American Century Companies Inc. Grows Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

American Century Companies Inc. lifted its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 802,033 shares of the insurance provider’s stock after purchasing an additional 33,249 shares during the quarter. American Century Companies Inc. owned 2.23% of The Hanover Insurance Group worth $100,607,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in The Hanover Insurance Group in the first quarter worth approximately $31,000. Quarry LP bought a new stake in The Hanover Insurance Group in the fourth quarter worth $34,000. 1620 Investment Advisors Inc. purchased a new stake in The Hanover Insurance Group during the second quarter valued at about $42,000. Kapitalo Investimentos Ltda purchased a new stake in The Hanover Insurance Group during the fourth quarter valued at about $65,000. Finally, Principal Securities Inc. bought a new position in shares of The Hanover Insurance Group during the fourth quarter valued at about $91,000. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Price Performance

Shares of The Hanover Insurance Group stock opened at $146.19 on Friday. The business has a 50 day moving average of $135.68 and a 200 day moving average of $131.94. The Hanover Insurance Group, Inc. has a 52 week low of $108.03 and a 52 week high of $149.47. The company has a market cap of $5.26 billion, a PE ratio of 32.78 and a beta of 0.70. 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 Hanover Insurance Group (NYSE:THG) last posted 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 firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted ($1.91) EPS. As a group, equities research analysts forecast that The Hanover Insurance Group, Inc. will post 10.85 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.85 per share. The ex-dividend date is Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.33%. The Hanover Insurance Group’s payout ratio is 76.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on THG shares. Piper Sandler increased their target price on The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JMP Securities raised their target price on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a “market outperform” rating in a report on Thursday, August 1st. Bank of America lowered their price target on shares of The Hanover Insurance Group from $161.00 to $158.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $157.80.

Insiders Place Their Bets

In other news, EVP Richard W. Lavey sold 8,468 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $144.01, for a total value of $1,219,476.68. Following the completion of the transaction, the executive vice president now owns 36,281 shares in the company, valued at approximately $5,224,826.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Richard W. Lavey sold 8,468 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $144.01, for a total value of $1,219,476.68. Following the sale, the executive vice president now directly owns 36,281 shares of the company’s stock, valued at approximately $5,224,826.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total transaction of $252,889.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,852 shares of company stock worth $1,541,491. Company 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.