New York State Common Retirement Fund Has $5.95 Million Stock Position in The Hanover Insurance Group, Inc. (NYSE:THG)

New York State Common Retirement Fund lessened its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 62.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,970 shares of the insurance provider’s stock after selling 81,724 shares during the period. New York State Common Retirement Fund owned about 0.14% of The Hanover Insurance Group worth $5,946,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of THG. UMB Bank n.a. lifted its position in shares of The Hanover Insurance Group by 55.6% in the 4th quarter. UMB Bank n.a. now owns 235 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 84 shares in the last quarter. Baystate Wealth Management LLC raised its position in The Hanover Insurance Group by 4,400.0% during the fourth quarter. Baystate Wealth Management LLC now owns 360 shares of the insurance provider’s stock valued at $44,000 after buying an additional 352 shares during the period. Assetmark Inc. lifted its stake in The Hanover Insurance Group by 13.8% in the 3rd quarter. Assetmark Inc. now owns 933 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 113 shares in the last quarter. Signaturefd LLC lifted its stake in The Hanover Insurance Group by 37.9% in the 3rd quarter. Signaturefd LLC now owns 1,062 shares of the insurance provider’s stock worth $118,000 after acquiring an additional 292 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in The Hanover Insurance Group during the 4th quarter worth about $197,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

THG has been the subject of a number of research analyst reports. TheStreet raised shares of The Hanover Insurance Group from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Keefe, Bruyette & Woods boosted their price target on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. StockNews.com raised shares of The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Piper Sandler reissued an “overweight” rating and set a $147.00 price objective on shares of The Hanover Insurance Group in a research report on Monday, April 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of The Hanover Insurance Group in a research report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

The Hanover Insurance Group Price Performance

NYSE THG opened at $133.70 on Friday. The firm has a market cap of $4.80 billion, a P/E ratio of 29.98 and a beta of 0.67. The stock’s 50-day moving average is $130.71 and its two-hundred day moving average is $126.42. The Hanover Insurance Group, Inc. has a fifty-two week low of $103.82 and a fifty-two week high of $138.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.39 and a quick ratio of 0.39.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.62. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.56 billion. The Hanover Insurance Group had a return on equity of 7.19% and a net margin of 2.67%. On average, analysts anticipate that The Hanover Insurance Group, Inc. will post 10.03 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Thursday, March 14th. The Hanover Insurance Group’s payout ratio is 76.23%.

About The 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 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.