Tectonic Advisors LLC Invests $426,000 in The Hanover Insurance Group, Inc. (NYSE:THG)

Tectonic Advisors LLC bought a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,879 shares of the insurance provider’s stock, valued at approximately $426,000.

Several other hedge funds have also recently added to or reduced their stakes in THG. V Square Quantitative Management LLC acquired a new position in shares of The Hanover Insurance Group during the third quarter valued at $26,000. Point72 Hong Kong Ltd acquired a new position in The Hanover Insurance Group during the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth about $42,000. UMB Bank n.a. lifted its stake in shares of The Hanover Insurance Group by 35.4% in the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 109 shares during the period. Finally, GHP Investment Advisors Inc. boosted its holdings 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 acquiring an additional 168 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on THG. Bank of America boosted their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler lifted their target price on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $160.00 price target on shares of The Hanover Insurance Group in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.20.

Insider Activity

In other news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were 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 owns 3,013 shares in the company, valued at $416,547.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey M. Farber sold 12,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the transaction, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. 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 quarter. Corporate insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Trading Down 2.0 %

Shares of THG opened at $147.82 on Friday. The business’s 50-day moving average price is $146.22 and its 200 day moving average price is $135.81. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $5.31 billion, a P/E ratio of 33.14 and a beta of 0.69. The Hanover Insurance Group, Inc. has a 1-year low of $112.22 and a 1-year high of $155.84.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. The business had revenue of $1.54 billion for 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% compared to the same quarter last year. During the same period last year, the firm posted ($1.91) earnings per share. Analysts expect that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders 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 dividend yield of 2.30%. The Hanover Insurance Group’s payout ratio is currently 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.