Victory Capital Management Inc. Sells 161,834 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Victory Capital Management Inc. decreased its position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 907,912 shares of the insurance provider's stock after selling 161,834 shares during the quarter. Victory Capital Management Inc. owned 2.53% of The Hanover Insurance Group worth $113,888,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in The Hanover Insurance Group during the first quarter worth $31,000. Quarry LP bought a new stake in The Hanover Insurance Group during the fourth quarter worth $34,000. 1620 Investment Advisors Inc. acquired a new stake in The Hanover Insurance Group in the second quarter valued at $42,000. Kapitalo Investimentos Ltda acquired a new stake in The Hanover Insurance Group in the fourth quarter valued at $65,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of The Hanover Insurance Group by 64.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 747 shares of the insurance provider's stock valued at $102,000 after acquiring an additional 293 shares during the period. 86.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 8,468 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $144.01, for a total value of $1,219,476.68. Following the completion of the transaction, the executive vice president now owns 36,281 shares in the company, valued at $5,224,826.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other The Hanover Insurance Group news, EVP Richard W. Lavey sold 8,468 shares of the company's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $144.01, for a total value of $1,219,476.68. Following the sale, the executive vice president now owns 36,281 shares in the company, valued at $5,224,826.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Warren E. Barnes sold 500 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the sale, the senior vice president now owns 3,013 shares in the company, valued at approximately $416,547.25. The disclosure for this sale can be found here. Insiders sold a total of 10,852 shares of company stock worth $1,541,491 in the last quarter. 2.40% of the stock is owned by company insiders.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock traded down $0.43 on Friday, reaching $145.56. 165,855 shares of the company traded hands, compared to its average volume of 172,933. 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 firm has a market capitalization of $5.23 billion, a PE ratio of 32.64 and a beta of 0.70. The Hanover Insurance Group, Inc. has a 52 week low of $103.82 and a 52 week high of $149.25. The company has a 50 day moving average of $134.07 and a 200 day moving average of $131.60.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 12.42% and a net margin of 4.44%. The company's revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.91) EPS. Equities analysts forecast that The Hanover Insurance Group, Inc. will post 10.85 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, September 13th. The Hanover Insurance Group's dividend payout ratio is currently 76.23%.

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.