M&T Bank Corp Purchases 10,260 Shares of The Hanover Insurance Group, Inc. $THG

M&T Bank Corp grew its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 429.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,649 shares of the insurance provider’s stock after acquiring an additional 10,260 shares during the quarter. M&T Bank Corp’s holdings in The Hanover Insurance Group were worth $2,312,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of THG. Millennium Management LLC boosted its holdings in shares of The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after buying an additional 33,495 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of The Hanover Insurance Group by 1,568.9% in the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock valued at $131,000 after buying an additional 706 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of The Hanover Insurance Group by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock valued at $38,052,000 after buying an additional 38,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of The Hanover Insurance Group by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock valued at $22,445,000 after buying an additional 7,712 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of The Hanover Insurance Group by 7.7% in the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after buying an additional 20,294 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock opened at $180.88 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.24. The Hanover Insurance Group, Inc. has a 52 week low of $160.70 and a 52 week high of $188.18. The company has a 50 day moving average price of $176.00 and a 200 day moving average price of $176.89. The firm has a market capitalization of $6.36 billion, a P/E ratio of 9.95 and a beta of 0.29.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Friday, February 20th. The insurance provider reported $5.46 EPS for the quarter. The Hanover Insurance Group had a net margin of 10.05% and a return on equity of 21.00%. The business had revenue of $1.67 billion during the quarter. Sell-side analysts expect that The Hanover Insurance Group, Inc. will post 16.92 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, March 13th. The Hanover Insurance Group’s payout ratio is presently 20.91%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 24,420 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $178.92, for a total transaction of $4,369,226.40. Following the completion of the sale, the executive vice president directly owned 32,174 shares in the company, valued at approximately $5,756,572.08. The trade was a 43.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jane D. Carlin sold 1,200 shares of The Hanover Insurance Group stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $180.91, for a total transaction of $217,092.00. Following the sale, the director owned 2,423 shares of the company’s stock, valued at approximately $438,344.93. The trade was a 33.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on THG shares. Keefe, Bruyette & Woods raised their price target on shares of The Hanover Insurance Group from $207.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Monday, April 20th. Morgan Stanley decreased their price objective on shares of The Hanover Insurance Group from $194.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Royal Bank Of Canada decreased their price objective on shares of The Hanover Insurance Group from $200.00 to $190.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $197.00.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.