Point72 Asset Management L.P. Makes New Investment in The Hanover Insurance Group, Inc. (NYSE:THG)

Point72 Asset Management L.P. bought a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 117,059 shares of the insurance provider’s stock, valued at approximately $14,684,000. Point72 Asset Management L.P. owned 0.33% of The Hanover Insurance Group at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Parallel Advisors LLC increased its stake in 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 worth $210,000 after purchasing an additional 150 shares in the last quarter. TD Asset Management Inc increased its position in shares of The Hanover Insurance Group by 1.7% during the fourth quarter. TD Asset Management Inc now owns 24,326 shares of the insurance provider’s stock worth $2,954,000 after acquiring an additional 400 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of The Hanover Insurance Group by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 15,743 shares of the insurance provider’s stock worth $1,912,000 after acquiring an additional 160 shares during the period. Bank of Nova Scotia lifted its position in 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 valued at $2,853,000 after acquiring an additional 19,321 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in The Hanover Insurance Group by 1,294.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 145,089 shares of the insurance provider’s stock worth $17,617,000 after purchasing an additional 134,685 shares during the period. 86.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Kathy S. Lane sold 1,884 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total transaction of $252,889.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other The Hanover Insurance Group 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 transaction of $252,889.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey M. Farber sold 1,200 shares of The Hanover Insurance Group stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $150.11, for a total value of $180,132.00. Following the completion of the transaction, the executive vice president now owns 85,983 shares in the company, valued at approximately $12,906,908.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,352 shares of company stock worth $1,766,623. Company insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Trading Up 0.8 %

THG stock opened at $148.11 on Tuesday. 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 company has a market capitalization of $5.32 billion, a PE ratio of 33.21 and a beta of 0.70. The Hanover Insurance Group, Inc. has a 52 week low of $108.03 and a 52 week high of $150.95. The company’s 50-day simple moving average is $140.30 and its 200 day simple moving average is $133.38.

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

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.30%. The Hanover Insurance Group’s payout ratio is 76.23%.

Wall Street Analysts Forecast Growth

THG has been the topic of a number of research reports. Piper Sandler boosted their price target on The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JMP Securities upped their price target on 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 upped their target price on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Finally, Bank of America cut 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 research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.80.

The Hanover Insurance Group Company 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.