The Hanover Insurance Group, Inc. $THG Position Increased by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC boosted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 1,027.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,156 shares of the insurance provider’s stock after purchasing an additional 22,013 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in The Hanover Insurance Group were worth $5,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in THG. Mather Group LLC. acquired a new position in The Hanover Insurance Group in the 3rd quarter valued at approximately $29,000. Clearstead Trust LLC purchased a new stake in The Hanover Insurance Group in the 2nd quarter worth approximately $36,000. Elevation Wealth Partners LLC boosted its stake in shares of The Hanover Insurance Group by 106.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 194 shares of the insurance provider’s stock valued at $42,000 after buying an additional 100 shares during the period. Root Financial Partners LLC boosted its stake in shares of The Hanover Insurance Group by 69.3% during the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after buying an additional 97 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at $51,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Trading Up 2.9%

NYSE:THG opened at $249.02 on Tuesday. The company has a market capitalization of $8.67 billion, a P/E ratio of 11.91 and a beta of 0.23. The stock’s 50 day moving average price is $226.94 and its 200 day moving average price is $200.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The Hanover Insurance Group, Inc. has a 52 week low of $166.54 and a 52 week high of $250.67.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.53. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.81 billion. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.39%. During the same period in the previous year, the company earned $5.09 earnings per share. On average, research analysts forecast that The Hanover Insurance Group, Inc. will post 20.52 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.5%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 18.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on THG shares. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target on the stock. in a report on Wednesday, July 15th. Morgan Stanley increased their price objective on The Hanover Insurance Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday. Citizens Jmp lifted their price objective on The Hanover Insurance Group from $240.00 to $250.00 and gave the company a “market outperform” rating in a research report on Thursday, October 29th. Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Citigroup restated a “market outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.00.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Dennis Kerrigan sold 6,551 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the transaction, the executive vice president owned 12,003 shares in the company, valued at approximately $2,650,142.37. This trade represents a 35.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.80% of the company’s stock.

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.