The Hanover Insurance Group, Inc. (NYSE:THG) Shares Acquired by New Mexico Educational Retirement Board

Posted by on Oct 3rd, 2023

New Mexico Educational Retirement Board lifted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 14.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,300 shares of the insurance provider’s stock after buying an additional 900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in The Hanover Insurance Group were worth $825,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of The Hanover Insurance Group by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,690,436 shares of the insurance provider’s stock worth $472,893,000 after buying an additional 10,204 shares during the last quarter. BlackRock Inc. raised its stake in shares of The Hanover Insurance Group by 1.6% during the 1st quarter. BlackRock Inc. now owns 3,235,297 shares of the insurance provider’s stock worth $483,743,000 after buying an additional 50,073 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of The Hanover Insurance Group by 2.2% during the 1st quarter. Franklin Resources Inc. now owns 1,327,888 shares of the insurance provider’s stock worth $170,634,000 after buying an additional 28,398 shares during the last quarter. State Street Corp raised its stake in shares of The Hanover Insurance Group by 0.8% during the 1st quarter. State Street Corp now owns 1,136,855 shares of the insurance provider’s stock worth $146,086,000 after buying an additional 9,252 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of The Hanover Insurance Group by 13.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,074,171 shares of the insurance provider’s stock worth $138,031,000 after buying an additional 128,273 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

The Hanover Insurance Group Stock Down 0.9 %

THG opened at $110.00 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -42.31, a price-to-earnings-growth ratio of 0.99 and a beta of 0.66. The business has a 50-day moving average of $109.64 and a two-hundred day moving average of $115.16. The Hanover Insurance Group, Inc. has a 12 month low of $103.82 and a 12 month high of $148.78.

The Hanover Insurance Group (NYSE:THG – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported ($1.91) EPS for the quarter, meeting the consensus estimate of ($1.91). The Hanover Insurance Group had a negative return on equity of 2.83% and a negative net margin of 1.60%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business earned $2.32 EPS. The firm’s revenue was up 16.3% on a year-over-year basis. On average, research analysts expect that The Hanover Insurance Group, Inc. will post 3.05 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Thursday, September 14th. The Hanover Insurance Group’s payout ratio is currently -124.62%.

Insider Transactions at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,246 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $114.04, for a total transaction of $142,093.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on THG shares. BMO Capital Markets raised shares of The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $125.00 to $126.00 in a research note on Thursday, August 31st. Keefe, Bruyette & Woods cut their target price on shares of 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. StockNews.com started coverage on shares of The Hanover Insurance Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. JMP Securities cut their target price on shares of The Hanover Insurance Group from $170.00 to $160.00 in a research note on Wednesday, July 12th. Finally, Piper Sandler raised shares of The Hanover Insurance Group from a “neutral” rating to an “overweight” rating and cut their target price for the company from $155.00 to $153.00 in a research note on Thursday, July 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $143.29.

Read Our Latest Research Report on The Hanover Insurance Group

The Hanover Insurance Group Company Profile

(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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