Advisor Group Holdings Inc. cut its position in shares of Hanover Insurance Group Inc (NYSE:THG) by 73.9% during the second quarter, HoldingsChannel.com reports. The firm owned 5,993 shares of the insurance provider’s stock after selling 16,933 shares during the period. Advisor Group Holdings Inc.’s holdings in Hanover Insurance Group were worth $602,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in THG. Signaturefd LLC grew its position in Hanover Insurance Group by 60.5% in the second quarter. Signaturefd LLC now owns 297 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 112 shares during the period. IFP Advisors Inc grew its holdings in shares of Hanover Insurance Group by 851.7% during the second quarter. IFP Advisors Inc now owns 571 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 511 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Hanover Insurance Group by 69.2% during the second quarter. Parkside Financial Bank & Trust now owns 587 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 240 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Hanover Insurance Group during the first quarter worth $75,000. Finally, FinTrust Capital Advisors LLC bought a new stake in shares of Hanover Insurance Group during the first quarter worth $90,000. Institutional investors and hedge funds own 85.29% of the company’s stock.
Several brokerages have recently issued reports on THG. ValuEngine lowered Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 4th. Piper Sandler increased their target price on Hanover Insurance Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Zacks Investment Research lowered Hanover Insurance Group from a “buy” rating to a “sell” rating in a research note on Wednesday, September 9th. Finally, Credit Suisse Group began coverage on Hanover Insurance Group in a research note on Thursday, September 3rd. They issued a “neutral” rating and a $117.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $126.20.
NYSE:THG opened at $90.59 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50-day simple moving average of $100.56 and a 200 day simple moving average of $98.54. The company has a market cap of $3.42 billion, a PE ratio of 11.78 and a beta of 0.85. Hanover Insurance Group Inc has a 52-week low of $75.11 and a 52-week high of $144.71.
Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.13. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.13 billion. Hanover Insurance Group had a return on equity of 10.93% and a net margin of 6.39%. The business’s revenue was down 5.0% compared to the same quarter last year. During the same period last year, the company earned $1.88 earnings per share. On average, research analysts predict that Hanover Insurance Group Inc will post 7.9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.87%. Hanover Insurance Group’s payout ratio is 31.86%.
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 in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers’ compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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