Pullen Investment Management LLC Raises Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Pullen Investment Management LLC boosted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 84.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,172 shares of the insurance provider’s stock after buying an additional 3,738 shares during the quarter. Pullen Investment Management LLC’s holdings in The Hanover Insurance Group were worth $1,210,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in THG. Massachusetts Financial Services Co. MA boosted its position in shares of The Hanover Insurance Group by 5.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,341,253 shares of the insurance provider’s stock worth $168,247,000 after purchasing an additional 70,161 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of The Hanover Insurance Group by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider’s stock worth $147,667,000 after buying an additional 4,717 shares during the period. American Century Companies Inc. grew its stake in shares of The Hanover Insurance Group by 4.3% in the second quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider’s stock valued at $100,607,000 after buying an additional 33,249 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of The Hanover Insurance Group by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider’s stock valued at $100,111,000 after buying an additional 30,536 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of The Hanover Insurance Group by 14,711.0% in the 3rd quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider’s stock valued at $81,823,000 after buying an additional 548,720 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Down 2.0 %

THG stock opened at $147.82 on Friday. The Hanover Insurance Group, Inc. has a fifty-two week low of $112.22 and a fifty-two week high of $155.84. The company’s 50 day moving average price is $146.22 and its 200 day moving average price is $135.81. 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 firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 33.14 and a beta of 0.69.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.88. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned ($1.91) EPS. On average, equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 10.99 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.85 per share. 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 related news, SVP Warren E. Barnes sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the transaction, the senior vice president now directly owns 3,013 shares of the company’s stock, valued at $416,547.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Warren E. Barnes sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $138.25, for a total transaction of $69,125.00. Following the completion of the sale, the senior vice president now owns 3,013 shares in the company, valued at approximately $416,547.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey M. Farber sold 12,000 shares of the company’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 completion of the transaction, the executive vice president now owns 66,091 shares of the company’s stock, valued at approximately $10,249,392.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,303 shares of company stock worth $4,372,203. 2.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Piper Sandler increased their target price on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Bank of America raised their price target 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.20.

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.