Charles Schwab Investment Management Inc. Raises Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Charles Schwab Investment Management Inc. increased its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 5.1% in the third quarter, HoldingsChannel reports. The firm owned 369,545 shares of the insurance provider’s stock after buying an additional 17,856 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in The Hanover Insurance Group were worth $54,733,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of THG. Massachusetts Financial Services Co. MA lifted its holdings in shares of The Hanover Insurance Group by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock worth $219,883,000 after acquiring an additional 143,339 shares during the period. Pathstone Holdings LLC grew its stake in The Hanover Insurance Group by 3.4% during the third quarter. Pathstone Holdings LLC now owns 26,204 shares of the insurance provider’s stock worth $3,881,000 after buying an additional 854 shares during the period. Quest Partners LLC raised its stake in shares of The Hanover Insurance Group by 707.5% in the 3rd quarter. Quest Partners LLC now owns 22,036 shares of the insurance provider’s stock valued at $3,264,000 after acquiring an additional 19,307 shares during the period. AMG National Trust Bank boosted its position in The Hanover Insurance Group by 99.5% during the 3rd quarter. AMG National Trust Bank now owns 10,705 shares of the insurance provider’s stock worth $1,586,000 after purchasing an additional 5,339 shares during the period. Finally, Claro Advisors LLC lifted its stake in shares of The Hanover Insurance Group by 6.9% during the third quarter. Claro Advisors LLC now owns 5,127 shares of the insurance provider’s stock worth $759,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Price Performance

NYSE THG opened at $165.01 on Friday. The company has a 50-day moving average price of $153.76 and a two-hundred day moving average price of $140.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 16.37 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 $166.13.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, beating 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 business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business earned $0.19 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Analysts forecast that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 33.73%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a research report on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price target on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Bank of America raised 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 report on Thursday, October 10th. Piper Sandler lifted their target price 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. Finally, JMP Securities boosted their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.83.

Insider Activity

In related news, EVP Jeffrey M. Farber sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the completion of the sale, the executive vice president now directly owns 89,733 shares in the company, valued at approximately $13,459,950. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 30,551 shares of company stock worth $4,781,935. 2.40% of the stock is owned by company insiders.

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.