Proficio Capital Partners LLC Invests $4.90 Million in The Hanover Insurance Group, Inc. (NYSE:THG)

Proficio Capital Partners LLC acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 31,705 shares of the insurance provider’s stock, valued at approximately $4,903,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC bought a new stake in The Hanover Insurance Group during the third quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in The Hanover Insurance Group during the third quarter worth approximately $30,000. Venturi Wealth Management LLC raised its holdings in The Hanover Insurance Group by 49.5% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 90 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in The Hanover Insurance Group by 502.1% during the fourth quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 236 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in The Hanover Insurance Group by 226.0% during the fourth quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 235 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

THG has been the topic of several research reports. Janney Montgomery Scott cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target on the stock. in a report on Thursday, November 21st. BMO Capital Markets upped their price target on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the company a “market perform” rating in a research note on Monday, February 10th. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. Finally, Morgan Stanley boosted their target price on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $175.25.

The Hanover Insurance Group Trading Up 1.9 %

The Hanover Insurance Group stock opened at $169.58 on Monday. The company’s fifty day simple moving average is $159.73 and its 200-day simple moving average is $155.45. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The Hanover Insurance Group, Inc. has a 12 month low of $119.66 and a 12 month high of $173.30. The stock has a market cap of $6.09 billion, a P/E ratio of 14.51 and a beta of 0.65.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, beating the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. As a group, sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, March 14th. The Hanover Insurance Group’s dividend payout ratio is currently 30.80%.

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.