AMG National Trust Bank Grows Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

AMG National Trust Bank boosted its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 99.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,705 shares of the insurance provider’s stock after buying an additional 5,339 shares during the period. AMG National Trust Bank’s holdings in The Hanover Insurance Group were worth $1,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of The Hanover Insurance Group in the third quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new position in The Hanover Insurance Group during the second quarter worth $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of The Hanover Insurance Group during the 2nd quarter worth about $42,000. Capital Performance Advisors LLP bought a new position in The Hanover Insurance Group during the 3rd quarter valued at about $60,000. Finally, UMB Bank n.a. raised its position in The Hanover Insurance Group by 35.4% in the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 109 shares during the period. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Trading Up 0.6 %

Shares of NYSE THG opened at $164.39 on Tuesday. The Hanover Insurance Group, Inc. has a twelve month low of $117.56 and a twelve month high of $165.27. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $150.50 and a two-hundred day simple moving average of $138.52. The firm has a market cap of $5.92 billion, a PE ratio of 16.31 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts expect that The Hanover Insurance Group, Inc. will post 11.29 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The Hanover Insurance Group’s dividend payout ratio is presently 33.73%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Warren E. Barnes sold 500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $138.25, for a total transaction of $69,125.00. Following the sale, the senior vice president now directly owns 3,013 shares of the company’s stock, valued at approximately $416,547.25. The trade was a 14.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,303 shares of company stock valued at $6,306,926 over the last ninety days. 2.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

THG has been the topic of a number of analyst reports. Piper Sandler upped their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Bank of America increased their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Oppenheimer boosted their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JMP Securities upped their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.40.

The Hanover Insurance Group Company 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.