ETRADE Capital Management LLC Reduces Position in Hanover Insurance Group Inc (NYSE:THG)

ETRADE Capital Management LLC cut its holdings in Hanover Insurance Group Inc (NYSE:THG) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,468 shares of the insurance provider’s stock after selling 169 shares during the quarter. ETRADE Capital Management LLC’s holdings in Hanover Insurance Group were worth $858,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of THG. Guggenheim Capital LLC grew its stake in shares of Hanover Insurance Group by 22.9% during the 1st quarter. Guggenheim Capital LLC now owns 18,523 shares of the insurance provider’s stock valued at $1,678,000 after buying an additional 3,446 shares during the period. State of Tennessee Treasury Department boosted its stake in Hanover Insurance Group by 10.3% during the first quarter. State of Tennessee Treasury Department now owns 25,896 shares of the insurance provider’s stock valued at $2,346,000 after buying an additional 2,422 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Hanover Insurance Group by 82.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 47,957 shares of the insurance provider’s stock worth $4,344,000 after acquiring an additional 21,651 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Hanover Insurance Group by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,171 shares of the insurance provider’s stock worth $2,652,000 after acquiring an additional 1,442 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Hanover Insurance Group by 69.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 587 shares of the insurance provider’s stock worth $59,000 after acquiring an additional 240 shares in the last quarter. 85.29% of the stock is owned by institutional investors.

THG has been the topic of several analyst reports. Piper Sandler boosted their target price on Hanover Insurance Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. ValuEngine downgraded shares of Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 4th. Zacks Investment Research raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Thursday, August 13th. Finally, Credit Suisse Group initiated coverage on shares of Hanover Insurance Group in a research note on Thursday. They issued a “neutral” rating and a $117.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $126.20.

Shares of NYSE:THG traded down $0.52 during trading on Friday, reaching $99.59. 4,171 shares of the company were exchanged, compared to its average volume of 180,647. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $3.87 billion, a PE ratio of 12.53 and a beta of 0.85. The business’s fifty day simple moving average is $102.59 and its 200-day simple moving average is $102.28. Hanover Insurance Group Inc has a 12-month low of $75.11 and a 12-month high of $144.71.

Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $1.63 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $1.88 EPS. Hanover Insurance Group’s quarterly revenue was down 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that Hanover Insurance Group Inc will post 7.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given 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 2.61%. Hanover Insurance Group’s dividend payout ratio (DPR) is presently 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.

Read More: Neutral Rating

Institutional Ownership by Quarter for Hanover Insurance Group (NYSE:THG)

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