Polymer Capital Management US LLC Invests $264,000 in The Hanover Insurance Group, Inc. (NYSE:THG)

Polymer Capital Management US LLC acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,705 shares of the insurance provider's stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in The Hanover Insurance Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,613,952 shares of the insurance provider's stock worth $558,934,000 after acquiring an additional 23,565 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of The Hanover Insurance Group by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,489,391 shares of the insurance provider's stock worth $230,349,000 after purchasing an additional 4,799 shares in the last quarter. State Street Corp raised its holdings in The Hanover Insurance Group by 0.3% in the 3rd quarter. State Street Corp now owns 1,239,701 shares of the insurance provider's stock worth $183,612,000 after purchasing an additional 3,780 shares during the period. Franklin Resources Inc. lifted its position in The Hanover Insurance Group by 28.6% during the fourth quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider's stock valued at $188,363,000 after purchasing an additional 270,491 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in The Hanover Insurance Group by 15.7% during the fourth quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider's stock valued at $148,297,000 after purchasing an additional 130,054 shares during the period. Hedge funds and other institutional investors own 86.61% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on THG shares. Barclays raised The Hanover Insurance Group to a "hold" rating in a research note on Friday, January 24th. Morgan Stanley lifted their price target on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. BMO Capital Markets increased their price objective on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Piper Sandler lifted their target price on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of The Hanover Insurance Group from $179.00 to $171.00 and set a "market perform" rating for the company in a report on Wednesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $178.00.

Insider Buying and Selling

In related news, CEO John C. Roche sold 301 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now owns 124,414 shares of the company's stock, valued at approximately $21,772,450. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

The Hanover Insurance Group Price Performance

THG stock traded up $0.03 during mid-day trading on Friday, hitting $156.07. The company had a trading volume of 273,085 shares, compared to its average volume of 200,155. The company has a 50-day moving average price of $164.96 and a 200 day moving average price of $158.33. The Hanover Insurance Group, Inc. has a 12-month low of $119.66 and a 12-month high of $176.16. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 13.35 and a beta of 0.47. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, topping analysts' consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 30.80%.

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.