The Hanover Insurance Group, Inc. (NYSE:THG) Stock Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 24.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,414 shares of the insurance provider’s stock after selling 117,880 shares during the period. Bank of New York Mellon Corp’s holdings in The Hanover Insurance Group were worth $44,959,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in The Hanover Insurance Group during the 1st quarter valued at $31,000. Quarry LP bought a new stake in The Hanover Insurance Group during the 4th quarter valued at $34,000. 1620 Investment Advisors Inc. bought a new stake in The Hanover Insurance Group during the 2nd quarter valued at $42,000. Kapitalo Investimentos Ltda bought a new stake in The Hanover Insurance Group during the 4th quarter valued at $65,000. Finally, Principal Securities Inc. bought a new stake in The Hanover Insurance Group during the 4th quarter valued at $91,000. Institutional investors own 86.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on THG. Keefe, Bruyette & Woods lifted their target price 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 lifted their price target on The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America lowered their price target on The Hanover Insurance Group from $161.00 to $158.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, JMP Securities lifted their price target on The Hanover Insurance Group from $150.00 to $160.00 and gave the company a “market outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.80.

The Hanover Insurance Group Stock Performance

Shares of NYSE THG opened at $146.99 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 32.96 and a beta of 0.68. The stock’s fifty day simple moving average is $131.77 and its 200 day simple moving average is $131.19. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $147.19.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results 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 business had revenue of $1.54 billion for 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 company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.91) EPS. As a group, sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 10.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Warren E. Barnes sold 500 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 3,013 shares of the company’s stock, valued at $416,547.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathy S. Lane sold 1,884 shares of the firm’s 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. Insiders own 2.40% of the company’s stock.

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.