Bridgewater Associates LP Sells 6,033 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Bridgewater Associates LP trimmed its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 13.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,863 shares of the insurance provider’s stock after selling 6,033 shares during the period. Bridgewater Associates LP’s holdings in The Hanover Insurance Group were worth $5,608,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of THG. B. Riley Wealth Advisors Inc. bought a new stake in The Hanover Insurance Group in the 1st quarter worth about $261,000. Tidal Investments LLC bought a new stake in The Hanover Insurance Group in the 1st quarter worth about $867,000. Cetera Advisors LLC bought a new stake in The Hanover Insurance Group in the 1st quarter worth about $208,000. Boston Partners increased its holdings in The Hanover Insurance Group by 111.8% in the 1st quarter. Boston Partners now owns 12,794 shares of the insurance provider’s stock worth $1,739,000 after buying an additional 6,753 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in The Hanover Insurance Group by 4.2% in the 2nd quarter. Park Avenue Securities LLC now owns 4,871 shares of the insurance provider’s stock worth $611,000 after buying an additional 198 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Janney Montgomery Scott downgraded The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target for the company. in a research note on Thursday, November 21st. Keefe, Bruyette & Woods boosted their price target on The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Bank of America boosted 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. Oppenheimer boosted their price target on 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. Finally, Piper Sandler boosted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $173.83.

Insider Buying and Selling

In other news, EVP Jeffrey M. Farber sold 6,114 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $162.36, for a total transaction of $992,669.04. Following the sale, the executive vice president now directly owns 54,091 shares of the company’s stock, valued at $8,782,214.76. This represents a 10.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 30,551 shares of company stock valued at $4,781,935. Corporate insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Trading Up 0.5 %

Shares of NYSE:THG opened at $165.01 on Friday. The stock has a 50 day moving average of $153.40 and a 200 day moving average of $140.27. The company has a market cap of $5.95 billion, a PE ratio of 16.37 and a beta of 0.70. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The Hanover Insurance Group, Inc. has a 12-month low of $119.36 and a 12-month high of $166.13.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a yield of 2.06%. The Hanover Insurance Group’s dividend payout ratio is presently 33.73%.

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.