New Mexico Educational Retirement Board grew its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 34.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 9,400 shares of the insurance provider’s stock after buying an additional 2,400 shares during the period. New Mexico Educational Retirement Board’s holdings in Hanover Insurance Group were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in THG. Norges Bank acquired a new position in Hanover Insurance Group during the 4th quarter worth approximately $76,570,000. FDx Advisors Inc. acquired a new position in Hanover Insurance Group during the 1st quarter worth approximately $498,000. Vaughan Nelson Investment Management L.P. increased its position in Hanover Insurance Group by 37.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 593,465 shares of the insurance provider’s stock worth $53,757,000 after purchasing an additional 161,340 shares during the period. Wellington Management Group LLP increased its position in Hanover Insurance Group by 27.9% during the 1st quarter. Wellington Management Group LLP now owns 640,190 shares of the insurance provider’s stock worth $57,988,000 after purchasing an additional 139,580 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Hanover Insurance Group by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 759,768 shares of the insurance provider’s stock worth $103,837,000 after purchasing an additional 135,337 shares during the period. Institutional investors own 85.25% of the company’s stock.

A number of equities research analysts recently weighed in on the company. TheStreet cut Hanover Insurance Group from a “b” rating to a “c+” rating in a report on Monday, March 30th. Piper Sandler upped their price target on Hanover Insurance Group from $110.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Zacks Investment Research cut Hanover Insurance Group from a “hold” rating to a “sell” rating in a report on Thursday, May 28th. Finally, JMP Securities lowered their price target on Hanover Insurance Group from $150.00 to $140.00 and set a “market outperform” rating on the stock in a report on Thursday, April 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $137.50.

Shares of Hanover Insurance Group stock opened at $100.02 on Tuesday. The firm has a market cap of $3.64 billion, a PE ratio of 15.46 and a beta of 0.88. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average is $99.40 and its two-hundred day moving average is $114.24. Hanover Insurance Group Inc has a fifty-two week low of $75.11 and a fifty-two week high of $144.71.

Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Tuesday, April 28th. The insurance provider reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.20. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. Hanover Insurance Group had a return on equity of 11.56% and a net margin of 5.56%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 EPS. Equities research analysts anticipate that Hanover Insurance Group Inc will post 7.75 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.65 dividend. The ex-dividend date was Thursday, June 11th. This represents a $2.60 annualized dividend and a yield of 2.60%. Hanover Insurance Group’s dividend payout ratio is currently 31.86%.

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

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