Quarry LP Invests $78,000 in The Hanover Insurance Group, Inc. (NYSE:THG)

Quarry LP purchased a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 621 shares of the insurance provider’s stock, valued at approximately $78,000.

A number of other large investors also recently bought and sold shares of THG. Wellington Management Group LLP grew its stake in shares of The Hanover Insurance Group by 149.4% during the 4th quarter. Wellington Management Group LLP now owns 417,767 shares of the insurance provider’s stock worth $50,725,000 after purchasing an additional 250,254 shares during the period. Price T Rowe Associates Inc. MD grew its position in The Hanover Insurance Group by 75.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 965,374 shares of the insurance provider’s stock valued at $117,217,000 after buying an additional 414,993 shares during the period. Boston Partners increased its holdings in The Hanover Insurance Group by 111.8% in the first quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock valued at $1,739,000 after buying an additional 6,753 shares in the last quarter. Interval Partners LP acquired a new position in shares of The Hanover Insurance Group in the first quarter worth about $2,349,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of The Hanover Insurance Group by 65.9% during the 1st quarter. BNP Paribas Financial Markets now owns 11,926 shares of the insurance provider’s stock worth $1,624,000 after acquiring an additional 4,738 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Performance

Shares of NYSE:THG opened at $147.47 on Thursday. The business’s 50 day moving average price is $140.64 and its 200-day moving average price is $133.52. The Hanover Insurance Group, Inc. has a 1 year low of $108.82 and a 1 year high of $150.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $5.30 billion, a PE ratio of 33.07 and a beta of 0.70.

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, hitting the consensus estimate of $1.88. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted ($1.91) EPS. As a group, equities research analysts expect that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.31%. The Hanover Insurance Group’s payout ratio is 76.23%.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 1,200 shares of the company’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 value of $180,132.00. Following the completion of the sale, the executive vice president now directly owns 85,983 shares in the company, valued at $12,906,908.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 1,200 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 85,983 shares of the company’s stock, valued at $12,906,908.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Warren E. Barnes sold 500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the sale, the senior vice president now directly owns 3,013 shares of the company’s stock, valued at $416,547.25. The disclosure for this sale can be found here. Insiders have sold 12,352 shares of company stock valued at $1,766,623 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Bank of America reduced their price target on 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. Piper Sandler upped their target price on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods lifted their price target on shares of 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. Finally, JMP Securities upped their price objective 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. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.