ProShare Advisors LLC grew its position in The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) by 21.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 192,411 shares of the insurance provider’s stock after purchasing an additional 33,446 shares during the period. ProShare Advisors LLC owned about 0.54% of The Hanover Insurance Group worth $24,656,000 at the end of the most recent reporting period.
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Several other hedge funds also recently bought and sold shares of THG. Raymond James & Associates raised its holdings in The Hanover Insurance Group by 14.0% in the first quarter. Raymond James & Associates now owns 14,446 shares of the insurance provider’s stock worth $2,160,000 after purchasing an additional 1,772 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of The Hanover Insurance Group during the first quarter worth $209,000. HighTower Advisors LLC raised its holdings in shares of The Hanover Insurance Group by 3.8% during the first quarter. HighTower Advisors LLC now owns 3,679 shares of the insurance provider’s stock worth $550,000 after acquiring an additional 135 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of The Hanover Insurance Group by 5.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,221 shares of the insurance provider’s stock worth $780,000 after acquiring an additional 277 shares during the period. Finally, Natixis Advisors L.P. raised its holdings in shares of The Hanover Insurance Group by 2.7% during the first quarter. Natixis Advisors L.P. now owns 13,423 shares of the insurance provider’s stock worth $2,007,000 after acquiring an additional 355 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Mark Joseph Welzenbach sold 2,673 shares of The Hanover Insurance Group stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $142.21, for a total transaction of $380,127.33. Following the completion of the sale, the executive vice president now owns 19,846 shares of the company’s stock, valued at approximately $2,822,299.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by insiders.
The Hanover Insurance Group Stock Performance
Shares of THG opened at $134.83 on Friday. The firm has a 50-day moving average of $138.00 and a 200-day moving average of $136.51. The Hanover Insurance Group, Inc. has a one year low of $123.36 and a one year high of $155.55. The company has a market cap of $4.79 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.39 and a quick ratio of 0.39.
The Hanover Insurance Group (NYSE:THG – Get Rating) last announced its earnings results on Tuesday, November 1st. The insurance provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.37 billion. The Hanover Insurance Group had a net margin of 5.42% and a return on equity of 13.26%. As a group, equities analysts forecast that The Hanover Insurance Group, Inc. will post 5.54 earnings per share for the current year.
The Hanover Insurance Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were issued a dividend of $0.81 per share. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, December 14th. This represents a $3.24 annualized dividend and a dividend yield of 2.40%. The Hanover Insurance Group’s payout ratio is presently 40.15%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of The Hanover Insurance Group from $144.00 to $151.00 in a research report on Tuesday, January 10th. Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 22nd. BMO Capital Markets assumed coverage on shares of The Hanover Insurance Group in a research report on Thursday, January 19th. They issued a “market perform” rating and a $141.00 target price for the company. StockNews.com downgraded shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 13th. Finally, Janney Montgomery Scott initiated coverage on shares of The Hanover Insurance Group in a research report on Friday, November 11th. They issued a “buy” rating and a $164.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $151.50.
About The Hanover Insurance Group
The Hanover Insurance Group, Inc is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Commercial Lines, Personal Lines and Other. The Commercial Lines segment includes commercial multiple peril, commercial automobile, workers compensation and other commercial coverage, such as specialty program business, inland marine, management and professional liability and surety.
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