Algert Global LLC Buys 1,770 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Algert Global LLC raised its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 19.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,839 shares of the insurance provider’s stock after acquiring an additional 1,770 shares during the period. Algert Global LLC’s holdings in The Hanover Insurance Group were worth $1,605,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of The Hanover Insurance Group during the third quarter valued at about $26,000. Point72 Hong Kong Ltd bought a new position in shares of The Hanover Insurance Group during the 2nd quarter worth approximately $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of The Hanover Insurance Group in the 2nd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of The Hanover Insurance Group in the third quarter valued at approximately $60,000. Finally, UMB Bank n.a. grew its holdings in shares of The Hanover Insurance Group by 35.4% in the third quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 109 shares in the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 1,200 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $150.11, for a total transaction of $180,132.00. Following the sale, the executive vice president now owns 85,983 shares in the company, valued at approximately $12,906,908.13. This trade represents a 1.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 30,551 shares of company stock valued at $4,781,935 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

The Hanover Insurance Group Stock Up 0.8 %

Shares of NYSE THG opened at $164.27 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 company has a market cap of $5.92 billion, a P/E ratio of 16.31 and a beta of 0.70. The Hanover Insurance Group, Inc. has a 52 week low of $119.36 and a 52 week high of $165.27. The business has a 50-day simple moving average of $152.80 and a two-hundred day simple moving average of $139.93.

The Hanover Insurance Group (NYSE:THG) last posted 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 business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The Hanover Insurance Group’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid 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 2.07%. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler boosted 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 report on Friday, November 1st. JMP Securities raised their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Bank of America boosted their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Janney Montgomery Scott lowered shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target for the company. in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.83.

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.