The Hanover Insurance Group, Inc. $THG Stock Sold by Pullen Investment Management LLC

Pullen Investment Management LLC lessened its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 54.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,641 shares of the insurance provider’s stock after selling 7,930 shares during the period. Pullen Investment Management LLC’s holdings in The Hanover Insurance Group were worth $1,422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at approximately $756,471,000. Dimensional Fund Advisors LP grew its stake in The Hanover Insurance Group by 16.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after purchasing an additional 136,998 shares during the period. First Trust Advisors LP grew its stake in The Hanover Insurance Group by 3.2% in the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock valued at $143,416,000 after purchasing an additional 25,945 shares during the period. Bank of New York Mellon Corp increased its position in shares of The Hanover Insurance Group by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 338,870 shares of the insurance provider’s stock valued at $58,743,000 after purchasing an additional 5,219 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of The Hanover Insurance Group by 10.1% during the 1st quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider’s stock valued at $43,533,000 after purchasing an additional 22,978 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

THG has been the topic of a number of recent analyst reports. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada increased their price target on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Citizens Jmp raised 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 report on Wednesday, July 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Finally, Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.43.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Jane Carlin sold 1,000 shares of the stock in a transaction dated 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 transaction, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dennis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the transaction, the executive vice president owned 12,003 shares of the company’s stock, valued at $2,669,587.23. The trade was a 14.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,655 shares of company stock worth $2,145,846 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $237.99 on Monday. The stock has a fifty day simple moving average of $225.03 and a two-hundred day simple moving average of $209.67. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $239.91. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 11.36 and a beta of 0.23. 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 Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $4.35 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.95 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 annualized dividend and a yield of 1.6%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 18.14%.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.