The Hanover Insurance Group, Inc. (NYSE:THG) Shares Sold by Strs Ohio

Posted by on Jul 19th, 2023

Strs Ohio reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 71.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,235 shares of the insurance provider’s stock after selling 38,021 shares during the quarter. Strs Ohio’s holdings in The Hanover Insurance Group were worth $1,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Investment Management of Virginia LLC raised its stake in The Hanover Insurance Group by 34.2% during the 1st quarter. Investment Management of Virginia LLC now owns 15,984 shares of the insurance provider’s stock worth $2,054,000 after acquiring an additional 4,074 shares in the last quarter. Peregrine Capital Management LLC raised its stake in The Hanover Insurance Group by 10.0% during the 1st quarter. Peregrine Capital Management LLC now owns 77,711 shares of the insurance provider’s stock worth $9,986,000 after acquiring an additional 7,033 shares in the last quarter. Everhart Financial Group Inc. acquired a new stake in The Hanover Insurance Group during the 1st quarter worth $202,000. Linden Thomas Advisory Services LLC raised its stake in The Hanover Insurance Group by 39.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 3,529 shares of the insurance provider’s stock worth $454,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in The Hanover Insurance Group during the 1st quarter worth $850,000. 85.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on THG shares. Keefe, Bruyette & Woods lowered their price objective on shares of The Hanover Insurance Group from $148.00 to $141.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 18th. JMP Securities lowered their price objective on shares of The Hanover Insurance Group from $170.00 to $160.00 in a research report on Wednesday, July 12th. TheStreet downgraded shares of The Hanover Insurance Group from a “b-” rating to a “c+” rating in a research report on Tuesday, May 9th. Bank of America downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $142.00 to $130.00 in a research report on Thursday, May 18th. Finally, StockNews.com started coverage on shares of The Hanover Insurance Group in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of “Hold” and a consensus price target of $148.43.

The Hanover Insurance Group Stock Up 0.5 %

Shares of NYSE:THG opened at $111.28 on Wednesday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -3,708.10, a PEG ratio of 0.48 and a beta of 0.68. The firm’s 50-day simple moving average is $114.09 and its 200-day simple moving average is $125.32. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.33. The Hanover Insurance Group, Inc. has a fifty-two week low of $108.71 and a fifty-two week high of $148.78.

The Hanover Insurance Group (NYSE:THG – Get Free Report) last issued its earnings results on Tuesday, May 2nd. The insurance provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.47 billion. The Hanover Insurance Group had a negative net margin of 0.01% and a positive return on equity of 3.62%. During the same quarter in the previous year, the firm earned $3.26 earnings per share. As a group, equities research analysts predict that The Hanover Insurance Group, Inc. will post 6.25 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, June 15th. The Hanover Insurance Group’s dividend payout ratio is currently -10,796.40%.

About The Hanover Insurance Group

(Free Report)

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.

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Institutional Ownership by Quarter for The Hanover Insurance Group (NYSE:THG)

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