Quarry LP Purchases New Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Quarry LP acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 278 shares of the insurance provider’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. grew its holdings in The Hanover Insurance Group by 55.6% during the fourth quarter. UMB Bank n.a. now owns 235 shares of the insurance provider’s stock worth $29,000 after buying an additional 84 shares in the last quarter. Baystate Wealth Management LLC grew its stake in shares of The Hanover Insurance Group by 4,400.0% in the 4th quarter. Baystate Wealth Management LLC now owns 360 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 352 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $91,000. Signaturefd LLC lifted its position in shares of The Hanover Insurance Group by 14.5% during the fourth quarter. Signaturefd LLC now owns 1,216 shares of the insurance provider’s stock valued at $148,000 after purchasing an additional 154 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in The Hanover Insurance Group by 36.1% during the fourth quarter. Assetmark Inc. now owns 1,270 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 337 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction of $147,987.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The Hanover Insurance Group news, EVP Willard T. Lee sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $135.94, for a total value of $135,940.00. Following the sale, the executive vice president now owns 4,398 shares of the company’s stock, valued at approximately $597,864.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jane D. Carlin sold 1,119 shares of The Hanover Insurance Group stock in a transaction that occurred on Friday, May 24th. The shares were 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. Company insiders own 2.50% of the company’s stock.

The Hanover Insurance Group Price Performance

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

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

The Hanover Insurance Group Dividend Announcement

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

Analyst Ratings Changes

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