The Hanover Insurance Group, Inc. $THG Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 13.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,755 shares of the insurance provider’s stock after acquiring an additional 3,968 shares during the period. Hsbc Holdings PLC owned about 0.10% of The Hanover Insurance Group worth $5,866,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new position in The Hanover Insurance Group in the third quarter worth $26,000. McMillan Office Inc. acquired a new stake in shares of The Hanover Insurance Group during the fourth quarter worth $31,000. Entrust Financial LLC acquired a new stake in shares of The Hanover Insurance Group during the fourth quarter worth $33,000. Root Financial Partners LLC lifted its position in shares of The Hanover Insurance Group by 69.3% in the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock worth $41,000 after buying an additional 97 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in shares of The Hanover Insurance Group by 146.2% in the 4th quarter. IFP Advisors Inc now owns 256 shares of the insurance provider’s stock worth $47,000 after buying an additional 152 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on THG. Zacks Research downgraded shares of The Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a report on Wednesday, July 15th. Oppenheimer lifted their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Weiss Ratings raised The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 22nd. Finally, Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.29.

The Hanover Insurance Group Trading Up 0.6%

The Hanover Insurance Group stock opened at $214.10 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $203.16 and a two-hundred day moving average price of $185.68. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 10.78 and a beta of 0.28. The Hanover Insurance Group, Inc. has a 52-week low of $163.18 and a 52-week high of $225.29.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.14 by $1.11. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The Hanover Insurance Group’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.87 EPS. Sell-side analysts expect that The Hanover Insurance Group, Inc. will post 18.38 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Francisco Aristeguieta sold 1,000 shares of The Hanover Insurance Group stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the sale, the director owned 4,053 shares of the company’s stock, valued at $791,834.61. The trade was a 19.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cynthia Egan sold 3,400 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the transaction, the director owned 9,359 shares of the company’s stock, valued at $1,764,171.50. This trade represents a 26.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,508 shares of company stock worth $5,704,651 over the last quarter. Insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.