The Hanover Insurance Group, Inc. (NYSE:THG) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 24.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,897 shares of the insurance provider's stock after selling 5,598 shares during the period. Amalgamated Bank's holdings in The Hanover Insurance Group were worth $2,503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lowe Brockenbrough & Co. Inc. boosted its stake in The Hanover Insurance Group by 0.6% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider's stock valued at $2,176,000 after acquiring an additional 91 shares during the last quarter. Congress Asset Management Co. increased its stake in The Hanover Insurance Group by 14.1% during the 3rd quarter. Congress Asset Management Co. now owns 32,341 shares of the insurance provider's stock valued at $4,790,000 after buying an additional 3,988 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of The Hanover Insurance Group by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 13,158 shares of the insurance provider's stock valued at $1,949,000 after purchasing an additional 299 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of The Hanover Insurance Group by 2.3% during the 3rd quarter. New York State Teachers Retirement System now owns 47,963 shares of the insurance provider's stock valued at $7,104,000 after purchasing an additional 1,082 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of The Hanover Insurance Group during the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 86.61% of the company's stock.

The Hanover Insurance Group Price Performance

THG stock traded up $0.28 during midday trading on Tuesday, reaching $162.83. The company had a trading volume of 34,656 shares, compared to its average volume of 174,406. The Hanover Insurance Group, Inc. has a 1-year low of $113.32 and a 1-year high of $164.04. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50 day moving average price of $149.18 and a 200-day moving average price of $137.59. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 16.13 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm earned $0.19 earnings per share. The firm's quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts expect that The Hanover Insurance Group, Inc. will post 11.29 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid 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 dividend yield of 2.09%. The Hanover Insurance Group's payout ratio is 33.73%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Bank of America lifted their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. JMP Securities raised their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. Oppenheimer lifted their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $173.40.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $45,000.00. Following the sale, the executive vice president now owns 89,733 shares of the company's stock, valued at $13,459,950. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey M. Farber sold 300 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $45,000.00. Following the completion of the transaction, the executive vice president now owns 89,733 shares of the company's stock, valued at $13,459,950. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,303 shares of company stock valued at $4,372,203. 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.