insurance Group, Inc. has a 52-week low of $123.36 and a 52-week high of $155.55. The stock’s fifty day simple moving average is $139.36 and its 200-day simple moving average is $137.31. 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 stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 0.85 and a beta of 0.72.

The Hanover Insurance Group (NYSE:THGGet Rating) last issued its earnings results on Tuesday, November 1st. The insurance provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The Hanover Insurance Group had a return on equity of 13.26% and a net margin of 5.42%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Equities research analysts expect that The Hanover Insurance Group, Inc. will post 8.76 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were issued a $0.81 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $3.24 dividend on an annualized basis and a yield of 2.38%. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.75. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 40.15%.

The Hanover Insurance Group Profile

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The Hanover Insurance Group, Inc is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Commercial Lines, Personal Lines and Other. The Commercial Lines segment includes commercial multiple peril, commercial automobile, workers compensation and other commercial coverage, such as specialty program business, inland marine, management and professional liability and surety.

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Institutional Ownership by Quarter for The Hanover Insurance Group (NYSE:THG)

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