Tidal Investments LLC Has $1.07 Million Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Tidal Investments LLC grew its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 344.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,254 shares of the insurance provider’s stock after acquiring an additional 5,622 shares during the period. Tidal Investments LLC’s holdings in The Hanover Insurance Group were worth $1,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in The Hanover Insurance Group in the third quarter valued at approximately $30,000. Sanctuary Advisors LLC boosted its holdings in shares of The Hanover Insurance Group by 35.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,013 shares of the insurance provider’s stock valued at $656,000 after buying an additional 1,040 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of The Hanover Insurance Group by 15.9% in the third quarter. TD Private Client Wealth LLC now owns 1,174 shares of the insurance provider’s stock valued at $174,000 after buying an additional 161 shares in the last quarter. Geode Capital Management LLC raised its position in The Hanover Insurance Group by 2.6% during the third quarter. Geode Capital Management LLC now owns 660,272 shares of the insurance provider’s stock worth $97,816,000 after acquiring an additional 16,800 shares in the last quarter. Finally, Barclays PLC raised its position in The Hanover Insurance Group by 61.5% during the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider’s stock worth $4,022,000 after acquiring an additional 10,341 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on THG shares. Bank of America lifted their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. 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, November 1st. JMP Securities raised their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Morgan Stanley initiated coverage on The Hanover Insurance Group in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 target price on the stock. Finally, Oppenheimer lifted their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $153.49 on Friday. The Hanover Insurance Group, Inc. has a twelve month low of $119.36 and a twelve month high of $166.13. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $156.58 and its 200 day simple moving average is $142.81. The firm has a market capitalization of $5.53 billion, a PE ratio of 15.23 and a beta of 0.71.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.40. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. On average, analysts anticipate that The Hanover Insurance Group, Inc. will post 11.41 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.90 per share. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date is Friday, December 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.35%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 35.71%.

Insider Buying and Selling

In related news, EVP Jeffrey M. Farber sold 4,800 shares of The Hanover Insurance Group stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $150.41, for a total transaction of $721,968.00. Following the sale, the executive vice president now directly owns 80,790 shares in the company, valued at $12,151,623.90. This trade represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 29,051 shares of company stock worth $4,556,803 in the last 90 days. Insiders own 2.40% of the company’s stock.

The Hanover Insurance Group 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.