Pallas Capital Advisors LLC Invests $231,000 in The Hanover Insurance Group, Inc. (NYSE:THG)

Pallas Capital Advisors LLC acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,329 shares of the insurance provider’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC grew its stake in The Hanover Insurance Group by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 7,163 shares of the insurance provider’s stock worth $1,092,000 after purchasing an additional 65 shares in the last quarter. AMG National Trust Bank grew its stake in The Hanover Insurance Group by 0.7% in 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 in the last quarter. Ironwood Investment Management LLC grew its stake in 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 worth $1,501,000 after purchasing an additional 85 shares in the last quarter. Venturi Wealth Management LLC grew its stake in 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 worth $42,000 after purchasing an additional 90 shares in the last quarter. Finally, Truist Financial Corp grew its stake in The Hanover Insurance Group by 4.7% in the fourth quarter. Truist Financial Corp now owns 2,025 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Bryan J. Salvatore sold 10,526 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the completion of the sale, the executive vice president now owns 25,864 shares of the company’s stock, valued at $4,308,942.40. This trade represents a 28.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John C. Roche sold 301 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now owns 124,414 shares of the company’s stock, valued at $21,772,450. This trade represents a 0.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,027 shares of company stock valued at $1,841,309 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

THG has been the topic of several research analyst reports. Morgan Stanley increased their price objective on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. JMP Securities increased their target price on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday, May 1st. Piper Sandler lifted their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Wall Street Zen upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods lifted their price target on The Hanover Insurance Group from $171.00 to $173.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.50.

The Hanover Insurance Group Stock Down 1.4%

The Hanover Insurance Group stock opened at $169.41 on Friday. 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 stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 14.49 and a beta of 0.45. The Hanover Insurance Group, Inc. has a 1-year low of $119.66 and a 1-year high of $178.68. The business has a fifty day moving average price of $166.48 and a 200-day moving average price of $162.65.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.29. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.08 EPS. Equities research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.90 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.13%. The Hanover Insurance Group’s payout ratio is 29.98%.

The Hanover Insurance Group 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.