Ibex Wealth Advisors Buys Shares of 1,897 The Hanover Insurance Group, Inc. (NYSE:THG)

Ibex Wealth Advisors purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,897 shares of the insurance provider’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in The Hanover Insurance Group during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in The Hanover Insurance Group during the third quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in The Hanover Insurance Group during the third quarter worth $30,000. Eagle Bay Advisors LLC increased its holdings in shares of The Hanover Insurance Group by 502.1% in the 4th quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 236 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of The Hanover Insurance Group by 226.0% in the 4th quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider’s stock worth $52,000 after acquiring an additional 235 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on THG. BMO Capital Markets lifted their target price on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. JMP Securities increased their target price 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. Morgan Stanley began coverage on shares of The Hanover Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 price target on the stock. Piper Sandler raised their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 target price on the stock. in a research report on Thursday, November 21st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $174.88.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 5,886 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $160.05, for a total transaction of $942,054.30. Following the sale, the executive vice president now directly owns 60,205 shares of the company’s stock, valued at approximately $9,635,810.25. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 12,100 shares of company stock valued at $1,951,223 over the last 90 days. Insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of THG opened at $156.73 on Thursday. The stock has a 50-day moving average of $156.55 and a two-hundred day moving average of $148.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $5.65 billion, a P/E ratio of 15.55 and a beta of 0.72. The Hanover Insurance Group, Inc. has a one year low of $119.66 and a one year high of $166.13.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The Hanover Insurance Group’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 11.46 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.90 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s dividend payout ratio is presently 35.71%.

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.