AMG National Trust Bank Invests $673,000 in The Hanover Insurance Group, Inc. (NYSE:THG)

AMG National Trust Bank acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,366 shares of the insurance provider's stock, valued at approximately $673,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Everhart Financial Group Inc. raised its holdings in shares of The Hanover Insurance Group by 7.3% in the 2nd quarter. Everhart Financial Group Inc. now owns 2,676 shares of the insurance provider's stock valued at $336,000 after purchasing an additional 182 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at about $42,000. First Citizens Bank & Trust Co. bought a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at about $202,000. Leeward Investments LLC MA raised its holdings in shares of The Hanover Insurance Group by 26.6% in the 2nd quarter. Leeward Investments LLC MA now owns 153,973 shares of the insurance provider's stock valued at $19,314,000 after purchasing an additional 32,338 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of The Hanover Insurance Group by 1.5% in the 2nd quarter. Raymond James & Associates now owns 10,048 shares of the insurance provider's stock valued at $1,260,000 after purchasing an additional 152 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Stock Performance

NYSE:THG traded up $1.72 during trading hours on Friday, hitting $137.29. 119,065 shares of the company were exchanged, compared to its average volume of 170,822. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 30.78 and a beta of 0.68. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $139.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.39 and a quick ratio of 0.39. The company's 50 day moving average price is $129.91 and its 200-day moving average price is $130.91.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The Hanover Insurance Group's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.91) EPS. As a group, research analysts forecast that The Hanover Insurance Group, Inc. will post 10.53 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 76.23%.

Insider Activity

In other news, Director Kathy S. Lane sold 1,884 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on THG. Oppenheimer boosted their price target on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, May 3rd. JMP Securities lifted their price objective on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 13th. Bank of America cut their price objective on shares of The Hanover Insurance Group from $161.00 to $158.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 6th. Finally, Piper Sandler lifted their price objective on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.50.

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.