Hodges Capital Management Inc. Has $7.62 Million Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Hodges Capital Management Inc. raised its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 56.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,414 shares of the insurance provider's stock after acquiring an additional 18,524 shares during the quarter. Hodges Capital Management Inc. owned about 0.14% of The Hanover Insurance Group worth $7,615,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of The Hanover Insurance Group by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider's stock worth $219,883,000 after purchasing an additional 143,339 shares during the period. State Street Corp grew its holdings in The Hanover Insurance Group by 0.3% in the 3rd quarter. State Street Corp now owns 1,239,701 shares of the insurance provider's stock valued at $183,612,000 after buying an additional 3,780 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in The Hanover Insurance Group by 0.5% during the 3rd 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. lifted its holdings in shares of The Hanover Insurance Group by 4.3% during the second quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider's stock worth $100,607,000 after buying an additional 33,249 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 30,536 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

THG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, November 7th. JMP Securities lifted their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Bank of America increased their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Janney Montgomery Scott cut The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 price objective for the company. in a report on Thursday, November 21st. Finally, Piper Sandler increased their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $173.29.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 66,091 shares of the company's stock, valued at $10,249,392.28. This represents a 15.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 30,551 shares of company stock valued at $4,781,935 in the last 90 days. 2.40% of the stock is owned by corporate insiders.

The Hanover Insurance Group Price Performance

NYSE:THG traded down $3.34 during trading hours on Friday, hitting $160.92. The company's stock had a trading volume of 204,823 shares, compared to its average volume of 172,684. The Hanover Insurance Group, Inc. has a twelve month low of $119.36 and a twelve month high of $166.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a fifty day simple moving average of $155.29 and a 200-day simple moving average of $141.51. The company has a market capitalization of $5.80 billion, a P/E ratio of 15.96 and a beta of 0.71.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 15.53%. The firm's revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. On average, analysts anticipate that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from The Hanover Insurance Group's previous quarterly dividend of $0.85. The ex-dividend date is Friday, December 13th. The Hanover Insurance Group's dividend payout ratio is presently 33.73%.

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.