Pinnacle Associates Ltd. Purchases 299 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Pinnacle Associates Ltd. increased its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,158 shares of the insurance provider’s stock after buying an additional 299 shares during the period. Pinnacle Associates Ltd.’s holdings in The Hanover Insurance Group were worth $1,949,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of The Hanover Insurance Group by 14,711.0% during the 3rd quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock worth $81,823,000 after purchasing an additional 548,720 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of The Hanover Insurance Group in the 2nd quarter valued at about $14,684,000. Massachusetts Financial Services Co. MA boosted its stake in shares of The Hanover Insurance Group by 5.5% in the 2nd 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% in the 2nd 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 last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of The Hanover Insurance Group in the 2nd quarter valued at about $4,284,000. 86.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several 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 report on Thursday. Bank of America boosted their target price on shares of 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 lifted their price objective on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler boosted their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted 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 report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.20.

Insider Transactions at The Hanover Insurance Group

In other news, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total transaction of $252,889.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey M. Farber sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 66,091 shares of the company’s stock, valued at approximately $10,249,392.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,303 shares of company stock valued at $4,372,203. 2.40% of the stock is currently owned by company insiders.

The Hanover Insurance Group Trading Down 0.3 %

NYSE THG opened at $147.90 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group, Inc. has a twelve month low of $112.22 and a twelve month high of $155.84. The firm has a market capitalization of $5.32 billion, a PE ratio of 14.67 and a beta of 0.69. The stock’s 50 day moving average is $147.37 and its 200 day moving average is $136.32.

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

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 33.73%.

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.