Janus Henderson Group PLC cut its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 29.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,931 shares of the insurance provider's stock after selling 108,243 shares during the period. Janus Henderson Group PLC owned 0.70% of The Hanover Insurance Group worth $37,611,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in THG. International Assets Investment Management LLC increased its holdings in The Hanover Insurance Group by 14,711.0% in the third quarter. International Assets Investment Management LLC now owns 552,450 shares of the insurance provider's stock worth $81,823,000 after purchasing an additional 548,720 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in The Hanover Insurance Group by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider's stock worth $219,883,000 after buying an additional 143,339 shares during the period. Point72 Asset Management L.P. bought a new position in The Hanover Insurance Group in the second quarter worth approximately $14,684,000. AQR Capital Management LLC increased its holdings in shares of The Hanover Insurance Group by 116.7% during 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 in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of The Hanover Insurance Group during the second quarter worth approximately $4,284,000. Institutional investors and hedge funds own 86.61% of the company's stock.
A number of analysts have commented on THG shares. Oppenheimer boosted their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Piper Sandler raised their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Janney Montgomery Scott downgraded The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 price target for the company. in a report on Thursday, November 21st. JMP Securities increased their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a "market outperform" rating in a report on Thursday, October 31st. Finally, 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. Four equities 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.29.
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In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 1,200 shares of the business's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $150.11, for a total transaction of $180,132.00. Following the sale, the executive vice president now owns 85,983 shares of the company's stock, valued at $12,906,908.13. The trade was a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 30,551 shares of company stock worth $4,781,935. 2.40% of the stock is owned by corporate insiders.
Shares of THG stock opened at $160.81 on Friday. The company has a 50 day moving average of $155.29 and a 200-day moving average of $141.41. The Hanover Insurance Group, Inc. has a 12-month low of $119.36 and a 12-month high of $166.13. The firm has a market cap of $5.79 billion, a P/E ratio of 15.95 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 (NYSE:THG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. Sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 11.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.90 dividend. This is an increase from The Hanover Insurance Group's previous quarterly dividend of $0.85. The ex-dividend date is Friday, December 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.24%. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 35.71%.
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.
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