The Hanover Insurance Group, Inc. (NYSE:THG) Holdings Trimmed by Quarry LP

Quarry LP lowered its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 54.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281 shares of the insurance provider’s stock after selling 340 shares during the quarter. Quarry LP’s holdings in The Hanover Insurance Group were worth $42,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of THG. International Assets Investment Management LLC lifted its holdings in shares of The Hanover Insurance Group by 14,711.0% during the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after purchasing an additional 548,720 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of The Hanover Insurance Group by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock valued at $219,883,000 after purchasing an additional 143,339 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at $14,684,000. AQR Capital Management LLC lifted its holdings in shares of The Hanover Insurance Group by 116.7% during the second quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider’s stock valued at $14,150,000 after purchasing an additional 61,738 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at $4,284,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on THG. Oppenheimer upped their target price on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a research note on Thursday, November 21st. Morgan Stanley initiated coverage on The Hanover Insurance Group in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 price objective for the company. JMP Securities increased their price objective 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, Keefe, Bruyette & Woods increased their price objective on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $173.29.

The Hanover Insurance Group Stock Down 2.3 %

THG opened at $155.06 on Wednesday. The Hanover Insurance Group, Inc. has a fifty-two week low of $119.36 and a fifty-two week high of $166.13. The business has a 50-day moving average of $155.63 and a 200-day moving average of $141.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $5.59 billion, a PE ratio of 15.38 and a beta of 0.71.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business earned $0.19 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts forecast that The Hanover Insurance Group, Inc. will post 11.41 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.90 per share. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.32%. The Hanover Insurance Group’s dividend payout ratio is currently 35.71%.

Insider Activity

In other news, EVP Jeffrey M. Farber sold 1,200 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $150.11, for a total transaction of $180,132.00. Following the transaction, the executive vice president now owns 85,983 shares of the company’s stock, valued at approximately $12,906,908.13. This represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 30,551 shares of company stock valued at $4,781,935. Insiders own 2.50% of the company’s stock.

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.