Peregrine Capital Management LLC Sells 6,028 Shares of The Hanover Insurance Group, Inc. $THG

Peregrine Capital Management LLC cut its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 17.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,951 shares of the insurance provider’s stock after selling 6,028 shares during the period. Peregrine Capital Management LLC owned approximately 0.08% of The Hanover Insurance Group worth $4,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in The Hanover Insurance Group during the first quarter worth about $27,000. Ameritas Advisory Services LLC acquired a new position in shares of The Hanover Insurance Group during the second quarter worth about $39,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of The Hanover Insurance Group by 819.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 386 shares of the insurance provider’s stock worth $67,000 after buying an additional 344 shares during the period. UMB Bank n.a. boosted its position in shares of The Hanover Insurance Group by 20.3% during the second quarter. UMB Bank n.a. now owns 468 shares of the insurance provider’s stock worth $79,000 after buying an additional 79 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of The Hanover Insurance Group by 47.2% during the first quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider’s stock worth $87,000 after buying an additional 160 shares during the period. 86.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and set a $188.00 price objective for the company in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Wednesday, October 8th. JMP Securities set a $205.00 price objective on The Hanover Insurance Group in a research report on Thursday, July 31st. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Finally, Morgan Stanley lifted their target price on The Hanover Insurance Group from $185.00 to $190.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.00.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $168.84 on Wednesday. The business’s 50 day moving average price is $176.58 and its two-hundred day moving average price is $170.60. The company has a market cap of $6.04 billion, a PE ratio of 11.12 and a beta of 0.44. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.11. The Hanover Insurance Group, Inc. has a twelve month low of $145.17 and a twelve month high of $186.46.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $1.28. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. On average, analysts predict that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, September 12th. The Hanover Insurance Group’s payout ratio is currently 23.70%.

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.