C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $1.07 Million Position in The Hanover Insurance Group, Inc. (NYSE:THG)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,942 shares of the insurance provider’s stock, valued at approximately $1,074,000.

Several other institutional investors have also recently made changes to their positions in THG. Creative Planning raised its position in shares of The Hanover Insurance Group by 20.8% during the 3rd quarter. Creative Planning now owns 12,718 shares of the insurance provider’s stock valued at $1,884,000 after buying an additional 2,193 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of The Hanover Insurance Group during the 3rd quarter valued at approximately $26,000. Private Advisor Group LLC acquired a new stake in The Hanover Insurance Group in the 3rd quarter valued at approximately $222,000. Lecap Asset Management Ltd. increased its holdings in The Hanover Insurance Group by 2.0% in the 3rd quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider’s stock valued at $622,000 after purchasing an additional 84 shares during the last quarter. Finally, Greenleaf Trust acquired a new stake in The Hanover Insurance Group in the 3rd quarter valued at approximately $218,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Oppenheimer lifted their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the company a “market perform” rating in a report on Monday, February 10th. BMO Capital Markets lifted their target price on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Piper Sandler lifted their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, The Hanover Insurance Group has a consensus rating of “Hold” and an average price target of $175.25.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $160.20 on Wednesday. The company has a fifty day simple moving average of $155.72 and a two-hundred day simple moving average of $151.42. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 13.70 and a beta of 0.72. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The Hanover Insurance Group, Inc. has a 52 week low of $119.66 and a 52 week high of $166.98.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, topping the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. As a group, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 14.11 earnings per share for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.90 per share. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, December 13th. The Hanover Insurance Group’s payout ratio is 30.80%.

The 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 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.