Hotchkis & Wiley Capital Management LLC Buys 18,700 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Hotchkis & Wiley Capital Management LLC lifted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 27.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 87,725 shares of the insurance provider’s stock after acquiring an additional 18,700 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.24% of The Hanover Insurance Group worth $12,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THG. True Wealth Design LLC purchased a new position in shares of The Hanover Insurance Group in the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in The Hanover Insurance Group during the third quarter valued at approximately $26,000. Point72 Hong Kong Ltd purchased a new position in shares of The Hanover Insurance Group during the second quarter worth approximately $25,000. 1620 Investment Advisors Inc. purchased a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at $42,000. Finally, Capital Performance Advisors LLP bought a new position in shares of The Hanover Insurance Group during the 3rd quarter valued at $60,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

THG has been the topic of a number of recent research reports. Janney Montgomery Scott cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a research note on Thursday, November 21st. Piper Sandler increased their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods upped their price target on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, JMP Securities increased their target price on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $173.83.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the transaction, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. The trade was a 15.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 30,551 shares of company stock valued at $4,781,935 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

The Hanover Insurance Group Trading Up 0.5 %

Shares of THG opened at $163.32 on Wednesday. The Hanover Insurance Group, Inc. has a 1-year low of $119.36 and a 1-year high of $166.13. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 16.20 and a beta of 0.71. The firm’s 50-day moving average price is $154.33 and its 200-day moving average price is $140.92. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last released 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 company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. Sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.20%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Friday, December 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 33.73%.

The Hanover Insurance Group 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.