New York State Teachers Retirement System Increases Position in The Hanover Insurance Group, Inc. (NYSE:THG)

New York State Teachers Retirement System lifted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 2.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,963 shares of the insurance provider’s stock after buying an additional 1,082 shares during the quarter. New York State Teachers Retirement System’s holdings in The Hanover Insurance Group were worth $7,104,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Abich Financial Wealth Management LLC bought a new stake in The Hanover Insurance Group during the 3rd quarter valued at approximately $77,000. Boston Financial Mangement LLC raised its position in shares of The Hanover Insurance Group by 6.8% during the third quarter. Boston Financial Mangement LLC now owns 2,350 shares of the insurance provider’s stock valued at $348,000 after buying an additional 150 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of The Hanover Insurance Group by 9.9% in the third quarter. Nisa Investment Advisors LLC now owns 13,878 shares of the insurance provider’s stock worth $2,055,000 after buying an additional 1,250 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of The Hanover Insurance Group by 1.8% during the third quarter. State of Alaska Department of Revenue now owns 15,537 shares of the insurance provider’s stock worth $2,300,000 after acquiring an additional 280 shares during the last quarter. Finally, Pullen Investment Management LLC grew its stake in The Hanover Insurance Group by 84.3% during the third quarter. Pullen Investment Management LLC now owns 8,172 shares of the insurance provider’s stock valued at $1,210,000 after acquiring an additional 3,738 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on THG. Bank of America raised their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Oppenheimer upped their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler increased their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday. Finally, JMP Securities boosted their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $168.20.

Insider Activity at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 12,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the sale, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Jeffrey M. Farber sold 12,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the sale, the executive vice president now owns 66,091 shares of the company’s stock, valued at $10,249,392.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey M. Farber sold 300 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was 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 owns 89,733 shares of the company’s stock, valued at $13,459,950. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,303 shares of company stock worth $4,372,203 over the last three months. 2.40% of the stock is owned by corporate insiders.

The Hanover Insurance Group Price Performance

THG stock opened at $147.14 on Tuesday. The stock has a market cap of $5.29 billion, a PE ratio of 14.60 and a beta of 0.70. The Hanover Insurance Group, Inc. has a 12 month low of $112.22 and a 12 month high of $155.84. The company has a 50-day moving average price of $147.58 and a 200 day moving average price of $136.58. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.40. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. Equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 10.92 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.31%. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

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.