C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in The Hanover Insurance Group, Inc. (NYSE:THG)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,942 shares of the insurance provider’s stock, valued at approximately $1,074,000.

A number of other institutional investors have also recently made changes to their positions in THG. True Wealth Design LLC bought a new position in The Hanover Insurance Group in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new position in shares of The Hanover Insurance Group in the third quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of The Hanover Insurance Group during the third quarter valued at $30,000. Eagle Bay Advisors LLC increased its holdings in The Hanover Insurance Group by 502.1% in the 4th quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock worth $44,000 after buying an additional 236 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in The Hanover Insurance Group by 226.0% in the 4th quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider’s stock worth $52,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Price Performance

NYSE THG opened at $163.91 on Friday. The business’s fifty day moving average is $155.61 and its 200 day moving average is $150.76. The Hanover Insurance Group, Inc. has a fifty-two week low of $119.66 and a fifty-two week high of $166.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $5.91 billion, a PE ratio of 14.02 and a beta of 0.72.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. Sell-side analysts predict that The Hanover Insurance Group, Inc. will post 14.11 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.90 dividend. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, December 13th. The Hanover Insurance Group’s dividend payout ratio is presently 30.80%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on THG shares. BMO Capital Markets raised their price target on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. JMP Securities lifted their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Oppenheimer boosted their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler raised their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upped their price objective on The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Hold” and an average target price of $175.25.

The Hanover Insurance Group Company 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.