Burns Matteson Capital Management LLC Purchases 2,623 Shares of The Hanover Insurance Group, Inc. $THG

Burns Matteson Capital Management LLC acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,623 shares of the insurance provider’s stock, valued at approximately $562,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mather Group LLC. bought a new stake in The Hanover Insurance Group during the third quarter valued at about $29,000. Clearstead Trust LLC bought a new position in The Hanover Insurance Group in the second quarter worth about $36,000. Root Financial Partners LLC raised its holdings in The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 97 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in The Hanover Insurance Group by 106.4% in the third quarter. Elevation Wealth Partners LLC now owns 194 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at about $51,000. Institutional investors own 86.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Oppenheimer reissued an “outperform” rating and set a $260.00 price target on shares of The Hanover Insurance Group in a research report on Tuesday. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Citizens Jmp boosted their price objective on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 29th. Piper Sandler lowered shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the company a “market perform” rating in a research report on Friday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.43.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Dennis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the completion of the sale, the executive vice president directly owned 12,003 shares in the company, valued at approximately $2,650,142.37. The trade was a 35.31% 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 1,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the sale, the director directly owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,655 shares of company stock valued at $2,145,846 over the last three months. 2.80% of the stock is currently owned by insiders.

The Hanover Insurance Group Trading Up 2.0%

NYSE:THG opened at $232.88 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $223.96 and a 200-day simple moving average of $207.32. The company has a market capitalization of $8.11 billion, a P/E ratio of 11.12 and a beta of 0.23. The Hanover Insurance Group, Inc. has a 12 month low of $166.54 and a 12 month high of $236.07.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. On average, equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 20.25 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a yield of 1.6%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 18.14%.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance holding company headquartered in Worcester, Massachusetts. Founded in 1852, the company operates through a network of independent agents and provides insurance products and services primarily in the United States.

The company’s business is organized around personal, commercial and specialty insurance. Its personal lines include automobile, homeowners, condominium, renters and umbrella coverage. Commercial offerings include property, liability, workers’ compensation, commercial automobile and package policies for small and middle-market businesses, while specialty products serve selected industries and professional risks.

The Hanover also provides risk-management resources, claims services and related support to policyholders and agents.