First Trust Advisors LP Sells 42,759 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

First Trust Advisors LP cut its holdings in The Hanover Insurance Group, Inc. (NYSE:THGFree Report) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 548,428 shares of the insurance provider’s stock after selling 42,759 shares during the quarter. First Trust Advisors LP owned approximately 1.53% of The Hanover Insurance Group worth $66,590,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of The Hanover Insurance Group by 11,733.1% during the fourth quarter. International Assets Investment Management LLC now owns 465,039 shares of the insurance provider’s stock worth $56,465,000 after purchasing an additional 461,109 shares during the last quarter. Norges Bank acquired a new position in The Hanover Insurance Group in the fourth quarter valued at approximately $48,900,000. Massachusetts Financial Services Co. MA lifted its position in shares of The Hanover Insurance Group by 27.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,214,520 shares of the insurance provider’s stock valued at $147,467,000 after acquiring an additional 264,483 shares during the period. Lazard Asset Management LLC bought a new position in The Hanover Insurance Group during the third quarter worth $10,944,000. Finally, Ameriprise Financial Inc. grew its holdings in The Hanover Insurance Group by 12.2% in the third quarter. Ameriprise Financial Inc. now owns 815,172 shares of the insurance provider’s stock worth $90,468,000 after purchasing an additional 88,456 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

THG has been the topic of several research reports. Oppenheimer upped their price objective on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of The Hanover Insurance Group in a research note on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on 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. Piper Sandler reiterated an “overweight” rating and issued a $147.00 target price on shares of The Hanover Insurance Group in a report on Monday, April 1st. Finally, TheStreet raised shares of The Hanover Insurance Group from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.00.

Read Our Latest Report on THG

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock opened at $129.47 on Friday. The Hanover Insurance Group, Inc. has a 52 week low of $103.82 and a 52 week high of $138.30. 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 business has a 50 day moving average price of $132.03 and a 200-day moving average price of $129.16. The company has a market cap of $4.65 billion, a PE ratio of 29.03 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THGGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.47. The Hanover Insurance Group had a return on equity of 7.00% and a net margin of 2.67%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Equities analysts anticipate that The Hanover Insurance Group, Inc. will post 10.67 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.85 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.63%. The Hanover Insurance Group’s dividend payout ratio is currently 76.23%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,119 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Hanover Insurance Group news, EVP Willard T. Lee sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $135.94, for a total value of $135,940.00. Following the completion of the sale, the executive vice president now directly owns 4,398 shares of the company’s stock, valued at $597,864.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jane D. Carlin sold 1,119 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

The Hanover Insurance Group Company 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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