M Holdings Securities Inc. Makes New Investment in The Hanover Insurance Group, Inc. $THG

M Holdings Securities Inc. purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,447 shares of the insurance provider’s stock, valued at approximately $524,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mather Group LLC. purchased a new position in The Hanover Insurance Group during the 3rd quarter valued at about $29,000. Clearstead Trust LLC purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at about $36,000. Provenance Wealth Advisors LLC purchased a new stake in shares of The Hanover Insurance Group in the third quarter valued at about $37,000. Elevation Wealth Partners LLC grew its position in shares of The Hanover Insurance Group by 106.4% in the third quarter. Elevation Wealth Partners LLC now owns 194 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of The Hanover Insurance Group in the second quarter valued at approximately $51,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on THG shares. Oppenheimer restated an “outperform” rating and set a $260.00 price objective on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Citigroup reiterated a “market outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, October 29th. Piper Sandler cut The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a report on Wednesday, July 15th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of The Hanover Insurance Group in a research report on Friday. Finally, Jefferies Financial Group set a $248.00 price target on The Hanover Insurance Group in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.62.

Insider Activity at The Hanover Insurance Group

In related news, EVP Dennis Kerrigan sold 6,551 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the sale, the executive vice president owned 12,003 shares in the company, valued at approximately $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Willard Lee sold 9,946 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $249.14, for a total transaction of $2,477,946.44. Following the sale, the executive vice president owned 6,004 shares in the company, valued at approximately $1,495,836.56. This trade represents a 62.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,601 shares of company stock worth $4,392,292 in the last three months. Insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Price Performance

NYSE:THG opened at $250.36 on Wednesday. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 11.41 and a beta of 0.24. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average is $229.34 and its two-hundred day moving average is $202.75. The Hanover Insurance Group, Inc. has a 12-month low of $166.54 and a 12-month high of $256.74.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, October 28th. The insurance provider reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.53. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.81 billion. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.63%. During the same period in the previous year, the firm posted $5.09 earnings per share. Research analysts expect that The Hanover Insurance Group, Inc. will post 20.80 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 annualized dividend and a dividend yield of 1.5%. The Hanover Insurance Group’s dividend payout ratio is presently 18.17%.

The Hanover Insurance Group Profile

The Hanover Insurance Group, Inc. is a property and casualty insurer founded in 1852 as the Hanover Fire Insurance Company. Headquartered in Worcester, Massachusetts, it provides insurance products and services primarily in the United States. The company offers personal insurance, including coverage for homes and automobiles, as well as commercial insurance for businesses. Its commercial offerings include coverage for small and midsize businesses and specialty risks. The Hanover distributes its products mainly through independent insurance agents and brokers, working with them to serve individuals, families, and businesses.