Bayforest Capital Ltd Sells 450 Shares of The Hanover Insurance Group, Inc. $THG

Bayforest Capital Ltd trimmed its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 11.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,476 shares of the insurance provider’s stock after selling 450 shares during the period. Bayforest Capital Ltd’s holdings in The Hanover Insurance Group were worth $590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Johnson Investment Counsel Inc. purchased a new position in The Hanover Insurance Group during the first quarter valued at $209,000. Principal Financial Group Inc. raised its position in shares of The Hanover Insurance Group by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 82,886 shares of the insurance provider’s stock worth $14,418,000 after purchasing an additional 252 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in The Hanover Insurance Group by 7.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 112,632 shares of the insurance provider’s stock worth $19,592,000 after purchasing an additional 7,661 shares in the last quarter. Wealthquest Corp purchased a new stake in The Hanover Insurance Group during the 1st quarter valued at about $869,000. Finally, GAMMA Investing LLC increased its stake in The Hanover Insurance Group by 47.2% during the 1st quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Price Performance

Shares of THG opened at $177.55 on Wednesday. The firm has a fifty day simple moving average of $176.20 and a two-hundred day simple moving average of $169.80. The firm has a market cap of $6.35 billion, a PE ratio of 11.69 and a beta of 0.44. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11. The Hanover Insurance Group, Inc. has a 1-year low of $145.17 and a 1-year high of $186.46.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, topping the consensus estimate of $3.07 by $1.28. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The Hanover Insurance Group’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 earnings per share. On average, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, September 12th. The Hanover Insurance Group’s dividend payout ratio is 23.70%.

Analyst Ratings Changes

THG has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. JMP Securities set a $205.00 price objective on The Hanover Insurance Group in a research report on Thursday, July 31st. Keefe, Bruyette & Woods upgraded The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a research note on Wednesday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of The Hanover Insurance Group in a research note on Wednesday, October 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $188.00.

About The 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 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.