Congress Asset Management Co. MA Acquires 9,327 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Congress Asset Management Co. MA lifted its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 46.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,206 shares of the insurance provider’s stock after purchasing an additional 9,327 shares during the quarter. Congress Asset Management Co. MA owned 0.08% of The Hanover Insurance Group worth $3,546,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Quarry LP bought a new position in shares of The Hanover Insurance Group during the fourth quarter worth approximately $34,000. Price T Rowe Associates Inc. MD increased its holdings in shares of The Hanover Insurance Group by 75.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 965,374 shares of the insurance provider’s stock worth $117,217,000 after purchasing an additional 414,993 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of The Hanover Insurance Group by 1,294.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 145,089 shares of the insurance provider’s stock worth $17,617,000 after purchasing an additional 134,685 shares during the period. Bank of Nova Scotia increased its stake in The Hanover Insurance Group by 462.9% in the fourth quarter. Bank of Nova Scotia now owns 23,495 shares of the insurance provider’s stock valued at $2,853,000 after acquiring an additional 19,321 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in The Hanover Insurance Group by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 15,743 shares of the insurance provider’s stock valued at $1,912,000 after acquiring an additional 160 shares during the last quarter. 86.61% of the stock is owned by institutional investors.

Insider Buying and Selling at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,119 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Willard T. Lee sold 1,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total transaction of $135,940.00. Following the completion of the sale, the executive vice president now directly owns 4,398 shares in the company, valued at $597,864.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jane D. Carlin sold 1,119 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $132.25, for a total transaction of $147,987.75. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

The Hanover Insurance Group Trading Up 2.0 %

Shares of NYSE THG opened at $123.31 on Tuesday. The stock has a market cap of $4.43 billion, a P/E ratio of 27.65 and a beta of 0.70. The firm has a 50 day moving average price of $130.89 and a two-hundred day moving average price of $129.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.39 and a current ratio of 0.39. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $138.30.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.47. The Hanover Insurance Group had a return on equity of 7.00% and a net margin of 2.67%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. As a group, equities analysts forecast that The Hanover Insurance Group, Inc. will post 10.67 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, June 13th. The Hanover Insurance Group’s payout ratio is presently 76.23%.

Analyst Upgrades and Downgrades

THG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Oppenheimer lifted their price objective on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler reissued an “overweight” rating and issued a $147.00 price objective on shares of The Hanover Insurance Group in a research note on Monday, April 1st. TheStreet raised shares of The Hanover Insurance Group from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $150.00 price target on shares of The Hanover Insurance Group in a report on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.00.

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.