AMG National Trust Bank Buys 5,339 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

AMG National Trust Bank boosted its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 99.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,705 shares of the insurance provider’s stock after acquiring an additional 5,339 shares during the period. AMG National Trust Bank’s holdings in The Hanover Insurance Group were worth $1,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in THG. V Square Quantitative Management LLC bought a new stake in shares of The Hanover Insurance Group in the 3rd quarter valued at $26,000. Point72 Hong Kong Ltd bought a new stake in The Hanover Insurance Group during the second quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new stake in The Hanover Insurance Group during the second quarter valued at $42,000. Capital Performance Advisors LLP bought a new position in shares of The Hanover Insurance Group in the 3rd quarter worth about $60,000. Finally, UMB Bank n.a. lifted its stake in shares of The Hanover Insurance Group by 35.4% in the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Trading Up 0.6 %

Shares of THG stock opened at $164.39 on Tuesday. The firm has a market cap of $5.92 billion, a P/E ratio of 16.31 and a beta of 0.70. The company has a 50 day moving average of $150.50 and a 200-day moving average of $138.52. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The Hanover Insurance Group, Inc. has a 12-month low of $117.56 and a 12-month high of $165.27.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. Sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 11.29 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 33.73%.

Wall Street Analysts Forecast Growth

THG has been the subject of a number of research analyst reports. Bank of America lifted their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Oppenheimer boosted their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. JMP Securities lifted their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.40.

Insiders Place Their Bets

In related news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey M. Farber sold 6,114 shares of the stock in a transaction dated Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $8,782,214.76. The trade was a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,303 shares of company stock valued at $6,306,926 in the last ninety days. Company insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Company 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.