Crossmark Global Holdings Inc. Grows Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Crossmark Global Holdings Inc. boosted its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 47.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,383 shares of the insurance provider’s stock after buying an additional 1,092 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in The Hanover Insurance Group were worth $501,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in shares of The Hanover Insurance Group by 124.7% during the 1st quarter. SG Americas Securities LLC now owns 3,642 shares of the insurance provider’s stock valued at $496,000 after buying an additional 2,021 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in The Hanover Insurance Group by 3.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,768 shares of the insurance provider’s stock valued at $3,100,000 after acquiring an additional 852 shares during the period. Edgestream Partners L.P. purchased a new position in The Hanover Insurance Group in the first quarter worth about $365,000. O Shaughnessy Asset Management LLC grew its stake in shares of The Hanover Insurance Group by 4.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,227 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 97 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of The Hanover Insurance Group by 22.5% during the 1st quarter. Bessemer Group Inc. now owns 1,136 shares of the insurance provider’s stock valued at $155,000 after purchasing an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on THG. Keefe, Bruyette & Woods raised their price objective on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. JMP Securities boosted their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America lifted their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Oppenheimer upped their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued 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 $173.40.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $163.48 on Friday. The company’s 50-day moving average price is $150.50 and its 200-day moving average price is $138.47. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27. The company has a market cap of $5.89 billion, a PE ratio of 16.22 and a beta of 0.70. The Hanover Insurance Group, Inc. has a twelve month low of $116.70 and a twelve month high of $164.67.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, topping 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 firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that The Hanover Insurance Group, Inc. will post 11.29 EPS for the current fiscal 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 paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio is currently 33.73%.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 6,114 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 54,091 shares in the company, valued at $8,782,214.76. The trade was a 10.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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. In the last quarter, insiders sold 41,303 shares of company stock worth $6,306,926. 2.40% of the stock is currently owned by insiders.

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.