Versor Investments LP Makes New Investment in The Hanover Insurance Group, Inc. (NYSE:THG)

Versor Investments LP acquired a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,505 shares of the insurance provider’s stock, valued at approximately $223,000.

A number of other hedge funds have also modified their holdings of the business. SG Americas Securities LLC grew its holdings in shares of The Hanover Insurance Group by 124.7% during the first quarter. SG Americas Securities LLC now owns 3,642 shares of the insurance provider’s stock worth $496,000 after buying an additional 2,021 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of The Hanover Insurance Group by 3.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,768 shares of the insurance provider’s stock valued at $3,100,000 after purchasing an additional 852 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of The Hanover Insurance Group during the first quarter worth approximately $365,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of The Hanover Insurance Group by 4.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 97 shares during the period. Finally, Bessemer Group Inc. grew its position in The Hanover Insurance Group by 22.5% in the 1st quarter. Bessemer Group Inc. now owns 1,136 shares of the insurance provider’s stock valued at $155,000 after buying an additional 209 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JMP Securities raised their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Oppenheimer lifted their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Bank of America boosted their target price on 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. Piper Sandler raised their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upped their price objective on The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

The Hanover Insurance Group Stock Performance

NYSE THG opened at $163.48 on Friday. The business has a 50 day moving average price of $150.50 and a 200 day moving average price of $138.47. The company has a market capitalization of $5.89 billion, a P/E ratio of 16.22 and a beta of 0.70. The Hanover Insurance Group, Inc. has a 1-year low of $116.70 and a 1-year high of $164.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.40. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. Sell-side analysts expect that The Hanover Insurance Group, Inc. will post 11.29 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.85 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. The Hanover Insurance Group’s dividend payout ratio is presently 33.73%.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction dated 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 sale, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. This trade represents a 15.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group 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 disclosure for this sale can be found here. Insiders sold a total of 41,303 shares of company stock valued at $6,306,926 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

About The Hanover Insurance Group

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.