Texas Permanent School Fund cut its stake in The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,908 shares of the insurance provider’s stock after selling 1,723 shares during the period. Texas Permanent School Fund owned 0.07% of The Hanover Insurance Group worth $3,231,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Board of Administration of Florida Retirement System lifted its holdings in The Hanover Insurance Group by 2.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 38,257 shares of the insurance provider’s stock worth $5,170,000 after buying an additional 820 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of The Hanover Insurance Group by 2.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,019 shares of the insurance provider’s stock valued at $1,353,000 after purchasing an additional 246 shares in the last quarter. LPL Financial LLC increased its stake in shares of The Hanover Insurance Group by 5.3% during the fourth quarter. LPL Financial LLC now owns 4,310 shares of the insurance provider’s stock valued at $582,000 after purchasing an additional 218 shares in the last quarter. FourThought Financial Partners LLC bought a new position in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $203,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of The Hanover Insurance Group by 6.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 53,768 shares of the insurance provider’s stock valued at $7,266,000 after purchasing an additional 3,187 shares in the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
The Hanover Insurance Group Trading Up 1.2 %
NYSE:THG opened at $119.04 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.33. The Hanover Insurance Group, Inc. has a 12 month low of $115.26 and a 12 month high of $149.91. The company has a market cap of $4.25 billion, a PE ratio of -3,968.00, a price-to-earnings-growth ratio of 0.44 and a beta of 0.69. The company has a 50 day simple moving average of $126.98 and a two-hundred day simple moving average of $134.82.
The Hanover Insurance Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Tuesday, March 14th. The Hanover Insurance Group’s dividend payout ratio (DPR) is -10,800.00%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on THG. StockNews.com began coverage on shares of The Hanover Insurance Group in a research note on Thursday, March 16th. They set a “hold” rating for the company. BMO Capital Markets initiated coverage on shares of The Hanover Insurance Group in a research report on Thursday, January 19th. They set a “market perform” rating and a $141.00 price target for the company. Piper Sandler raised their price target on shares of The Hanover Insurance Group from $153.00 to $159.00 and gave the company a “neutral” rating in a research report on Tuesday, April 4th. JMP Securities reissued a “market outperform” rating and set a $170.00 price target on shares of The Hanover Insurance Group in a research report on Friday, February 3rd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of The Hanover Insurance Group from $148.00 to $141.00 and set a “market perform” rating for the company in a research report on Tuesday, April 18th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Hold” and an average price target of $154.17.
Insider Activity at The Hanover Insurance Group
In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 862 shares of The Hanover Insurance Group stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $138.51, for a total value of $119,395.62. Following the sale, the senior vice president now directly owns 4,075 shares in the company, valued at approximately $564,428.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.
The Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Core Commercial, Specialty, Personal Lines and Other. The Core Commercial segment includes commercial multiple peril, commercial automobile, workers compensation and other core commercial coverage, such as general liability, commercial umbrella and monoline property.
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