AQR Capital Management LLC reduced its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 53.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,977 shares of the insurance provider’s stock after selling 220,767 shares during the quarter. AQR Capital Management LLC owned 0.51% of Hanover Insurance Group worth $19,574,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Signaturefd LLC lifted its position in shares of Hanover Insurance Group by 60.5% during the second quarter. Signaturefd LLC now owns 297 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 112 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Hanover Insurance Group by 851.7% during the second quarter. IFP Advisors Inc now owns 571 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 511 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Hanover Insurance Group by 69.2% during the second quarter. Parkside Financial Bank & Trust now owns 587 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 240 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Hanover Insurance Group during the first quarter worth $75,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of Hanover Insurance Group during the first quarter worth $90,000. Institutional investors own 85.29% of the company’s stock.
Several equities analysts have recently commented on THG shares. Zacks Investment Research lowered shares of Hanover Insurance Group from a “buy” rating to a “sell” rating in a research report on Wednesday, September 9th. ValuEngine lowered shares of Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 4th. Piper Sandler increased their target price on shares of Hanover Insurance Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Finally, Credit Suisse Group began coverage on shares of Hanover Insurance Group in a research report on Thursday, September 3rd. They issued a “neutral” rating and a $117.00 target price for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Hanover Insurance Group has an average rating of “Hold” and a consensus price target of $126.20.
Hanover Insurance Group stock traded down $0.11 during trading hours on Friday, hitting $95.79. The stock had a trading volume of 308,978 shares, compared to its average volume of 272,936. The business’s 50 day simple moving average is $102.05 and its 200-day simple moving average is $99.64. Hanover Insurance Group Inc has a one year low of $75.11 and a one year high of $144.71. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 12.46 and a beta of 0.85. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.21.
Hanover Insurance Group (NYSE:THG) last released its earnings results on Tuesday, July 28th. The insurance provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Hanover Insurance Group had a return on equity of 10.93% and a net margin of 6.39%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company posted $1.88 EPS. Hanover Insurance Group’s revenue for the quarter was down 5.0% on a year-over-year basis. Research analysts anticipate that Hanover Insurance Group Inc will post 7.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.60 annualized dividend and a yield of 2.71%. Hanover Insurance Group’s dividend payout ratio is 31.86%.
About Hanover Insurance Group
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers’ compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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