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Peregrine Capital Management LLC Reduces Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Financial News Live · Sep 29, 2022 16:51

Peregrine Capital Management LLC lowered its stake in The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) by 1.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 82,333 shares of the insurance provider's stock after selling 1,182 shares during the period. Peregrine Capital Management LLC's holdings in The Hanover Insurance Group were worth $12,041,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of THG. Leeward Investments LLC MA purchased a new position in shares of The Hanover Insurance Group during the first quarter valued at approximately $25,408,000. Strs Ohio boosted its position in shares of The Hanover Insurance Group by 378.1% during the first quarter. Strs Ohio now owns 68,503 shares of the insurance provider's stock valued at $10,242,000 after buying an additional 54,175 shares during the period. State Street Corp boosted its position in shares of The Hanover Insurance Group by 4.9% during the first quarter. State Street Corp now owns 1,096,740 shares of the insurance provider's stock valued at $163,985,000 after buying an additional 51,132 shares during the period. BlackRock Inc. boosted its position in shares of The Hanover Insurance Group by 1.6% during the first quarter. BlackRock Inc. now owns 3,235,297 shares of the insurance provider's stock valued at $483,743,000 after buying an additional 50,073 shares during the period. Finally, Markel Corp purchased a new position in shares of The Hanover Insurance Group during the first quarter valued at approximately $7,027,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

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Insider Activity

In other news, Director Jane D. Carlin sold 946 shares of the business's stock in a transaction on Friday, August 19th. The shares were sold at an average price of $136.65, for a total transaction of $129,270.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

The Hanover Insurance Group Stock Down 0.8 %

NYSE THG traded down $1.07 on Thursday, hitting $129.88. The stock had a trading volume of 14,103 shares, compared to its average volume of 187,488. The business's fifty day moving average price is $133.24 and its 200 day moving average price is $141.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.39 and a quick ratio of 0.39. The Hanover Insurance Group, Inc. has a 52-week low of $121.69 and a 52-week high of $155.55. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 0.75 and a beta of 0.72.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, September 15th. The Hanover Insurance Group's dividend payout ratio is currently 33.33%.

Analyst Ratings Changes

Several analysts have recently weighed in on THG shares. StockNews.com downgraded shares of The Hanover Insurance Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 13th. Morgan Stanley reduced their price objective on shares of The Hanover Insurance Group from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Friday, August 19th.

The Hanover Insurance Group Company Profile

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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.