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The Manufacturers Life Insurance Company reduced its stake in The Hanover Insurance Group, Inc. (NYSE: THG – Get a rating) by 3.1% in the 3rd quarter, according to its last filing with the SEC. The institutional investor held 28,891 shares of the insurer after selling 911 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of The Hanover Insurance Group worth $3,702,000 at the end of the most recent quarter.
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A number of other major investors have also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its stake in The Hanover Insurance Group by 55.0% in the third quarter. GPS Wealth Strategies Group LLC now owns 203 shares of the insurance provider worth $26,000 after buying 72 additional shares in the last quarter. Assetmark Inc. increased its stake in The Hanover Insurance Group by 139.2% in the second quarter. Assetmark Inc. now owns 244 shares of the insurance provider worth $36,000 after buying an additional 142 shares in the last quarter. Riverview Trust Co increased its stake in The Hanover Insurance Group by 48.2% in the third quarter. Riverview Trust Co now owns 338 shares of the insurance provider worth $43,000 after buying 110 more shares in the last quarter. Ronald Blue Trust Inc. bought a new position in The Hanover Insurance Group in the second quarter worth $47,000. Finally, Covestor Ltd increased its equity stake in The Hanover Insurance Group by 35.4% during the first quarter. Covestor Ltd now owns 520 shares of the insurance provider valued at $78,000 after buying a further 136 shares in the last quarter. Institutional investors hold 86.39% of the company’s shares.
Insider buying and selling
In related news, EVP Marc Joseph Welzenbach sold 2,673 shares of the company in a transaction dated Friday, November 4. The shares were sold at an average price of $142.21, for a total transaction of $380,127.33. Following the completion of the transaction, the executive vice president now owns 19,846 shares of the company, valued at approximately $2,822,299.66. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC website. Insiders hold 2.50% of the shares of the company.
Hanover Insurance Group down 1.3%
Shares of The Hanover Insurance Group stock opened at $132.81 on Thursday. The company has a 50-day simple moving average of $137.13 and a two-hundred-day simple moving average of $136.23. The company has a market capitalization of $4.72 billion, a P/E ratio of 16.46, a price-to-earnings growth ratio of 1.00 and a beta of 0.72. The Hanover Insurance Group, Inc. has a fifty-two week minimum of $123.36 and a fifty-two week maximum of $155.55. The company has a debt ratio of 0.34, a quick ratio of 0.39 and a current ratio of 0.39.
The Hannover Insurance Group (NYSE: THG – Get a rating) last released its quarterly earnings data on Tuesday, November 1. The insurance provider reported earnings per share of $0.99 for the quarter, beating analysts’ consensus estimate of $0.97 by $0.02. The company posted revenue of $1.41 billion in the quarter, versus a consensus estimate of $1.37 billion. The Hanover Insurance Group achieved a net margin of 5.42% and a return on equity of 13.26%. As a group, stock analysts predict The Hanover Insurance Group, Inc. will post earnings per share of 5.54 for the current fiscal year.
Hanover Insurance Group increases its dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30. Shareholders of record on Thursday, December 15 received a dividend of $0.81. The ex-dividend date was Wednesday, December 14. This represents a dividend of $3.24 on an annualized basis and a dividend yield of 2.44%. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.75. Hanover Insurance Group’s dividend payout rate is 40.15%.
Analysts set new price targets
THG has been the subject of a number of research analyst reports. Janney Montgomery Scott launched a hedge on shares of The Hanover Insurance Group in a report on Friday, November 11. They have set a “buy” rating and a price target of $164.00 on the stock. BMO Capital Markets launched a hedge on shares of The Hanover Insurance Group in a report on Thursday, January 19. They set a “market performance” rating and a price target of $141.00 on the stock. Morgan Stanley raised its price target on shares of The Hanover Insurance Group from $145.00 to $150.00 and gave the company an “equal weight” rating in a Tuesday, November 22 report. Piper Sandler raised her price target on shares of The Hanover Insurance Group from $144.00 to $151.00 in a Tuesday, January 10 report. At last, StockNews.com downgraded shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a Thursday, October 13, report. Four analysts rated the stock with a hold rating and one gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $151.50.
About Hannover Insurance Group
The Hanover Insurance Group, Inc. is a holding company that provides property and casualty insurance products and services. It operates through the following segments: business lines, personal lines and others. The Commercial Insurance segment includes commercial multi-peril, commercial automobile, workers’ compensation and other commercial coverage, such as specialty programs, inland marine, management and professional liability and surety.
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