First Citizens Bank & Trust Co. Purchases Shares of 1,427 The Hanover Insurance Group, Inc. (NYSE:THG)

First Citizens Bank & Trust Co. acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,427 shares of the insurance provider’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of THG. True Wealth Design LLC purchased a new position in The Hanover Insurance Group in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of The Hanover Insurance Group in the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of The Hanover Insurance Group in the third quarter worth $30,000. Eagle Bay Advisors LLC raised its holdings in The Hanover Insurance Group by 502.1% during the 4th quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock valued at $44,000 after buying an additional 236 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in The Hanover Insurance Group by 226.0% during the 4th quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider’s stock valued at $52,000 after buying an additional 235 shares during the period. Institutional investors own 86.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on THG. JMP Securities boosted their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Oppenheimer upped their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets increased their price objective on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Piper Sandler boosted their target price 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. Finally, Morgan Stanley assumed 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 target for the company. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, The Hanover Insurance Group presently has an average rating of “Hold” and an average target price of $174.88.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 5,886 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $160.05, for a total value of $942,054.30. Following the sale, the executive vice president now directly owns 60,205 shares of the company’s stock, valued at approximately $9,635,810.25. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 12,100 shares of company stock valued at $1,951,223. Corporate insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Trading Down 0.6 %

NYSE THG opened at $156.75 on Wednesday. The firm has a market capitalization of $5.65 billion, a PE ratio of 15.55 and a beta of 0.72. The stock’s 50 day moving average is $156.66 and its 200 day moving average is $148.85. The Hanover Insurance Group, Inc. has a twelve month low of $119.66 and a twelve month high of $166.13. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. Research analysts forecast that The Hanover Insurance Group, Inc. will post 11.46 earnings per share for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s dividend payout ratio is 35.71%.

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.