Bank of New York Mellon Corp Has $61.16 Million Position in The Hanover Insurance Group, Inc. $THG

Bank of New York Mellon Corp boosted its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 360,040 shares of the insurance provider’s stock after purchasing an additional 14,641 shares during the quarter. Bank of New York Mellon Corp’s holdings in The Hanover Insurance Group were worth $61,160,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of The Hanover Insurance Group by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 82,886 shares of the insurance provider’s stock valued at $14,418,000 after buying an additional 252 shares during the period. Envestnet Asset Management Inc. boosted its holdings in The Hanover Insurance Group by 7.3% in the first quarter. Envestnet Asset Management Inc. now owns 112,632 shares of the insurance provider’s stock worth $19,592,000 after acquiring an additional 7,661 shares in the last quarter. M&T Bank Corp grew its stake in The Hanover Insurance Group by 8.5% in the first quarter. M&T Bank Corp now owns 3,781 shares of the insurance provider’s stock valued at $658,000 after acquiring an additional 297 shares during the period. Cerity Partners LLC increased its holdings in shares of The Hanover Insurance Group by 33.4% during the first quarter. Cerity Partners LLC now owns 10,736 shares of the insurance provider’s stock valued at $1,868,000 after acquiring an additional 2,687 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in shares of The Hanover Insurance Group by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,632 shares of the insurance provider’s stock worth $1,502,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Up 1.5%

THG opened at $179.51 on Monday. The Hanover Insurance Group, Inc. has a fifty-two week low of $145.17 and a fifty-two week high of $186.46. The firm has a market capitalization of $6.39 billion, a P/E ratio of 10.38 and a beta of 0.44. The company’s 50-day moving average is $176.51 and its 200 day moving average is $171.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.37 and a quick ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $5.09 EPS for the quarter, beating the consensus estimate of $3.79 by $1.30. The Hanover Insurance Group had a net margin of 9.71% and a return on equity of 22.43%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $3.05 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, September 12th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 20.82%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on THG. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. JMP Securities set a $205.00 price objective on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Morgan Stanley boosted their target price on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price target on The Hanover Insurance Group from $198.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.83.

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.