AGF Management Ltd. Lowers Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

AGF Management Ltd. cut its stake in The Hanover Insurance Group, Inc. (NYSE:THGFree Report) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,378 shares of the insurance provider’s stock after selling 6,137 shares during the period. AGF Management Ltd. owned about 0.06% of The Hanover Insurance Group worth $2,717,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in The Hanover Insurance Group by 55.6% in the fourth quarter. UMB Bank n.a. now owns 235 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 84 shares during the period. Baystate Wealth Management LLC lifted its position in shares of The Hanover Insurance Group by 4,400.0% in the 4th quarter. Baystate Wealth Management LLC now owns 360 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 352 shares during the period. Principal Securities Inc. purchased a new position in The Hanover Insurance Group during the fourth quarter valued at approximately $91,000. Assetmark Inc. raised its stake in The Hanover Insurance Group by 13.8% in the third quarter. Assetmark Inc. now owns 933 shares of the insurance provider’s stock worth $104,000 after buying an additional 113 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in The Hanover Insurance Group by 37.9% during the third quarter. Signaturefd LLC now owns 1,062 shares of the insurance provider’s stock worth $118,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TheStreet upgraded The Hanover Insurance Group from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Piper Sandler reissued an “overweight” rating and set a $147.00 price target on shares of The Hanover Insurance Group in a research report on Monday, April 1st. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. JMP Securities reiterated a “market outperform” rating and set a $150.00 price objective on shares of The Hanover Insurance Group in a research note on Monday, April 15th. Finally, Oppenheimer raised their target price on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Read Our Latest Stock Report on The Hanover Insurance Group

The Hanover Insurance Group Stock Down 0.2 %

THG stock opened at $135.22 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group, Inc. has a 52 week low of $103.82 and a 52 week high of $138.00. The stock has a market capitalization of $4.86 billion, a PE ratio of 30.32 and a beta of 0.67. The firm has a 50 day moving average of $131.25 and a 200 day moving average of $127.43.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Thursday, March 14th. The Hanover Insurance Group’s payout ratio is 76.23%.

Insider Buying and Selling

In related news, EVP Willard T. Lee sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $135.94, for a total transaction of $135,940.00. Following the completion of the sale, the executive vice president now owns 4,398 shares of the company’s stock, valued at $597,864.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is currently owned by company insiders.

The Hanover Insurance Group Profile

(Free Report)

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.

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

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