Mutual of America Capital Management LLC Sells 1,132 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Mutual of America Capital Management LLC lowered its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 5.5% during the third quarter, HoldingsChannel reports. The fund owned 19,449 shares of the insurance provider’s stock after selling 1,132 shares during the quarter. Mutual of America Capital Management LLC’s holdings in The Hanover Insurance Group were worth $2,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of The Hanover Insurance Group during the second quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in The Hanover Insurance Group in the third quarter valued at $26,000. 1620 Investment Advisors Inc. bought a new position in The Hanover Insurance Group during the 2nd quarter worth $42,000. GHP Investment Advisors Inc. lifted its holdings in The Hanover Insurance Group by 64.9% during the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after buying an additional 168 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of The Hanover Insurance Group in the 3rd quarter valued at about $60,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Up 0.5 %

The Hanover Insurance Group stock opened at $163.60 on Friday. The company has a market capitalization of $5.89 billion, a PE ratio of 16.23 and a beta of 0.70. The Hanover Insurance Group, Inc. has a 12-month low of $119.36 and a 12-month high of $165.27. The firm’s fifty day moving average is $152.25 and its 200 day moving average is $139.50. 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 (NYSE:THG) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share 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 the consensus estimate of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently declared 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 was Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.08%. The Hanover Insurance Group’s payout ratio is currently 33.73%.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 8,468 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total transaction of $1,219,476.68. Following the transaction, the executive vice president now owns 36,281 shares in the company, valued at approximately $5,224,826.81. This represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey M. Farber sold 300 shares of The Hanover Insurance Group stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the transaction, the executive vice president now owns 89,733 shares of the company’s stock, valued at $13,459,950. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,419 shares of company stock valued at $6,054,037. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler raised their price objective 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. Oppenheimer boosted their price target on shares of 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. Bank of America increased their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Janney Montgomery Scott lowered shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price on the stock. in a report on Thursday. Finally, JMP Securities upped their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $173.83.

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.