The Hanover Insurance Group, Inc. (NYSE:THG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 358,414 shares of the insurance provider's stock after selling 117,880 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.00% of The Hanover Insurance Group worth $44,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THG. Retirement Systems of Alabama grew its position in shares of The Hanover Insurance Group by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 44,790 shares of the insurance provider's stock worth $5,438,000 after purchasing an additional 147 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of The Hanover Insurance Group by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 340,725 shares of the insurance provider's stock valued at $41,371,000 after purchasing an additional 10,408 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of The Hanover Insurance Group in the fourth quarter worth about $91,000. Access Investment Management LLC purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter worth about $258,000. Finally, Dimensional Fund Advisors LP boosted its stake in The Hanover Insurance Group by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 760,775 shares of the insurance provider's stock valued at $92,374,000 after buying an additional 14,609 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Trading Up 2.1 %

THG traded up $3.01 during trading hours on Monday, reaching $146.99. 293,700 shares of the company's stock traded hands, compared to its average volume of 172,087. The firm has a 50-day moving average price of $132.23 and a 200 day moving average price of $131.26. The firm has a market capitalization of $5.28 billion, a PE ratio of 32.96 and a beta of 0.68. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $147.19.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, hitting analysts' consensus estimates of $1.88. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The business's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted ($1.91) earnings per share. As a group, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 10.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. JMP Securities upped their price objective on The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a "market outperform" rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods upped their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a "market perform" rating in a research note on Tuesday, August 13th. Piper Sandler boosted their target price on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, Bank of America lowered their price target on shares of The Hanover Insurance Group from $161.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $157.80.

Insider Activity

In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 500 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $138.25, for a total transaction of $69,125.00. Following the transaction, the senior vice president now directly owns 3,013 shares in the company, valued at approximately $416,547.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $138.25, for a total transaction of $69,125.00. Following the transaction, the senior vice president now directly owns 3,013 shares in the company, valued at approximately $416,547.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathy S. Lane sold 1,884 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total transaction of $252,889.32. The disclosure for this sale can be found here. Insiders own 2.40% of the company's stock.

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.