Exchange Traded Concepts LLC Sells 144 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Posted by Defense World Staff on Oct 7th, 2023

Exchange Traded Concepts LLC lessened its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,387 shares of the insurance provider’s stock after selling 144 shares during the period. Exchange Traded Concepts LLC’s holdings in The Hanover Insurance Group were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in THG. Aspire Private Capital LLC bought a new position in The Hanover Insurance Group during the first quarter valued at approximately $12,850,000,000. Advisors Asset Management Inc. boosted its position in shares of The Hanover Insurance Group by 129.8% during the 4th quarter. Advisors Asset Management Inc. now owns 216 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 122 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of The Hanover Insurance Group in the first quarter valued at $27,000. GPS Wealth Strategies Group LLC purchased a new stake in The Hanover Insurance Group during the first quarter valued at $40,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in The Hanover Insurance Group during the first quarter valued at $58,000. Hedge funds and other institutional investors own 84.89% of the company’s stock.

The Hanover Insurance Group Price Performance

Shares of THG stock opened at $111.04 on Friday. The stock has a 50 day moving average price of $109.45 and a 200 day moving average price of $114.92. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $148.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $3.97 billion, a P/E ratio of -42.71, a P/E/G ratio of 1.01 and a beta of 0.66.

The Hanover Insurance Group (NYSE:THG – Get Free Report) last released its earnings results on Wednesday, August 2nd. The insurance provider reported ($1.91) earnings per share for the quarter, hitting the consensus estimate of ($1.91). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate 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 business’s revenue for the quarter 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 predict that The Hanover Insurance Group, Inc. will post 3.01 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.81 dividend. The ex-dividend date was Thursday, September 14th. This represents a $3.24 dividend on an annualized basis and a yield of 2.92%. The Hanover Insurance Group’s dividend payout ratio is currently -124.62%.

Wall Street Analyst Weigh In

THG has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of The Hanover Insurance Group from $149.00 to $138.00 and set an “overweight” rating on the stock in a report on Friday. BMO Capital Markets raised The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $125.00 to $126.00 in a research note on Thursday, August 31st. Keefe, Bruyette & Woods lowered 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. StockNews.com began coverage on The Hanover Insurance Group in a research report on Thursday. They set a “hold” rating on the stock. Finally, JMP Securities lowered their price target on The Hanover Insurance Group from $170.00 to $160.00 in a research report on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $141.14.

View Our Latest Report on THG

Insider Transactions at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,246 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

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.