Massachusetts Financial Services Co. MA Grows Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Massachusetts Financial Services Co. MA raised its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,484,592 shares of the insurance provider’s stock after buying an additional 143,339 shares during the period. Massachusetts Financial Services Co. MA’s holdings in The Hanover Insurance Group were worth $219,883,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of THG. O Shaughnessy Asset Management LLC increased its position 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 during the last quarter. Bessemer Group Inc. increased its position in shares of The Hanover Insurance Group by 22.5% during the 1st quarter. Bessemer Group Inc. now owns 1,136 shares of the insurance provider’s stock valued at $155,000 after purchasing an additional 209 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of The Hanover Insurance Group by 230.7% in the 1st quarter. Quadrature Capital Ltd now owns 6,733 shares of the insurance provider’s stock worth $916,000 after buying an additional 4,697 shares during the last quarter. BOKF NA grew its position in The Hanover Insurance Group by 5.6% during the first quarter. BOKF NA now owns 4,351 shares of the insurance provider’s stock valued at $583,000 after buying an additional 231 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in The Hanover Insurance Group by 5.3% during the first quarter. Janus Henderson Group PLC now owns 362,046 shares of the insurance provider’s stock worth $49,298,000 after buying an additional 18,109 shares during the last quarter. Institutional investors own 86.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on THG shares. Bank of America increased their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a report on Thursday. Oppenheimer boosted their target price on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JMP Securities increased their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.83.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 8,468 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 36,281 shares of the company’s stock, valued at $5,224,826.81. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Warren E. Barnes sold 500 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $138.25, for a total transaction of $69,125.00. Following the sale, the senior vice president now owns 3,013 shares in the company, valued at approximately $416,547.25. This trade represents a 14.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,419 shares of company stock valued at $6,054,037. 2.40% of the stock is owned by corporate insiders.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $163.60 on Friday. The Hanover Insurance Group, Inc. has a 12 month low of $119.36 and a 12 month high of $165.27. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.89 billion, a P/E ratio of 16.29 and a beta of 0.70. The company has a 50 day moving average of $151.90 and a 200 day moving average of $139.30.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.40. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. As a group, sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 11.29 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 33.73%.

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.