Riverwater Partners LLC Acquires Shares of 11,130 The Hanover Insurance Group, Inc. (NYSE:THG)

Riverwater Partners LLC acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,130 shares of the insurance provider's stock, valued at approximately $1,641,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lecap Asset Management Ltd. grew its stake in The Hanover Insurance Group by 2.0% in the 3rd quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider's stock valued at $622,000 after buying an additional 84 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in The Hanover Insurance Group by 4.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider's stock valued at $303,000 after buying an additional 97 shares during the last quarter. Signaturefd LLC grew its stake in shares of The Hanover Insurance Group by 8.7% in the second quarter. Signaturefd LLC now owns 1,336 shares of the insurance provider's stock worth $168,000 after purchasing an additional 107 shares during the last quarter. UMB Bank n.a. lifted its holdings in The Hanover Insurance Group by 35.4% in the third quarter. UMB Bank n.a. now owns 417 shares of the insurance provider's stock worth $62,000 after buying an additional 109 shares during the period. Finally, Blue Trust Inc. boosted its stake in The Hanover Insurance Group by 20.7% during the second quarter. Blue Trust Inc. now owns 753 shares of the insurance provider's stock worth $103,000 after acquiring an additional 129 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Up 0.4 %

Shares of NYSE:THG traded up $0.61 during trading on Thursday, reaching $150.97. The stock had a trading volume of 113,413 shares, compared to its average volume of 173,509. The Hanover Insurance Group, Inc. has a one year low of $112.22 and a one year high of $155.84. The firm's 50-day simple moving average is $145.96 and its 200 day simple moving average is $135.67. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.43 billion, a P/E ratio of 33.85 and a beta of 0.69.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company earned ($1.91) earnings per share. The Hanover Insurance Group's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research 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 was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.25%. The Hanover Insurance Group's dividend payout ratio (DPR) is 76.23%.

Analyst Ratings Changes

Several brokerages have recently weighed in on THG. Bank of America raised their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods increased their target price on 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. JMP Securities restated a "market outperform" rating and set a $160.00 price objective on shares of The Hanover Insurance Group in a research report on Tuesday, October 15th. Finally, Piper Sandler increased 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 note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.20.

Insiders Place Their Bets

In related news, EVP Jeffrey M. Farber sold 12,000 shares of the business's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the transaction, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the sale, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The disclosure for this sale can be found here. Insiders sold 29,303 shares of company stock worth $4,372,203 in the last 90 days. Corporate 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.