New York State Teachers Retirement System Has $8.54 Million Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

New York State Teachers Retirement System trimmed its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,107 shares of the insurance provider’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System owned 0.14% of The Hanover Insurance Group worth $8,542,000 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. EverSource Wealth Advisors LLC grew its holdings in The Hanover Insurance Group by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock valued at $33,000 after buying an additional 102 shares in the last quarter. True Wealth Design LLC lifted its position in shares of The Hanover Insurance Group by 81.7% during the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 138 shares during the period. Versant Capital Management Inc lifted its position in shares of The Hanover Insurance Group by 331.4% during the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 232 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of The Hanover Insurance Group during the 1st quarter valued at $53,000. Finally, Jones Financial Companies Lllp lifted its position in shares of The Hanover Insurance Group by 4,675.0% during the 4th quarter. Jones Financial Companies Lllp now owns 382 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 374 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the completion of the transaction, the executive vice president owned 25,864 shares of the company’s stock, valued at $4,308,942.40. This represents a 28.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is currently owned by insiders.

The Hanover Insurance Group Price Performance

Shares of THG opened at $163.98 on Friday. The Hanover Insurance Group, Inc. has a 12-month low of $123.17 and a 12-month high of $178.68. The business has a 50-day simple moving average of $168.80 and a two-hundred day simple moving average of $163.42. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The stock has a market cap of $5.89 billion, a PE ratio of 13.65 and a beta of 0.44.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.29. The Hanover Insurance Group had a return on equity of 18.23% and a net margin of 6.98%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.90 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.20%. The Hanover Insurance Group’s payout ratio is presently 29.98%.

Analysts Set New Price Targets

THG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods upped their price objective on The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Morgan Stanley upped their price objective on The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. JMP Securities upped their price objective on The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 1st. Finally, Piper Sandler upped their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $179.50.

About The Hanover Insurance Group

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.