Lowe Brockenbrough & Co. Inc. Acquires 91 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Lowe Brockenbrough & Co. Inc. boosted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 14,693 shares of the insurance provider’s stock after acquiring an additional 91 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in The Hanover Insurance Group were worth $2,176,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Congress Asset Management Co. lifted its position in shares of The Hanover Insurance Group by 14.1% during the third quarter. Congress Asset Management Co. now owns 32,341 shares of the insurance provider’s stock worth $4,790,000 after purchasing an additional 3,988 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in The Hanover Insurance Group by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 13,158 shares of the insurance provider’s stock worth $1,949,000 after buying an additional 299 shares in the last quarter. New York State Teachers Retirement System boosted its position in The Hanover Insurance Group by 2.3% in the 3rd quarter. New York State Teachers Retirement System now owns 47,963 shares of the insurance provider’s stock valued at $7,104,000 after buying an additional 1,082 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group in the 3rd quarter valued at $77,000. Finally, Boston Financial Mangement LLC raised its position in shares of The Hanover Insurance Group by 6.8% during the third quarter. Boston Financial Mangement LLC now owns 2,350 shares of the insurance provider’s stock worth $348,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insider Activity

In related news, EVP Jeffrey M. Farber sold 12,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the sale, the executive vice president now directly owns 66,091 shares in the company, valued at $10,249,392.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $45,000.00. Following the sale, the executive vice president now owns 89,733 shares in the company, valued at approximately $13,459,950. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey M. Farber sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at $10,249,392.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,303 shares of company stock worth $4,372,203 over the last quarter. 2.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on THG shares. JMP Securities raised their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday. Keefe, Bruyette & Woods raised their target price on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Oppenheimer boosted their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler lifted their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America upped their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.20.

The Hanover Insurance Group Stock Down 0.3 %

Shares of NYSE:THG opened at $147.90 on Friday. The company has a 50 day moving average price of $147.37 and a two-hundred day moving average price of $136.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $5.32 billion, a PE ratio of 14.67 and a beta of 0.69. The Hanover Insurance Group, Inc. has a 52 week low of $112.22 and a 52 week high of $155.84.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.40. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a return on equity of 16.09% and a net margin of 5.92%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Analysts forecast that The Hanover Insurance Group, Inc. will post 10.92 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.30%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 33.73%.

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.