Lighthouse Investment Partners LLC Sells 4,683 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Lighthouse Investment Partners LLC decreased its position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,459 shares of the insurance provider's stock after selling 4,683 shares during the period. Lighthouse Investment Partners LLC owned 0.20% of The Hanover Insurance Group worth $8,838,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in The Hanover Insurance Group by 116.7% during the second quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider's stock worth $14,150,000 after buying an additional 61,738 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in The Hanover Insurance Group during the second quarter worth about $25,000. Squarepoint Ops LLC bought a new position in The Hanover Insurance Group during the second quarter worth about $1,673,000. Cubist Systematic Strategies LLC bought a new position in The Hanover Insurance Group during the second quarter worth about $4,284,000. Finally, Bank of Montreal Can boosted its holdings in The Hanover Insurance Group by 48.0% during the second quarter. Bank of Montreal Can now owns 11,843 shares of the insurance provider's stock worth $1,488,000 after buying an additional 3,840 shares during the last quarter. Institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Down 0.1 %

The Hanover Insurance Group stock traded down $0.10 during midday trading on Friday, reaching $146.96. The stock had a trading volume of 144,706 shares, compared to its average volume of 174,503. The firm's fifty day simple moving average is $140.00 and its 200-day simple moving average is $133.22. The Hanover Insurance Group, Inc. has a 1-year low of $108.03 and a 1-year high of $150.95. The stock has a market capitalization of $5.28 billion, a P/E ratio of 32.95 and a beta of 0.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.40.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its 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 business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The Hanover Insurance Group's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.91) EPS. As a group, analysts expect that The Hanover Insurance Group, Inc. will post 10.99 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, September 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is 76.23%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total transaction of $180,132.00. Following the transaction, the executive vice president now owns 85,983 shares of the company's stock, valued at approximately $12,906,908.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jeffrey M. Farber sold 300 shares of the business's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total transaction of $45,000.00. Following the transaction, the executive vice president now directly owns 89,733 shares of the company's stock, valued at approximately $13,459,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey M. Farber sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total value of $180,132.00. Following the transaction, the executive vice president now directly owns 85,983 shares in the company, valued at $12,906,908.13. The disclosure for this sale can be found here. Insiders have sold 12,352 shares of company stock valued at $1,766,623 in the last 90 days. 2.40% of the stock is currently owned by insiders.

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.