HighTower Advisors LLC Has $1.70 Million Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

HighTower Advisors LLC boosted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 82.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,500 shares of the insurance provider's stock after acquiring an additional 5,194 shares during the period. HighTower Advisors LLC's holdings in The Hanover Insurance Group were worth $1,702,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of THG. International Assets Investment Management LLC boosted its position in shares of The Hanover Insurance Group by 14,711.0% during the 3rd quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider's stock valued at $81,823,000 after purchasing an additional 548,720 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in The Hanover Insurance Group by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider's stock valued at $219,883,000 after buying an additional 143,339 shares during the last quarter. Point72 Asset Management L.P. bought a new position in The Hanover Insurance Group in the 2nd quarter valued at $14,684,000. AQR Capital Management LLC boosted its stake in The Hanover Insurance Group by 116.7% in the second quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider's stock valued at $14,150,000 after acquiring an additional 61,738 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in The Hanover Insurance Group in the second quarter worth $4,284,000. 86.61% of the stock is owned by institutional investors.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 6,114 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $162.36, for a total transaction of $992,669.04. Following the transaction, the executive vice president now owns 54,091 shares of the company's stock, valued at $8,782,214.76. This represents a 10.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders sold 30,551 shares of company stock worth $4,781,935. Company insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on THG. JMP Securities boosted their target price on The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 31st. Morgan Stanley initiated coverage on shares of The Hanover Insurance Group in a report on Thursday, December 5th. They issued an "equal weight" rating and a $170.00 price objective for the company. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 target price on the stock. in a research report on Thursday, November 21st. Piper Sandler lifted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, Bank of America boosted their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Four 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.com, The Hanover Insurance Group presently has an average rating of "Moderate Buy" and an average target price of $173.29.

The Hanover Insurance Group Trading Up 0.4 %

Shares of THG traded up $0.69 during midday trading on Monday, reaching $154.85. The company had a trading volume of 185,853 shares, compared to its average volume of 175,505. The firm has a 50 day simple moving average of $156.09 and a 200-day simple moving average of $142.37. The stock has a market cap of $5.58 billion, a PE ratio of 15.40 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The Hanover Insurance Group, Inc. has a 1-year low of $119.36 and a 1-year high of $166.13.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, topping the consensus estimate of $2.65 by $0.40. The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The Hanover Insurance Group's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. Research analysts forecast that The Hanover Insurance Group, Inc. will post 11.41 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, December 13th. This is a boost from The Hanover Insurance Group's previous quarterly dividend of $0.85. The Hanover Insurance Group's dividend payout ratio is 35.71%.

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.