C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.07 Million in The Hanover Insurance Group, Inc. (NYSE:THG)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,942 shares of the insurance provider’s stock, valued at approximately $1,074,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its position in The Hanover Insurance Group by 61.5% in the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider’s stock valued at $4,022,000 after acquiring an additional 10,341 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in The Hanover Insurance Group in the fourth quarter valued at $201,000. BNP Paribas Financial Markets lifted its position in The Hanover Insurance Group by 104.4% in the third quarter. BNP Paribas Financial Markets now owns 11,967 shares of the insurance provider’s stock valued at $1,772,000 after acquiring an additional 6,112 shares during the last quarter. HighTower Advisors LLC lifted its position in The Hanover Insurance Group by 82.4% in the third quarter. HighTower Advisors LLC now owns 11,500 shares of the insurance provider’s stock valued at $1,702,000 after acquiring an additional 5,194 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $1,046,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Trading Down 1.5 %

Shares of The Hanover Insurance Group stock opened at $160.20 on Wednesday. The Hanover Insurance Group, Inc. has a 52-week low of $119.66 and a 52-week high of $166.98. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The company’s 50-day simple moving average is $155.72 and its 200-day simple moving average is $151.42. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 13.70 and a beta of 0.72.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. As a group, equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 14.11 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.90 per share. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, December 13th. The Hanover Insurance Group’s dividend payout ratio is presently 30.80%.

Analysts Set New Price Targets

THG has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. JMP Securities upped their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Finally, Oppenheimer upped their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group has an average rating of “Hold” and a consensus price target of $175.25.

The Hanover Insurance Group 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.