PNC Financial Services Group Inc. Sells 203 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

PNC Financial Services Group Inc. lessened its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,965 shares of the insurance provider’s stock after selling 203 shares during the quarter. PNC Financial Services Group Inc.’s holdings in The Hanover Insurance Group were worth $603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in The Hanover Insurance Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,623,766 shares of the insurance provider’s stock valued at $439,998,000 after acquiring an additional 13,030 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in The Hanover Insurance Group by 27.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,214,520 shares of the insurance provider’s stock valued at $147,467,000 after acquiring an additional 264,483 shares in the last quarter. Victory Capital Management Inc. boosted its position in The Hanover Insurance Group by 7.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,033,560 shares of the insurance provider’s stock valued at $125,495,000 after acquiring an additional 75,737 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in The Hanover Insurance Group by 75.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 965,374 shares of the insurance provider’s stock valued at $117,217,000 after acquiring an additional 414,993 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of The Hanover Insurance Group by 12.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 815,172 shares of the insurance provider’s stock worth $90,468,000 after purchasing an additional 88,456 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of THG opened at $122.22 on Thursday. The stock has a 50-day moving average of $130.02 and a two-hundred day moving average of $129.20. The Hanover Insurance Group, Inc. has a one year low of $103.82 and a one year high of $138.30. 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 stock has a market cap of $4.39 billion, a P/E ratio of 27.40 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 10.39 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.78%. The Hanover Insurance Group’s payout ratio is currently 76.23%.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Willard T. Lee sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $135.94, for a total transaction of $135,940.00. Following the completion of the transaction, the executive vice president now owns 4,398 shares in the company, valued at approximately $597,864.12. The transaction was disclosed in a document filed 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 Hanover Insurance Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $135.94, for a total transaction of $135,940.00. Following the completion of the transaction, the executive vice president now owns 4,398 shares in the company, valued at approximately $597,864.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jane D. Carlin sold 1,119 shares of The Hanover Insurance Group stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on THG. 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. Oppenheimer raised their price objective on The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Keefe, Bruyette & Woods raised their price objective on The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of The Hanover Insurance Group in a research report on Monday, April 15th. One investment 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 company currently has an average rating of “Moderate Buy” and an average target price of $146.00.

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.