Parallel Advisors LLC Grows Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Parallel Advisors LLC lifted its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 32.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,868 shares of the insurance provider’s stock after buying an additional 702 shares during the period. Parallel Advisors LLC’s holdings in The Hanover Insurance Group were worth $360,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. O Shaughnessy Asset Management LLC grew its stake in shares of The Hanover Insurance Group by 4.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 97 shares in the last quarter. Signaturefd LLC increased its holdings in The Hanover Insurance Group by 8.7% during the 2nd quarter. Signaturefd LLC now owns 1,336 shares of the insurance provider’s stock worth $168,000 after purchasing an additional 107 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of The Hanover Insurance Group by 1.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 8,037 shares of the insurance provider’s stock valued at $976,000 after purchasing an additional 109 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of The Hanover Insurance Group by 20.7% during the 2nd quarter. Blue Trust Inc. now owns 753 shares of the insurance provider’s stock valued at $103,000 after buying an additional 129 shares during the last quarter. Finally, Pullen Investment Management LLC grew its position in shares of The Hanover Insurance Group by 3.1% during the second quarter. Pullen Investment Management LLC now owns 4,434 shares of the insurance provider’s stock worth $556,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on THG shares. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods increased their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Bank of America lowered their price objective on The Hanover Insurance Group from $161.00 to $158.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, JMP Securities lifted their target price on The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.80.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $149.58 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $137.58 and a 200 day simple moving average of $132.38. The Hanover Insurance Group, Inc. has a fifty-two week low of $108.03 and a fifty-two week high of $150.68. The company has a market cap of $5.38 billion, a PE ratio of 33.54 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.88. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the firm earned ($1.91) EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 10.85 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 76.23%.

Insider Activity

In related news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kathy S. Lane sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard W. Lavey sold 8,468 shares of The Hanover Insurance Group stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total value of $1,219,476.68. Following the sale, the executive vice president now directly owns 36,281 shares in the company, valued at approximately $5,224,826.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,852 shares of company stock valued at $1,541,491. 2.40% of the stock is currently owned by company insiders.

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.