Highland Capital Management LLC Makes New Investment in The Hanover Insurance Group, Inc. (NYSE:THG)

Highland Capital Management LLC purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 1,567 shares of the insurance provider’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners raised its stake in shares of The Hanover Insurance Group by 111.8% during the 1st quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock worth $1,739,000 after buying an additional 6,753 shares during the last quarter. Interval Partners LP acquired a new position in shares of The Hanover Insurance Group during the 1st quarter worth $2,349,000. BNP Paribas Financial Markets raised its stake in shares of The Hanover Insurance Group by 65.9% during the 1st quarter. BNP Paribas Financial Markets now owns 11,926 shares of the insurance provider’s stock worth $1,624,000 after buying an additional 4,738 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of The Hanover Insurance Group during the 1st quarter worth $867,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of The Hanover Insurance Group during the 2nd quarter worth $681,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

THG has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. JMP Securities reissued a “market outperform” rating and issued a $160.00 target price on shares of The Hanover Insurance Group in a research note on Tuesday, October 15th. Bank of America boosted 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 note on Thursday, October 10th. Finally, Piper Sandler boosted their target price on shares of 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $160.20.

Insider Transactions at The Hanover Insurance Group

In other news, Director Kathy S. Lane sold 1,884 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total transaction of $252,889.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the transaction, the senior vice president now owns 3,013 shares in the company, valued at $416,547.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathy S. Lane sold 1,884 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,303 shares of company stock worth $4,372,203. 2.40% of the stock is currently owned by company insiders.

The Hanover Insurance Group Trading Down 2.0 %

NYSE THG opened at $147.82 on Monday. The Hanover Insurance Group, Inc. has a 12 month low of $112.22 and a 12 month high of $155.84. The company has a 50-day moving average of $146.22 and a 200-day moving average of $135.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $5.31 billion, a P/E ratio of 33.14 and a beta of 0.69.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data 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 company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted ($1.91) EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s payout ratio is currently 76.23%.

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.