The Hanover Insurance Group, Inc. (NYSE:THG) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,593 shares of the insurance provider’s stock after selling 329 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of The Hanover Insurance Group worth $2,754,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of The Hanover Insurance Group in the third quarter valued at approximately $26,000. 1620 Investment Advisors Inc. purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at approximately $42,000. GHP Investment Advisors Inc. boosted its stake in shares of The Hanover Insurance Group by 64.9% in the second quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock valued at $54,000 after buying an additional 168 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of The Hanover Insurance Group in the third quarter valued at approximately $60,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Up 0.5 %

Shares of NYSE:THG opened at $164.15 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The Hanover Insurance Group, Inc. has a 52-week low of $119.36 and a 52-week high of $166.13. The stock’s fifty day simple moving average is $154.67 and its 200-day simple moving average is $141.09. The company has a market capitalization of $5.91 billion, a P/E ratio of 16.28 and a beta of 0.71.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.65 by $0.40. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, equities research analysts forecast that The Hanover Insurance Group, Inc. will post 11.43 earnings per share for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.90 dividend. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, December 13th. The Hanover Insurance Group’s dividend payout ratio is presently 33.73%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 6,114 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $162.36, for a total transaction of $992,669.04. Following the completion of the sale, the executive vice president now directly owns 54,091 shares in the company, valued at $8,782,214.76. This represents a 10.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 30,551 shares of company stock worth $4,781,935. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

THG has been the topic of a number of research analyst reports. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price on the stock. in a research report on Thursday, November 21st. Piper Sandler boosted their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods boosted their target price on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. JMP Securities boosted their target price on 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. Finally, Oppenheimer boosted their target price on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three 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 Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $173.83.

About The Hanover Insurance Group

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.