Pathstone Holdings LLC Raises Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Pathstone Holdings LLC raised its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,204 shares of the insurance provider’s stock after acquiring an additional 854 shares during the period. Pathstone Holdings LLC’s holdings in The Hanover Insurance Group were worth $3,881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of THG. International Assets Investment Management LLC lifted its stake in shares of The Hanover Insurance Group by 14,711.0% in the 3rd quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after acquiring an additional 548,720 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in The Hanover Insurance Group in the 2nd quarter worth approximately $14,684,000. Massachusetts Financial Services Co. MA lifted its position in The Hanover Insurance Group by 5.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,341,253 shares of the insurance provider’s stock valued at $168,247,000 after purchasing an additional 70,161 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of The Hanover Insurance Group by 116.7% during the second quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider’s stock valued at $14,150,000 after purchasing an additional 61,738 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at approximately $4,284,000. 86.61% of the stock is owned by institutional investors.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 6,114 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $162.36, for a total transaction of $992,669.04. Following the completion of the transaction, the executive vice president now directly owns 54,091 shares in the company, valued at approximately $8,782,214.76. This trade represents a 10.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard W. Lavey sold 8,468 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total transaction of $1,219,476.68. Following the transaction, the executive vice president now owns 36,281 shares of the company’s stock, valued at $5,224,826.81. The trade was a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,419 shares of company stock valued at $6,054,037 in the last three months. 2.40% of the stock is currently owned by company insiders.

The Hanover Insurance Group Stock Performance

Shares of THG opened at $163.60 on Friday. The Hanover Insurance Group, Inc. has a one year low of $119.36 and a one year high of $165.27. The company has a 50-day simple moving average of $152.25 and a two-hundred day simple moving average of $139.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $5.89 billion, a PE ratio of 16.23 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.40. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. On average, analysts anticipate that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 33.73%.

Analyst Ratings Changes

THG has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Piper Sandler upped their price objective on shares of 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. JMP Securities increased their target price 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. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target on the stock. in a report on Thursday. Finally, Keefe, Bruyette & Woods increased their price objective on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average price target of $173.83.

About The Hanover Insurance Group

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.