Wedge Capital Management L L P NC Has $5.83 Million Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Wedge Capital Management L L P NC cut its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 27.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,387 shares of the insurance provider’s stock after selling 15,155 shares during the period. Wedge Capital Management L L P NC’s holdings in The Hanover Insurance Group were worth $5,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of The Hanover Insurance Group during the second quarter worth $25,000. Riverview Trust Co bought a new stake in The Hanover Insurance Group in the first quarter worth approximately $31,000. Quarry LP acquired a new position in shares of The Hanover Insurance Group during the 4th quarter valued at $34,000. 1620 Investment Advisors Inc. acquired a new stake in The Hanover Insurance Group in the second quarter valued at approximately $42,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of The Hanover Insurance Group by 64.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $147.72 on Tuesday. The firm’s 50 day moving average is $142.83 and its 200 day moving average is $134.63. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group, Inc. has a 12 month low of $112.22 and a 12 month high of $150.95. The stock has a market capitalization of $5.31 billion, a P/E ratio of 33.12 and a beta of 0.69.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.88. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted ($1.91) earnings per share. On average, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.85 per share. The ex-dividend date was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.30%. The Hanover Insurance Group’s dividend payout ratio is currently 76.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on THG. Bank of America raised 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. JMP Securities boosted their price objective on The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods boosted their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Finally, Piper Sandler raised their price objective on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.20.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 300 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total value of $45,000.00. Following the completion of the sale, the executive vice president now directly owns 89,733 shares in the company, valued at $13,459,950. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Jeffrey M. Farber sold 300 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the sale, the executive vice president now owns 89,733 shares of the company’s stock, valued at $13,459,950. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard W. Lavey sold 8,468 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total transaction of $1,219,476.68. Following the transaction, the executive vice president now directly owns 36,281 shares of the company’s stock, valued at $5,224,826.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,352 shares of company stock worth $1,766,623. 2.40% 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.