Massachusetts Financial Services Co. MA Purchases 70,161 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Massachusetts Financial Services Co. MA boosted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 5.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,341,253 shares of the insurance provider's stock after purchasing an additional 70,161 shares during the period. Massachusetts Financial Services Co. MA owned about 3.73% of The Hanover Insurance Group worth $168,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in The Hanover Insurance Group during the first quarter valued at approximately $31,000. Quarry LP acquired a new stake in The Hanover Insurance Group in the fourth quarter valued at approximately $34,000. 1620 Investment Advisors Inc. bought a new stake in The Hanover Insurance Group in the second quarter worth approximately $42,000. GHP Investment Advisors Inc. raised its holdings in shares of The Hanover Insurance Group by 64.9% during the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider's stock valued at $54,000 after purchasing an additional 168 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of The Hanover Insurance Group during the 4th quarter valued at $65,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kathy S. Lane sold 1,884 shares of the company'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard W. Lavey sold 8,468 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $144.01, for a total transaction of $1,219,476.68. Following the completion of the transaction, the executive vice president now directly owns 36,281 shares of the company's stock, valued at approximately $5,224,826.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,852 shares of company stock valued at $1,541,491. Insiders own 2.40% of the company's stock.

The Hanover Insurance Group Stock Performance

THG stock traded up $0.54 during mid-day trading on Wednesday, reaching $149.58. 142,435 shares of the stock traded hands, compared to its average volume of 173,574. 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 $108.03 and a 52 week high of $150.68. The business has a 50-day moving average of $137.09 and a two-hundred day moving average of $132.26. The firm has a market capitalization of $5.38 billion, a PE ratio of 33.52 and a beta of 0.70.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the prior year, the company earned ($1.91) earnings per share. The business's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will post 10.85 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, September 13th. The Hanover Insurance Group's dividend payout ratio is currently 76.23%.

Wall Street Analyst Weigh In

THG has been the subject of a number of recent research reports. Piper Sandler upped 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 report on Friday, August 2nd. JMP Securities upped 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 report on Thursday, August 1st. Bank of America decreased their price objective 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. Finally, Keefe, Bruyette & Woods upped 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 report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and an average target price of $157.80.

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.