Federated Hermes Inc. Reduces Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Federated Hermes Inc. reduced its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,460 shares of the insurance provider’s stock after selling 92 shares during the quarter. Federated Hermes Inc.’s holdings in The Hanover Insurance Group were worth $2,065,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in The Hanover Insurance Group during the 1st quarter worth about $31,000. Quarry LP acquired a new stake in shares of The Hanover Insurance Group during the fourth quarter worth about $34,000. 1620 Investment Advisors Inc. purchased a new stake in The Hanover Insurance Group in the second quarter valued at approximately $42,000. GHP Investment Advisors Inc. increased its holdings in The Hanover Insurance Group by 64.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after buying an additional 168 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in The Hanover Insurance Group during the 4th quarter worth approximately $65,000. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Trading Down 1.5 %

Shares of The Hanover Insurance Group stock opened at $146.83 on Friday. The firm has a 50-day simple moving average of $138.47 and a two-hundred day simple moving average of $132.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.40. The Hanover Insurance Group, Inc. has a fifty-two week low of $108.03 and a fifty-two week high of $150.95. The company has a market cap of $5.28 billion, a P/E ratio of 32.92 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last released 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 company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm posted ($1.91) EPS. The Hanover Insurance Group’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will post 10.85 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.85 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.32%. The Hanover Insurance Group’s dividend payout ratio is currently 76.23%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on THG shares. Keefe, Bruyette & Woods upped their price objective on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. JMP Securities upped their price target on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the company a “market outperform” rating in a report on Thursday, August 1st. Piper Sandler lifted their price objective on 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. Finally, Bank of America lowered their target price on The Hanover Insurance Group from $161.00 to $158.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.80.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at $13,459,950. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Jeffrey M. Farber sold 300 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 89,733 shares in the company, valued at approximately $13,459,950. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,352 shares of company stock valued at $1,766,623. 2.40% of the stock is owned by corporate 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.