First Hawaiian Bank Sells 4,582 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

First Hawaiian Bank reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 24.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,236 shares of the insurance provider’s stock after selling 4,582 shares during the quarter. First Hawaiian Bank’s holdings in The Hanover Insurance Group were worth $1,609,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ProShare Advisors LLC grew its stake in shares of The Hanover Insurance Group by 6.0% during the first quarter. ProShare Advisors LLC now owns 261,046 shares of the insurance provider’s stock valued at $33,544,000 after purchasing an additional 14,878 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of The Hanover Insurance Group by 4.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,285 shares of the insurance provider’s stock valued at $444,000 after purchasing an additional 135 shares during the last quarter. Peregrine Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 10.0% during the first quarter. Peregrine Capital Management LLC now owns 77,711 shares of the insurance provider’s stock valued at $9,986,000 after purchasing an additional 7,033 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of The Hanover Insurance Group by 449.5% during the first quarter. Tower Research Capital LLC TRC now owns 9,797 shares of the insurance provider’s stock valued at $1,259,000 after purchasing an additional 8,014 shares during the last quarter. Finally, HRT Financial LP bought a new stake in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $564,000. 84.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on THG shares. Piper Sandler raised shares of The Hanover Insurance Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $155.00 to $153.00 in a research note on Thursday, July 6th. Keefe, Bruyette & Woods cut their target price on shares of The Hanover Insurance Group from $124.00 to $120.00 and set a “market perform” rating on the stock in a report on Tuesday, August 15th. JMP Securities dropped their price objective on shares of The Hanover Insurance Group from $170.00 to $160.00 in a report on Wednesday, July 12th. BMO Capital Markets upgraded shares of The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $125.00 to $126.00 in a report on Thursday, August 31st. Finally, StockNews.com initiated coverage on shares of The Hanover Insurance Group in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $143.29.

The Hanover Insurance Group Stock Performance

Shares of THG opened at $111.10 on Friday. The firm has a 50-day moving average of $109.54 and a 200-day moving average of $117.04. The Hanover Insurance Group, Inc. has a one year low of $103.82 and a one year high of $148.78. The company has a market cap of $3.97 billion, a PE ratio of -42.73, a price-to-earnings-growth ratio of 0.98 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.37 and a quick ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported ($1.91) EPS for the quarter, hitting the consensus estimate of ($1.91). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.42 billion. The Hanover Insurance Group had a negative net margin of 1.60% and a negative return on equity of 2.83%. The Hanover Insurance Group’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.32 EPS. As a group, equities analysts forecast that The Hanover Insurance Group, Inc. will post 3.05 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, September 14th. The Hanover Insurance Group’s payout ratio is -124.62%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,246 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $114.04, for a total value of $142,093.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

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 four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.