Victory Capital Management Inc. Sells 106,630 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Victory Capital Management Inc. reduced its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 801,282 shares of the insurance provider's stock after selling 106,630 shares during the period. Victory Capital Management Inc. owned approximately 2.22% of The Hanover Insurance Group worth $118,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in THG. International Assets Investment Management LLC lifted its stake in The Hanover Insurance Group by 14,711.0% during the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider's stock valued at $81,823,000 after buying an additional 548,720 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of The Hanover Insurance Group during the second quarter valued at approximately $14,684,000. Massachusetts Financial Services Co. MA lifted its position in shares of The Hanover Insurance Group by 5.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,341,253 shares of the insurance provider's stock valued at $168,247,000 after acquiring an additional 70,161 shares in the last quarter. AQR Capital Management LLC boosted its stake in The Hanover Insurance Group by 116.7% in the 2nd quarter. AQR Capital Management LLC now owns 114,643 shares of the insurance provider's stock worth $14,150,000 after purchasing an additional 61,738 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in The Hanover Insurance Group during the 2nd quarter worth approximately $4,284,000. 86.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

The Hanover Insurance Group Stock Down 0.9 %

NYSE THG traded down $1.48 during trading on Wednesday, reaching $162.56. The company's stock had a trading volume of 170,811 shares, compared to its average volume of 175,145. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5.86 billion, a PE ratio of 16.13 and a beta of 0.70. The Hanover Insurance Group, Inc. has a 1-year low of $113.85 and a 1-year high of $164.67. The business has a 50-day moving average price of $149.82 and a 200-day moving average price of $138.01.

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

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.85 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.09%. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 33.73%.

Insiders Place Their Bets

In other news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Kathy S. Lane sold 1,884 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey M. Farber sold 6,114 shares of the business's 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 directly owns 54,091 shares of the company's stock, valued at approximately $8,782,214.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,303 shares of company stock valued at $6,306,926 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

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.