Wedge Capital Management L L P NC Has $5.83 Million Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Wedge Capital Management L L P NC reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 27.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,387 shares of the insurance provider’s stock after selling 15,155 shares during the quarter. Wedge Capital Management L L P NC owned about 0.11% of The Hanover Insurance Group worth $5,834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of THG. Vanguard Group Inc. grew its holdings in shares of The Hanover Insurance Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,623,766 shares of the insurance provider’s stock valued at $439,998,000 after buying an additional 13,030 shares during the period. Massachusetts Financial Services Co. MA grew its stake in The Hanover Insurance Group by 5.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,341,253 shares of the insurance provider’s stock valued at $168,247,000 after acquiring an additional 70,161 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of The Hanover Insurance Group by 1.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,008,866 shares of the insurance provider’s stock worth $137,377,000 after acquiring an additional 16,040 shares in the last quarter. American Century Companies Inc. raised its position in shares of The Hanover Insurance Group by 4.3% during the second quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider’s stock worth $100,607,000 after purchasing an additional 33,249 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of The Hanover Insurance Group by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider’s stock valued at $100,111,000 after purchasing an additional 30,536 shares during the period. 86.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

THG has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JMP Securities boosted their price objective on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the company a “market outperform” rating in a research report on Thursday, August 1st. Bank of America increased their target price 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. Finally, Keefe, Bruyette & Woods upped their price objective on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $160.20.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $147.72 on Tuesday. The company has a fifty day moving average price of $142.83 and a two-hundred day moving average price of $134.63. The Hanover Insurance Group, Inc. has a one year low of $112.22 and a one year high of $150.95. The stock has a market cap of $5.31 billion, a P/E ratio of 33.12 and a beta of 0.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, hitting analysts’ consensus estimates of $1.88. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company posted ($1.91) earnings per share. The Hanover Insurance Group’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will post 10.99 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.85 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.30%. The Hanover Insurance Group’s dividend payout ratio is currently 76.23%.

Insider Activity

In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total transaction of $252,889.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey M. Farber sold 300 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the completion of the transaction, the executive vice president now owns 89,733 shares in the company, valued at $13,459,950. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,352 shares of company stock valued at $1,766,623 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

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.