The Hanover Insurance Group, Inc. (NYSE:THG) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 7.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,495 shares of the insurance provider’s stock after selling 1,895 shares during the period. Amalgamated Bank’s holdings in The Hanover Insurance Group were worth $2,822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its holdings in shares of The Hanover Insurance Group by 4.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 97 shares during the last quarter. Signaturefd LLC raised its holdings in shares of The Hanover Insurance Group by 8.7% during the second quarter. Signaturefd LLC now owns 1,336 shares of the insurance provider’s stock worth $168,000 after purchasing an additional 107 shares during the period. Blue Trust Inc. raised its holdings in shares of The Hanover Insurance Group by 20.7% during the second quarter. Blue Trust Inc. now owns 753 shares of the insurance provider’s stock worth $103,000 after purchasing an additional 129 shares during the period. Pullen Investment Management LLC boosted its holdings in shares of The Hanover Insurance Group by 3.1% in the 2nd quarter. Pullen Investment Management LLC now owns 4,434 shares of the insurance provider’s stock valued at $556,000 after buying an additional 134 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of The Hanover Insurance Group by 9.5% during the 4th quarter. Parallel Advisors LLC now owns 1,727 shares of the insurance provider’s stock valued at $210,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insider Buying and Selling at The Hanover Insurance Group

In other news, Director Kathy S. Lane sold 1,884 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kathy S. Lane sold 1,884 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey M. Farber sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total transaction of $180,132.00. Following the sale, the executive vice president now owns 85,983 shares of the company’s stock, valued at $12,906,908.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,352 shares of company stock valued at $1,766,623. 2.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on THG. Keefe, Bruyette & Woods lifted their target price on The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Bank of America lowered their price objective on The Hanover Insurance Group from $161.00 to $158.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. JMP Securities raised their target price on The Hanover Insurance Group from $150.00 to $160.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Finally, Piper Sandler upped their price target on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $157.80.

The Hanover Insurance Group Trading Up 0.9 %

Shares of THG stock opened at $148.22 on Tuesday. The firm has a market capitalization of $5.33 billion, a PE ratio of 33.23 and a beta of 0.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.40. The Hanover Insurance Group, Inc. has a 1 year low of $108.03 and a 1 year high of $150.95. The stock has a fifty day moving average of $138.87 and a two-hundred day moving average of $132.77.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted ($1.91) EPS. The Hanover Insurance Group’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect that The Hanover Insurance Group, Inc. will post 10.85 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.85 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.29%. 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.