Manufacturers Life Insurance Company reduced its stake in Hanover Insurance Group (NYSE:THG – Get Rating) by 3.1% in the third quarter, according to the latest disclosure to the SEC. The institutional investor owned 28,891 shares in the insurance company after selling 911 of his shares during the period. Manufacturers Life Insurance Company owned approximately 0.08% of Hannover Insurance Group, valued at $3,702,000 at the end of the most recent quarter.
A number of other big investors have also recently bought and sold shares in the business. GPS Wealth Strategies Group LLC increased its holding in Hannover Insurance Group by 55.0% in the third quarter. He owns 203 shares of the insurance company worth $26,000 after GPS Wealth Strategies Group LLC purchased an additional 72 of his shares during the last quarter. Assetmark Inc. increased its holding in Hannover Insurance Group by 139.2% in the second quarter. Assetmark Inc. now owns 244 shares of the insurance company’s stock valued at $36,000 after purchasing an additional 142 shares during the previous quarter. Riverview Trust Co increased its holding in Hannover Insurance Group by 48.2% in the third quarter. Riverview Trust Co now owns 338 shares of the insurance company worth $43,000 after purchasing an additional 110 shares during the previous quarter. Ronald Blue Trust Inc. purchased a new position in Hannover Insurance Group for $47,000 in the second quarter. Finally, Covestor Ltd increased its stake in Hannover Insurance Group by 35.4% in the first quarter. Covestor Ltd now owns 520 shares of the insurance company valued at $78,000 after purchasing an additional 136 shares during the previous quarter. Institutional investors own 86.39% of the company’s shares.
In related news, EVP Mark Joseph Welzenbach sold 2,673 shares of the company in a transaction on Friday, November 4th. The shares sold for an average of $142.21, and the total trading value he had was $380,127.33. Following the closing of the transaction, the Executive Vice President now owns 19,846 shares in the company, valued at approximately $2,822,299.66. The transaction is disclosed in legal filings with the SEC, which can be accessed on his website. The insider owns his 2.50% of the company’s shares.
Hannover Insurance Group deals down 1.3%
Shares of Hannover Insurance Group opened Thursday at $132.81. The company has a 50-day simple moving average of $137.13 and a 200-day simple moving average of $136.23. The company has a market capitalization of $4.72 billion, a P/E ratio of 16.46, a P/E ratio of 1.00 and a beta of 0.72. Hanover Insurance Group, Inc. hit a 52-week low of $123.36 and a 52-week high of $155.55. The company has an equity ratio of 0.34, a quick ratio of 0.39 and a current ratio of 0.39.
Hannover Insurance Group (NYSE: THG – Get Rating) last announced its quarterly earnings data on Tuesday, November 1. The insurer reported earnings of $0.99 per share for him in the quarter, beating analysts’ consensus forecast of $0.97 by $0.02. The business made $1.41 billion in revenue during the quarter, compared to consensus expectations of $1.37 billion. The Hannover Insurance Group posted a net profit margin of 5.42% and a return on equity of 13.26%. As a group, equity analysts expect Hannover Insurance Group Inc. to post earnings per share of 5.54 for the current financial year.
Hannover Insurance Group increases dividend
The company recently announced its quarterly dividend, which was paid out on Friday, December 30th. Shareholders of record on Thursday, December 15 were awarded a dividend of $0.81. The ex-dividend date was Wednesday, December 14. This represents his $3.24 dividend and his 2.44% dividend yield on an annual basis. This is an increase from Hannover Insurance Group’s previous quarterly dividend of $0.75. The payout ratio of the Hannover Insurance Group is 40.15%.
Analyst sets new price target
THG has been the topic of many research analyst reports. Janney Montgomery Scott begins covering the stock of Hanover Insurance Group in a report on Friday, November 11th. They set a ‘buy’ rating and a price target of $164.00. BMO Capital Markets began covering shares of Hanover Insurance Group in a report on Thursday, January 19th. They set a “Market Performing” rating and a price target of $141.00. Morgan Stanley raised its price target for Hanover Insurance Group from her $145.00 to her $150.00 in a report on Tuesday, Nov. 22, giving the company an “equal-weighted” rating. Piper Sandler raised his stock price target for Hanover Insurance Group from her $144.00 to her $151.00 in a report on Tuesday, Jan. 10. Finally, StockNews.com downgraded Hanover Insurance Group shares from a ‘buy’ rating to a ‘hold’ rating in her report on Thursday, October 13. Four analysts rated the stock with a hold rating and one gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $151.50.
About Hannover Insurance Group
Hannover Insurance Group Inc. is a holding company engaged in the provision of property and casualty insurance products and services. It operates in commercial lines, personal lines and other segments. The Commercial Lines segment includes commercial multiple perils, commercial automobiles, workers’ compensation, and other commercial coverage such as special program business, inland shipping, management, professional liability and warranties.
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