Suntrust Banks Inc. decreased its stake in Hanover Insurance Group Inc (NYSE:THG) by 89.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,605 shares of the insurance provider’s stock after selling 22,340 shares during the period. Suntrust Banks Inc.’s holdings in Hanover Insurance Group were worth $305,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Two Sigma Securities LLC purchased a new position in Hanover Insurance Group during the 4th quarter valued at about $412,000. Two Sigma Advisers LP grew its holdings in shares of Hanover Insurance Group by 51.5% during the fourth quarter. Two Sigma Advisers LP now owns 74,416 shares of the insurance provider’s stock worth $8,690,000 after buying an additional 25,300 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Hanover Insurance Group by 1,037.5% during the fourth quarter. Two Sigma Investments LP now owns 89,859 shares of the insurance provider’s stock worth $10,493,000 after buying an additional 81,959 shares in the last quarter. Stone Ridge Asset Management LLC grew its holdings in shares of Hanover Insurance Group by 62.6% during the fourth quarter. Stone Ridge Asset Management LLC now owns 31,157 shares of the insurance provider’s stock worth $3,639,000 after buying an additional 12,000 shares in the last quarter. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of Hanover Insurance Group by 5.5% during the fourth quarter. Brandywine Global Investment Management LLC now owns 98,269 shares of the insurance provider’s stock worth $11,475,000 after buying an additional 5,155 shares in the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.
Shares of THG stock opened at $119.58 on Friday. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 17.61 and a beta of 0.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.51 and a current ratio of 0.51. Hanover Insurance Group Inc has a fifty-two week low of $104.59 and a fifty-two week high of $131.44.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.01%. Hanover Insurance Group’s dividend payout ratio is currently 35.35%.
In related news, SVP Warren E. Barnes sold 790 shares of Hanover Insurance Group stock in a transaction on Monday, February 25th. The shares were sold at an average price of $118.85, for a total value of $93,891.50. Following the completion of the sale, the senior vice president now owns 5,503 shares in the company, valued at $654,031.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Joseph Welzenbach sold 7,402 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $113.05, for a total transaction of $836,796.10. The disclosure for this sale can be found here. Insiders have sold 17,560 shares of company stock worth $2,016,383 in the last quarter. Insiders own 1.65% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Compass Point began coverage on shares of Hanover Insurance Group in a report on Friday, March 1st. They set a “buy” rating and a $118.71 price target for the company. ValuEngine raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Monday, December 31st. Finally, Zacks Investment Research cut shares of Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $130.57.
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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 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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