Raymond James Financial Inc. Purchases Shares of 55,685 The Hanover Insurance Group, Inc. (NYSE:THG)

Raymond James Financial Inc. acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 4th quarter, HoldingsChannel reports. The firm acquired 55,685 shares of the insurance provider’s stock, valued at approximately $8,612,000.

Other institutional investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its position in The Hanover Insurance Group by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 7,163 shares of the insurance provider’s stock worth $1,092,000 after acquiring an additional 65 shares during the last quarter. AMG National Trust Bank grew its holdings in shares of The Hanover Insurance Group by 0.7% during the fourth quarter. AMG National Trust Bank now owns 10,776 shares of the insurance provider’s stock worth $1,658,000 after purchasing an additional 71 shares during the last quarter. Ironwood Investment Management LLC increased its stake in shares of The Hanover Insurance Group by 0.9% in the fourth quarter. Ironwood Investment Management LLC now owns 9,703 shares of the insurance provider’s stock valued at $1,501,000 after buying an additional 85 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of The Hanover Insurance Group by 49.5% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock valued at $42,000 after buying an additional 90 shares during the last quarter. Finally, Truist Financial Corp lifted its position in The Hanover Insurance Group by 4.7% during the 4th quarter. Truist Financial Corp now owns 2,025 shares of the insurance provider’s stock worth $313,000 after buying an additional 90 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $163.14 on Wednesday. The stock has a market cap of $5.86 billion, a PE ratio of 13.96 and a beta of 0.47. The stock has a 50-day moving average of $164.69 and a 200-day moving average of $158.88. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The Hanover Insurance Group, Inc. has a one year low of $119.66 and a one year high of $176.16.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, beating the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. As a group, sell-side analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, March 14th. This represents a $3.60 annualized dividend and a yield of 2.21%. The Hanover Insurance Group’s dividend payout ratio is presently 30.80%.

Insider Buying and Selling at The Hanover Insurance Group

In other news, CEO John C. Roche sold 200 shares of The Hanover Insurance Group stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $175.01, for a total transaction of $35,002.00. Following the transaction, the chief executive officer now owns 124,278 shares in the company, valued at $21,749,892.78. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

THG has been the subject of a number of research analyst reports. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods reduced their price objective on The Hanover Insurance Group from $179.00 to $171.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. StockNews.com cut The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler upped their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley lifted their price objective on The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, The Hanover Insurance Group currently has a consensus rating of “Hold” and a consensus target price of $178.00.

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.