Riverwater Partners LLC Acquires New Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Riverwater Partners LLC acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,130 shares of the insurance provider’s stock, valued at approximately $1,641,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of The Hanover Insurance Group in the third quarter valued at approximately $26,000. Point72 Hong Kong Ltd purchased a new stake in The Hanover Insurance Group in the 2nd quarter worth approximately $25,000. Riverview Trust Co acquired a new position in The Hanover Insurance Group in the 1st quarter valued at $31,000. 1620 Investment Advisors Inc. purchased a new position in shares of The Hanover Insurance Group during the 2nd quarter worth $42,000. Finally, UMB Bank n.a. boosted its holdings in shares of The Hanover Insurance Group by 35.4% during the third quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 109 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Trading Down 0.4 %

NYSE THG opened at $150.23 on Thursday. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 33.68 and a beta of 0.69. 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 one year low of $112.22 and a one year high of $155.84. The company’s 50 day moving average price is $145.63 and its 200 day moving average price is $135.56.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, meeting analysts’ consensus estimates of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted ($1.91) EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 10.99 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Friday, September 13th. The Hanover Insurance Group’s payout ratio is 76.23%.

Insider Activity

In related news, EVP Jeffrey M. Farber sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the transaction, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at approximately $10,249,392.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, 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 completion of the sale, the senior vice president now directly owns 3,013 shares of the company’s stock, valued at approximately $416,547.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey M. Farber sold 12,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the transaction, the executive vice president now owns 66,091 shares in the company, valued at $10,249,392.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,303 shares of company stock worth $4,372,203. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on THG shares. Piper Sandler upped their target price 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. JMP Securities reiterated a “market outperform” rating and set a $160.00 price objective on shares of The Hanover Insurance Group in a report on Tuesday, October 15th. Bank of America raised their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.20.

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.