Raymond James Financial Inc. Invests $8.61 Million in The Hanover Insurance Group, Inc. (NYSE:THG)

Raymond James Financial Inc. bought a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 55,685 shares of the insurance provider's stock, valued at approximately $8,612,000. Raymond James Financial Inc. owned about 0.15% of The Hanover Insurance Group at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Martingale Asset Management L P grew its position in shares of The Hanover Insurance Group by 818.6% during the 4th quarter. Martingale Asset Management L P now owns 16,554 shares of the insurance provider's stock valued at $2,560,000 after buying an additional 14,752 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of The Hanover Insurance Group by 7.4% during the fourth quarter. Bank of Montreal Can now owns 9,604 shares of the insurance provider's stock valued at $1,485,000 after purchasing an additional 661 shares during the last quarter. Polymer Capital Management US LLC bought a new position in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $264,000. Cerity Partners LLC raised its position in shares of The Hanover Insurance Group by 43.3% during the 4th quarter. Cerity Partners LLC now owns 8,049 shares of the insurance provider's stock worth $1,232,000 after purchasing an additional 2,432 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of The Hanover Insurance Group in the 4th quarter worth approximately $691,000. 86.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO John C. Roche sold 200 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $175.01, for a total value of $35,002.00. Following the completion of the transaction, the chief executive officer now owns 124,278 shares of the company's stock, valued at approximately $21,749,892.78. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.

The Hanover Insurance Group Price Performance

Shares of THG traded down $2.17 during mid-day trading on Friday, hitting $161.72. The company's stock had a trading volume of 221,173 shares, compared to its average volume of 203,327. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a 50-day moving average price of $164.75 and a 200 day moving average price of $159.15. The Hanover Insurance Group, Inc. has a fifty-two week low of $119.66 and a fifty-two week high of $176.16. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 13.83 and a beta of 0.47.

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

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.23%. The Hanover Insurance Group's dividend payout ratio (DPR) is 30.80%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on THG shares. Keefe, Bruyette & Woods cut their target price on The Hanover Insurance Group from $179.00 to $171.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler boosted 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. Barclays upgraded shares of The Hanover Insurance Group to a "hold" rating in a research note on Friday, January 24th. Morgan Stanley lifted their price target on 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. Finally, StockNews.com cut The Hanover Insurance Group from a "buy" rating to a "hold" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of "Hold" and a consensus target price of $178.00.

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.