New York State Common Retirement Fund cut its stake in The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 7.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 27,559 shares of the insurance provider’s stock after selling 2,100 shares during the period. New York State Common Retirement Fund’s holdings in The Hanover Insurance Group were worth $4,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in The Hanover Insurance Group by 61.5% in the 3rd quarter. Barclays PLC now owns 27,155 shares of the insurance provider’s stock valued at $4,022,000 after purchasing an additional 10,341 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in The Hanover Insurance Group in the 4th quarter valued at $201,000. BNP Paribas Financial Markets boosted its holdings in The Hanover Insurance Group by 104.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,967 shares of the insurance provider’s stock valued at $1,772,000 after purchasing an additional 6,112 shares during the period. HighTower Advisors LLC boosted its holdings in The Hanover Insurance Group by 82.4% in the 3rd quarter. HighTower Advisors LLC now owns 11,500 shares of the insurance provider’s stock valued at $1,702,000 after purchasing an additional 5,194 shares during the period. Finally, Congress Asset Management Co. raised its stake in shares of The Hanover Insurance Group by 42.5% in the 4th quarter. Congress Asset Management Co. now owns 46,091 shares of the insurance provider’s stock valued at $7,128,000 after buying an additional 13,750 shares in the last quarter. 86.61% of the stock is owned by institutional investors.
The Hanover Insurance Group Trading Up 2.7 %
Shares of The Hanover Insurance Group stock opened at $170.46 on Friday. The stock has a market capitalization of $6.14 billion, a P/E ratio of 14.58 and a beta of 0.72. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $156.75 and a 200 day simple moving average of $152.68. The Hanover Insurance Group, Inc. has a 12-month low of $119.66 and a 12-month high of $170.61.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. Research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, March 14th. The Hanover Insurance Group’s dividend payout ratio is currently 30.80%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Janney Montgomery Scott cut shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a research note on Thursday, November 21st. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Oppenheimer increased their price objective on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays upgraded shares of The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. Finally, BMO Capital Markets increased their price objective on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $175.25.
View Our Latest Stock Analysis on THG
The Hanover Insurance Group Company 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.
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