Balyasny Asset Management L.P. Sells 317,821 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Balyasny Asset Management L.P. lessened its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 97.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,751 shares of the insurance provider’s stock after selling 317,821 shares during the period. Balyasny Asset Management L.P.’s holdings in The Hanover Insurance Group were worth $1,508,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position in shares of The Hanover Insurance Group by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 7,163 shares of the insurance provider’s stock worth $1,092,000 after acquiring an additional 65 shares in the last quarter. AMG National Trust Bank increased its position in shares of The Hanover Insurance Group by 0.7% during the fourth quarter. AMG National Trust Bank now owns 10,776 shares of the insurance provider’s stock worth $1,658,000 after acquiring an additional 71 shares in the last quarter. Ironwood Investment Management LLC increased its position in shares of The Hanover Insurance Group by 0.9% during the fourth quarter. Ironwood Investment Management LLC now owns 9,703 shares of the insurance provider’s stock worth $1,501,000 after acquiring an additional 85 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of 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 worth $42,000 after acquiring an additional 90 shares in the last quarter. Finally, Truist Financial Corp increased its position in shares of The Hanover Insurance Group by 4.7% during the fourth quarter. Truist Financial Corp now owns 2,025 shares of the insurance provider’s stock worth $313,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on THG. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a research report on Friday, January 24th. StockNews.com raised shares of The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley increased 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 raised their target price on shares of The Hanover Insurance Group from $171.00 to $173.00 and gave the company a “market perform” rating in a research report on Wednesday, May 7th. Finally, Piper Sandler raised their target price on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $179.50.

The Hanover Insurance Group Stock Down 0.6%

The Hanover Insurance Group stock opened at $166.52 on Wednesday. The company has a market cap of $5.98 billion, a P/E ratio of 14.24 and a beta of 0.44. The Hanover Insurance Group, Inc. has a 1-year low of $119.66 and a 1-year high of $176.16. The company has a fifty day simple moving average of $165.25 and a 200 day simple moving average of $160.58. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.29. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.55 billion. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.08 earnings per share. Research analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, March 14th. The Hanover Insurance Group’s dividend payout ratio is currently 29.98%.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, CEO John C. Roche sold 200 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $175.01, for a total value of $35,002.00. Following the completion of the sale, the chief executive officer now owns 124,278 shares in the company, valued at $21,749,892.78. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bryan J. Salvatore sold 10,526 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total transaction of $1,753,631.60. Following the sale, the executive vice president now directly owns 25,864 shares of the company’s stock, valued at $4,308,942.40. The trade was a 28.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,027 shares of company stock worth $1,841,309 over the last quarter. 2.50% of the stock is currently owned by insiders.

About The Hanover Insurance Group

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.