HM Payson & Co. Sells 198 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

HM Payson & Co. lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 16.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 996 shares of the insurance provider’s stock after selling 198 shares during the quarter. HM Payson & Co.’s holdings in The Hanover Insurance Group were worth $148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Boston Partners lifted its position in The Hanover Insurance Group by 111.8% during the first quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock valued at $1,739,000 after purchasing an additional 6,753 shares in the last quarter. Interval Partners LP bought a new position in shares of The Hanover Insurance Group in the first quarter worth about $2,349,000. BNP Paribas Financial Markets lifted its position in shares of The Hanover Insurance Group by 65.9% during the 1st quarter. BNP Paribas Financial Markets now owns 11,926 shares of the insurance provider’s stock valued at $1,624,000 after buying an additional 4,738 shares in the last quarter. Tidal Investments LLC bought a new position in shares of The Hanover Insurance Group during the 1st quarter valued at approximately $867,000. Finally, Foundations Investment Advisors LLC bought a new position in shares of The Hanover Insurance Group during the 2nd quarter valued at approximately $681,000. Institutional investors own 86.61% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 12,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the transaction, the executive vice president now directly owns 66,091 shares in the company, valued at approximately $10,249,392.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Jeffrey M. Farber sold 12,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the sale, the executive vice president now directly owns 66,091 shares in the company, valued at approximately $10,249,392.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey M. Farber sold 4,800 shares of The Hanover Insurance Group stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $150.41, for a total value of $721,968.00. Following the completion of the transaction, the executive vice president now owns 80,790 shares of the company’s stock, valued at approximately $12,151,623.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,303 shares of company stock valued at $4,372,203 in the last quarter. 2.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JMP Securities raised 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 research note on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America raised their price target 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 upped their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $168.20.

The Hanover Insurance Group Stock Performance

THG opened at $147.90 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 14.67 and a beta of 0.69. The company has a fifty day moving average of $147.37 and a 200 day moving average of $136.32. The Hanover Insurance Group, Inc. has a fifty-two week low of $112.22 and a fifty-two week high of $155.84.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 16.09% and a net margin of 5.92%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $0.19 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 10.92 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.30%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio is presently 33.73%.

The Hanover Insurance Group 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.