Pacer Advisors Inc. Purchases Shares of 6,300 The Hanover Insurance Group, Inc. (NYSE:THG)

Pacer Advisors Inc. purchased a new stake in The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,300 shares of the insurance provider’s stock, valued at approximately $712,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. raised its stake in The Hanover Insurance Group by 21.0% in the fourth quarter. Assetmark Inc. now owns 415 shares of the insurance provider’s stock valued at $56,000 after buying an additional 72 shares during the last quarter. BOKF NA raised its stake in The Hanover Insurance Group by 0.9% in the fourth quarter. BOKF NA now owns 8,928 shares of the insurance provider’s stock valued at $1,206,000 after buying an additional 84 shares during the last quarter. M&T Bank Corp raised its stake in shares of The Hanover Insurance Group by 3.8% in the third quarter. M&T Bank Corp now owns 2,590 shares of the insurance provider’s stock worth $333,000 after purchasing an additional 96 shares during the last quarter. FourThought Financial Partners LLC raised its stake in shares of The Hanover Insurance Group by 6.4% in the first quarter. FourThought Financial Partners LLC now owns 1,601 shares of the insurance provider’s stock worth $206,000 after purchasing an additional 97 shares during the last quarter. Finally, Aspire Private Capital LLC purchased a new position in shares of The Hanover Insurance Group in the first quarter worth about $12,850,000,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,246 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $114.04, for a total value of $142,093.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on THG. Piper Sandler upgraded The Hanover Insurance Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $155.00 to $153.00 in a research note on Thursday, July 6th. JMP Securities reduced their price objective on The Hanover Insurance Group from $170.00 to $160.00 in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reduced their price objective on The Hanover Insurance Group from $124.00 to $120.00 and set a “market perform” rating for the company in a research note on Tuesday, August 15th. BMO Capital Markets upgraded The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $125.00 to $126.00 in a research note on Thursday, August 31st. Finally, StockNews.com assumed coverage on The Hanover Insurance Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Four investment 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 stock has an average rating of “Moderate Buy” and a consensus target price of $143.29.

Read Our Latest Research Report on The Hanover Insurance Group

The Hanover Insurance Group Stock Down 0.0 %

The Hanover Insurance Group stock opened at $111.00 on Friday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -42.69, a price-to-earnings-growth ratio of 0.99 and a beta of 0.69. The Hanover Insurance Group, Inc. has a 52 week low of $103.82 and a 52 week high of $148.78. The business’s 50-day moving average price is $109.71 and its 200 day moving average price is $115.45. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.35.

The Hanover Insurance Group (NYSE:THG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported ($1.91) EPS for the quarter, meeting the consensus estimate of ($1.91). The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.42 billion. The Hanover Insurance Group had a negative return on equity of 2.83% and a negative net margin of 1.60%. The Hanover Insurance Group’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $2.32 earnings per share. As a group, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 3.05 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 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Thursday, September 14th. The Hanover Insurance Group’s dividend payout ratio is presently -124.62%.

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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