Foster & Motley Inc. reduced its stake in The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) by 40.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor held 4,425 shares of the insurance provider after selling 2,952 shares during the quarter. Foster & Motley Inc.’s interests in The Hanover Insurance Group were worth $567,000 at the end of the most recent reporting period.
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Other institutional investors have also recently bought and sold shares in the company. Great West Life Assurance Co. Can increased its stake in The Hanover Insurance Group by 8.4% in the third quarter. Great West Life Assurance Co. Can now owns 25,371 shares of the insurance provider valued at $3,252,000 after purchasing an additional 1,968 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new share of The Hanover Insurance Group stock in the second quarter for $222,000. Aptus Capital Advisors LLC improved its position in shares of The Hanover Insurance Group by 9.0% in the third quarter. Aptus Capital Advisors LLC now owns 28,883 shares of the insurance provider worth $3,701,000 after purchasing an additional 2,373 shares in the last quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income purchased a new share of The Hanover Insurance Group stock in the second quarter for $11,701,000. Finally, Treasurer of the State of North Carolina raised its position in shares of The Hanover Insurance Group by 13.8% in the second quarter. The North Carolina state treasurer now owns 14,973 shares of the insurance provider worth $2,190,000 after buying an additional 1,821 shares last quarter. Institutional investors own 86.39% of the company’s shares.
Hanover Insurance Group Price Performance
NYSE:THG opened at $131.82 on Wednesday. Hanover Insurance Group, Inc. has a one-year minimum of $123.36 and a one-year maximum of $155.55. The company has a market capitalization of $4.69 billion, a P/E ratio of 16.33, a P/E/E ratio of 0.98, and a beta of 0.72. The company’s fifty-day moving average price is $138.32 and its two-hundred-day moving average price is $136.60. The firm has a debt to equity ratio of 0.34, a current ratio of 0.39, and a quick ratio of 0.39.
Hanover Insurance Group (NYSE:THG – Get Rating) last released its quarterly earnings data on Tuesday, November 1. The insurance provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. Hanover Insurance Group posted a net margin of 5.42% and a return on equity of 13.26%. The company had revenue of $1.41 billion in the quarter, compared with the consensus estimate of $1.37 billion. Stock analysts expect The Hanover Insurance Group, Inc. to post earnings per share of 8.63 for the current year.
The Hanover Insurance Group increases dividends
The firm also recently declared a quarterly dividend, which was paid on Friday, December 30. Investors registered on Thursday, December 15 received a dividend of $0.81. The ex-dividend date of this dividend was Wednesday, December 14. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.75. This represents an annualized dividend of $3.24 and a dividend yield of 2.46%. Hanover Insurance Group’s dividend payout ratio is 40.15%.
Internal activity at The Hanover Insurance Group
In related news, Executive Vice President Mark Joseph Welzenbach sold 2,673 shares of the company in a transaction on Friday, November 4. The shares sold at an average price of $142.21, for a total value of $380,127.33. Following the transaction, the executive vice president now directly owns 19,846 shares of the company, valued at $2,822,299.66. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available at this hyperlink. Currently, 2.50% of the shares are owned by insiders of the company.
Wall Street analyst weighs in
Several brokerages have recently commented on THG. BMO Capital Markets began coverage of The Hanover Insurance Group shares in a research report on Thursday, January 19. They issued a “market performance” rating and a $141.00 price target on the stock. Piper Sandler increased the price target on The Hanover Insurance Group shares from $144.00 to $151.00 in a research report on Tuesday, January 10. Morgan Stanley raised the price target on The Hanover Insurance Group shares to $150.00 from $145.00 and gave the shares an “equal weight” rating in a research report on Tuesday, November 22. StockNews.com downgraded shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 13. Finally, Janney Montgomery Scott began coverage of The Hanover Insurance Group stock in a research report on Friday, November 11. They set a “buy” rating and a $164.00 price target on the stock. Four research analysts gave the stock a Hold rating and one assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of ‘Hold’ and a consensus price target of $151.50.
Company Profile Hanover Insurance Group
Hanover Insurance Group, Inc is a holding company engaged in the provision of property and casualty products and services. It operates through the following segments: Commercial Lines, Personal Lines and Others. The Commercial Lines segment includes multiple commercial perils, commercial auto, workers’ compensation, and other commercial coverages such as specialty program business, inland shipping, professional liability and management, and warranty.
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