Park Avenue Securities LLC Purchases 348 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Park Avenue Securities LLC grew its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 8.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,673 shares of the insurance provider’s stock after purchasing an additional 348 shares during the quarter. Park Avenue Securities LLC’s holdings in The Hanover Insurance Group were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in The Hanover Insurance Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,623,766 shares of the insurance provider’s stock worth $439,998,000 after acquiring an additional 13,030 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in The Hanover Insurance Group by 27.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,214,520 shares of the insurance provider’s stock worth $147,467,000 after purchasing an additional 264,483 shares during the period. Victory Capital Management Inc. lifted its position in The Hanover Insurance Group by 7.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,033,560 shares of the insurance provider’s stock valued at $125,495,000 after purchasing an additional 75,737 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in The Hanover Insurance Group by 75.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 965,374 shares of the insurance provider’s stock valued at $117,217,000 after purchasing an additional 414,993 shares during the period. Finally, Ameriprise Financial Inc. increased its position in The Hanover Insurance Group by 12.2% in the third quarter. Ameriprise Financial Inc. now owns 815,172 shares of the insurance provider’s stock worth $90,468,000 after buying an additional 88,456 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

THG has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and issued a $147.00 target price on shares of The Hanover Insurance Group in a report on Monday, April 1st. Keefe, Bruyette & Woods raised their price objective on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 target price on shares of The Hanover Insurance Group in a report on Monday, April 15th. Finally, Oppenheimer raised their price target on The Hanover Insurance Group from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $146.00.

Insider Activity

In related news, EVP Willard T. Lee sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total value of $135,940.00. Following the sale, the executive vice president now owns 4,398 shares in the company, valued at $597,864.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Hanover Insurance Group news, EVP Willard T. Lee sold 1,000 shares of The Hanover Insurance Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total value of $135,940.00. Following the completion of the transaction, the executive vice president now directly owns 4,398 shares of the company’s stock, valued at approximately $597,864.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jane D. Carlin sold 1,119 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $132.25, for a total transaction of $147,987.75. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of NYSE THG opened at $123.55 on Friday. The firm’s fifty day moving average is $129.95 and its two-hundred day moving average is $129.16. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $138.30. The company has a market cap of $4.44 billion, a P/E ratio of 27.70 and a beta of 0.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.39 and a current ratio of 0.39.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.47. The Hanover Insurance Group had a return on equity of 7.00% and a net margin of 2.67%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. As a group, analysts anticipate that The Hanover Insurance Group, Inc. will post 10.39 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.75%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 76.23%.

The Hanover Insurance Group Profile

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.