The Hanover Insurance Group, Inc. (NYSE:THG) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 14.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 51,734 shares of the insurance provider’s stock after selling 8,786 shares during the period. NFJ Investment Group LLC’s holdings in The Hanover Insurance Group were worth $7,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. bought a new position in shares of The Hanover Insurance Group in the first quarter worth $261,000. Tidal Investments LLC acquired a new stake in The Hanover Insurance Group in the first quarter worth about $867,000. Cetera Advisors LLC bought a new position in The Hanover Insurance Group in the 1st quarter valued at about $208,000. Park Avenue Securities LLC increased its stake in The Hanover Insurance Group by 4.2% during the 2nd quarter. Park Avenue Securities LLC now owns 4,871 shares of the insurance provider’s stock valued at $611,000 after buying an additional 198 shares during the period. Finally, CWM LLC raised its position in shares of The Hanover Insurance Group by 7.3% during the 2nd quarter. CWM LLC now owns 9,669 shares of the insurance provider’s stock worth $1,213,000 after buying an additional 658 shares in the last quarter. 86.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JMP Securities increased their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Piper Sandler increased their price target 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. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a research note on Thursday, November 21st. Bank of America upped their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Oppenheimer lifted their target price on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.83.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $163.32 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $5.88 billion, a PE ratio of 16.20 and a beta of 0.71. The stock has a fifty day moving average of $154.33 and a 200-day moving average of $140.92. The Hanover Insurance Group, Inc. has a one year low of $119.36 and a one year high of $166.13.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.65 by $0.40. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The Hanover Insurance Group’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.90 dividend. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, December 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 33.73%.

Insider Activity

In other news, EVP Jeffrey M. Farber sold 1,200 shares of The Hanover Insurance Group stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total transaction of $180,132.00. Following the transaction, the executive vice president now owns 85,983 shares in the company, valued at approximately $12,906,908.13. The trade was a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 30,551 shares of company stock worth $4,781,935 over the last 90 days. 2.50% of the stock is owned by company insiders.

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.