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Parallel Advisors LLC Boosts Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)


Parallel Advisors LLC grew its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) by 13.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,147 shares of the insurance provider’s stock after buying an additional 257 shares during the quarter. Parallel Advisors LLC’s holdings in The Hanover Insurance Group were worth $324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of The Hanover Insurance Group during the 4th quarter valued at $103,194,000. Retirement Systems of Alabama grew its holdings in shares of The Hanover Insurance Group by 141.2% during the 4th quarter. Retirement Systems of Alabama now owns 111,492 shares of the insurance provider’s stock valued at $14,612,000 after purchasing an additional 65,262 shares during the last quarter. Strs Ohio grew its holdings in shares of The Hanover Insurance Group by 378.1% during the 1st quarter. Strs Ohio now owns 68,503 shares of the insurance provider’s stock valued at $10,242,000 after purchasing an additional 54,175 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of The Hanover Insurance Group by 122.9% during the 1st quarter. State of Alaska Department of Revenue now owns 57,130 shares of the insurance provider’s stock valued at $8,541,000 after purchasing an additional 31,496 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of The Hanover Insurance Group by 28.9% during the 4th quarter. Russell Investments Group Ltd. now owns 101,396 shares of the insurance provider’s stock valued at $13,286,000 after purchasing an additional 22,720 shares during the last quarter. Hedge funds and other institutional investors own 84.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equity analysts recently commented on the stock. StockNews.com lowered shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Morgan Stanley assumed coverage on shares of The Hanover Insurance Group in a report on Wednesday, June 29th. They set an “equal weight” rating and a $155.00 target price on the stock.

The Hanover Insurance Group Price Performance

Shares of The Hanover Insurance Group stock opened at $136.85 on Monday. The firm has a market cap of $4.87 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.81 and a beta of 0.79. The Hanover Insurance Group, Inc. has a 12-month low of $121.69 and a 12-month high of $155.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $144.09 and its two-hundred day simple moving average is $143.28.

The Hanover Insurance Group (NYSE:THG – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The insurance provider reported $3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.26. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.24 billion. The Hanover Insurance Group had a net margin of 8.16% and a return on equity of 12.25%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.66 EPS. As a group, equities analysts expect that The Hanover Insurance Group, Inc. will post 10.5 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Thursday, June 9th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 25.23%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, CEO John C. Roche sold 922 shares of the firm’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $155.24, for a total value of $143,131.28. Following the sale, the chief executive officer now owns 74,843 shares of the company’s stock, valued at approximately $11,618,627.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.50% of the company’s stock.

About The Hanover Insurance Group

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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 three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, and workers’ compensation insurance products, as well as management and professional liability, marine, specialty industrial and commercial property, monoline general liability, surety, umbrella, fidelity, crime, and other commercial coverages.

See Also

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



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