Thrivent Financial for Lutherans Has $3.33 Million Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Thrivent Financial for Lutherans trimmed its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 17.2% in the third quarter, HoldingsChannel.com reports. The firm owned 22,455 shares of the insurance provider’s stock after selling 4,676 shares during the period. Thrivent Financial for Lutherans’ holdings in The Hanover Insurance Group were worth $3,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in The Hanover Insurance Group by 14,711.0% in the 3rd quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after buying an additional 548,720 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at about $14,684,000. Massachusetts Financial Services Co. MA increased its stake in The Hanover Insurance Group by 5.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,341,253 shares of the insurance provider’s stock valued at $168,247,000 after acquiring an additional 70,161 shares during the period. AQR Capital Management LLC raised its position in The Hanover Insurance Group by 116.7% in the second quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider’s stock worth $14,150,000 after purchasing an additional 61,738 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in The Hanover Insurance Group during the second quarter worth about $4,284,000. 86.61% of the stock is owned by institutional investors.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $161.69 on Tuesday. The stock has a 50-day simple moving average of $152.25 and a 200 day simple moving average of $139.56. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 16.04 and a beta of 0.70. 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 12-month low of $119.36 and a 12-month high of $165.27.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 11.43 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 33.73%.

Wall Street Analysts Forecast Growth

THG has been the subject of a number of recent research reports. Piper Sandler increased their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America increased their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Oppenheimer increased their target price 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. Finally, JMP Securities boosted 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.83.

Insider Transactions 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 that occurred on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total value of $1,219,476.68. Following the completion of the sale, the executive vice president now owns 36,281 shares of the company’s stock, valued at approximately $5,224,826.81. This represents a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey M. Farber sold 6,114 shares of The Hanover Insurance Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $162.36, for a total transaction of $992,669.04. Following the transaction, the executive vice president now directly owns 54,091 shares in the company, valued at approximately $8,782,214.76. This represents a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,919 shares of company stock worth $5,984,912 in the last three months. Insiders own 2.50% of the company’s stock.

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.