Grace & White Inc. NY Sells 1,000 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Grace & White Inc. NY lessened its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 36.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,775 shares of the insurance provider’s stock after selling 1,000 shares during the period. Grace & White Inc. NY’s holdings in The Hanover Insurance Group were worth $263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of THG. Point72 Hong Kong Ltd acquired a new position in The Hanover Insurance Group in the 2nd quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in The Hanover Insurance Group in the 3rd quarter worth about $26,000. Riverview Trust Co acquired a new position in The Hanover Insurance Group in the 1st quarter worth about $31,000. 1620 Investment Advisors Inc. acquired a new position in The Hanover Insurance Group in the 2nd quarter worth about $42,000. Finally, GHP Investment Advisors Inc. increased its holdings in 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 purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Warren E. Barnes sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the transaction, the senior vice president now owns 3,013 shares in the company, valued at $416,547.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathy S. Lane sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,303 shares of company stock worth $4,372,203. Corporate insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Trading Down 1.5 %

NYSE THG opened at $152.84 on Tuesday. The business has a 50 day simple moving average of $144.92 and a 200 day simple moving average of $135.31. The Hanover Insurance Group, Inc. has a one year low of $112.22 and a one year high of $155.84. The stock has a market capitalization of $5.49 billion, a P/E ratio of 34.27 and a beta of 0.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm posted ($1.91) earnings per share. Research analysts expect that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.85 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.22%. The Hanover Insurance Group’s payout ratio is currently 76.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of The Hanover Insurance Group in a report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Piper Sandler increased their price target on The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America increased their price target on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $160.20.

The Hanover Insurance Group 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.