Jacobs Levy Equity Management Inc. Increases Stock Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Jacobs Levy Equity Management Inc. boosted its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 3.1% during the 1st quarter, Holdings Channel reports. The firm owned 282,302 shares of the insurance provider’s stock after buying an additional 8,392 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in The Hanover Insurance Group were worth $38,441,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its stake in The Hanover Insurance Group by 55.6% in the 4th quarter. UMB Bank n.a. now owns 235 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 84 shares in the last quarter. Riverview Trust Co purchased a new stake in The Hanover Insurance Group in the 1st quarter worth $31,000. Quarry LP purchased a new stake in The Hanover Insurance Group in the 4th quarter worth $34,000. Baystate Wealth Management LLC lifted its stake in The Hanover Insurance Group by 4,400.0% in the 4th quarter. Baystate Wealth Management LLC now owns 360 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 352 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in The Hanover Insurance Group in the 4th quarter worth $65,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Trading Up 3.0 %

The Hanover Insurance Group stock traded up $4.05 during midday trading on Tuesday, reaching $138.86. The stock had a trading volume of 179,135 shares, compared to its average volume of 173,228. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $139.25. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 30.89 and a beta of 0.68. The company has a fifty day moving average of $127.89 and a 200 day moving average of $130.17.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.47. The Hanover Insurance Group had a net margin of 2.67% and a return on equity of 7.00%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. On average, analysts anticipate that The Hanover Insurance Group, Inc. will post 10.74 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.85 dividend. The ex-dividend date was Thursday, June 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.45%. The Hanover Insurance Group’s dividend payout ratio is currently 76.23%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,119 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Willard T. Lee sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total transaction of $135,940.00. Following the transaction, the executive vice president now directly owns 4,398 shares in the company, valued at $597,864.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jane D. Carlin sold 1,119 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $132.25, for a total transaction of $147,987.75. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on THG shares. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of The Hanover Insurance Group in a research report on Monday, April 15th. Keefe, Bruyette & Woods upped their target price on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler restated an “overweight” rating and set a $147.00 target price on shares of The Hanover Insurance Group in a research report on Monday, April 1st. Finally, Oppenheimer upped their target price on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.00.

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.