Envestnet Asset Management Inc. Grows Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Envestnet Asset Management Inc. increased its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 91,121 shares of the insurance provider’s stock after buying an additional 6,157 shares during the period. Envestnet Asset Management Inc.’s holdings in The Hanover Insurance Group were worth $11,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of THG. Assetmark Inc. increased its position in shares of The Hanover Insurance Group by 36.1% in the 4th quarter. Assetmark Inc. now owns 1,270 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 337 shares during the last quarter. Parallel Advisors LLC increased its position in shares of The Hanover Insurance Group by 9.5% in the 4th quarter. Parallel Advisors LLC now owns 1,727 shares of the insurance provider’s stock worth $210,000 after purchasing an additional 150 shares during the last quarter. TD Asset Management Inc increased its position in shares of The Hanover Insurance Group by 1.7% in the 4th quarter. TD Asset Management Inc now owns 24,326 shares of the insurance provider’s stock worth $2,954,000 after purchasing an additional 400 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of The Hanover Insurance Group by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 15,743 shares of the insurance provider’s stock worth $1,912,000 after purchasing an additional 160 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in shares of The Hanover Insurance Group by 462.9% in the 4th quarter. Bank of Nova Scotia now owns 23,495 shares of the insurance provider’s stock worth $2,853,000 after purchasing an additional 19,321 shares during the last quarter. Institutional investors own 86.61% of the company’s stock.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 1,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $150.11, for a total transaction of $180,132.00. Following the completion of the transaction, the executive vice president now directly owns 85,983 shares of the company’s stock, valued at approximately $12,906,908.13. The transaction 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 Jeffrey M. Farber sold 300 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the completion of the transaction, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at approximately $13,459,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey M. Farber sold 1,200 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $150.11, for a total transaction of $180,132.00. Following the transaction, the executive vice president now directly owns 85,983 shares of the company’s stock, valued at $12,906,908.13. The disclosure for this sale can be found here. Insiders sold 12,352 shares of company stock valued at $1,766,623 in the last ninety days. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

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

The Hanover Insurance Group Trading Down 0.2 %

NYSE THG opened at $147.06 on Friday. The Hanover Insurance Group, Inc. has a one year low of $108.03 and a one year high of $150.95. The company has a 50-day simple moving average of $139.75 and a 200-day simple moving average of $133.10. 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 firm has a market capitalization of $5.29 billion, a PE ratio of 32.97 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, meeting the consensus estimate of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the business posted ($1.91) EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts forecast that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

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 paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, September 13th. The Hanover Insurance Group’s payout ratio 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.