The Hanover Insurance Group, Inc. $THG Stock: Pullen Investment Management LLC Reduces Position

Pullen Investment Management LLC reduced its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 54.4% in the third quarter, Holdings Channel.com reports. The fund owned 6,641 shares of the insurance provider’s stock after selling 7,930 shares during the period. Pullen Investment Management LLC’s holdings in The Hanover Insurance Group were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Basecamp Wealth Advisors LLC grew its position in shares of The Hanover Insurance Group by 19.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 55 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in The Hanover Insurance Group by 0.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 6,841 shares of the insurance provider’s stock worth $1,522,000 after purchasing an additional 56 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in The Hanover Insurance Group by 5.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock worth $195,000 after purchasing an additional 59 shares in the last quarter. Versant Capital Management Inc boosted its stake in The Hanover Insurance Group by 7.1% in the 3rd quarter. Versant Capital Management Inc now owns 922 shares of the insurance provider’s stock worth $197,000 after purchasing an additional 61 shares during the period. Finally, World Investment Advisors boosted its stake in The Hanover Insurance Group by 3.1% in the 1st quarter. World Investment Advisors now owns 2,359 shares of the insurance provider’s stock worth $409,000 after purchasing an additional 71 shares during the period. 86.61% of the stock is owned by institutional investors.

Insider Transactions at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the sale, the director owned 2,270 shares in the company, valued at approximately $525,505. This trade represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dennis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total value of $1,446,395.29. Following the sale, the executive vice president owned 12,003 shares of the company’s stock, valued at approximately $2,650,142.37. This trade represents a 35.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,655 shares of company stock worth $2,145,846 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Trading Up 0.1%

The Hanover Insurance Group stock opened at $237.99 on Monday. The stock has a market cap of $8.29 billion, a P/E ratio of 11.36 and a beta of 0.23. The Hanover Insurance Group, Inc. has a fifty-two week low of $166.54 and a fifty-two week high of $239.91. The firm’s fifty day moving average price is $225.03 and its 200-day moving average price is $209.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $4.35 earnings per share. Equities research analysts forecast that The Hanover Insurance Group, Inc. will post 20.25 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, September 11th. The Hanover Insurance Group’s dividend payout ratio is currently 18.14%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on THG shares. Oppenheimer reaffirmed an “outperform” rating and set a $260.00 target price on shares of The Hanover Insurance Group in a report on Tuesday, October 13th. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada increased their price target on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Piper Sandler lowered shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the company a “market perform” rating in a research note on Friday, September 18th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.43.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.