Congress Asset Management Co. Purchases 3,988 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Congress Asset Management Co. raised its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 14.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 32,341 shares of the insurance provider’s stock after buying an additional 3,988 shares during the period. Congress Asset Management Co.’s holdings in The Hanover Insurance Group were worth $4,790,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of THG. Point72 Hong Kong Ltd acquired a new stake in The Hanover Insurance Group in the second quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of The Hanover Insurance Group in the 3rd quarter worth $26,000. 1620 Investment Advisors Inc. purchased a new position in The Hanover Insurance Group during the 2nd quarter worth $42,000. GHP Investment Advisors Inc. raised its stake in The Hanover Insurance Group by 64.9% in the second quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock valued at $54,000 after buying an additional 168 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in The Hanover Insurance Group by 35.4% in the third quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 109 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Trading Down 0.3 %

NYSE THG opened at $147.90 on Friday. The Hanover Insurance Group, Inc. has a 1 year low of $112.22 and a 1 year high of $155.84. 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 company has a market capitalization of $5.32 billion, a PE ratio of 14.67 and a beta of 0.69. The company has a fifty day moving average of $147.37 and a 200 day moving average of $136.32.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.40. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a return on equity of 16.09% and a net margin of 5.92%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. Research analysts forecast that The Hanover Insurance Group, Inc. will post 10.92 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.30%. The Hanover Insurance Group’s payout ratio is 33.73%.

Analysts Set New Price Targets

THG has been the topic of several recent analyst reports. Bank of America upped their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Piper Sandler raised their price target on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods boosted 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. JMP Securities raised their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Oppenheimer lifted their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.20.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 300 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the sale, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at approximately $13,459,950. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Jeffrey M. Farber sold 300 shares of The Hanover Insurance Group stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey M. Farber sold 12,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $155.08, for a total value of $1,860,960.00. Following the transaction, the executive vice president now owns 66,091 shares in the company, valued at $10,249,392.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,303 shares of company stock valued at $4,372,203 in the last 90 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.