Martingale Asset Management L P Boosts Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Martingale Asset Management L P lifted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 818.6% during the 4th quarter, HoldingsChannel reports. The firm owned 16,554 shares of the insurance provider’s stock after acquiring an additional 14,752 shares during the period. Martingale Asset Management L P’s holdings in The Hanover Insurance Group were worth $2,560,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of The Hanover Insurance Group in the third quarter worth $30,000. EverSource Wealth Advisors LLC boosted its stake in The Hanover Insurance Group by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 102 shares during the period. Venturi Wealth Management LLC grew its stake in The Hanover Insurance Group by 49.5% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 90 shares in the last quarter. Eagle Bay Advisors LLC boosted its stake in The Hanover Insurance Group by 502.1% during the fourth quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock valued at $44,000 after buying an additional 236 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in The Hanover Insurance Group by 226.0% in the fourth quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock opened at $156.08 on Friday. 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, Inc. has a 52 week low of $119.66 and a 52 week high of $176.16. The firm’s 50 day moving average is $164.89 and its two-hundred day moving average is $158.19. The firm has a market capitalization of $5.61 billion, a P/E ratio of 13.35 and a beta of 0.47.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.90 per share. 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 30.80%.

Wall Street Analyst Weigh In

THG has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Morgan Stanley lifted their price objective on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods cut their price objective on shares of The Hanover Insurance Group from $179.00 to $171.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets increased their price objective on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $178.00.

Insider Activity at The Hanover Insurance Group

In other news, CEO John C. Roche sold 301 shares of The Hanover Insurance Group stock in a transaction on Monday, March 31st. The stock was sold at an average price of $175.00, for a total transaction 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 $21,772,450. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company 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.