Allspring Global Investments Holdings LLC Trims Holdings in The Hanover Insurance Group, Inc. $THG

Allspring Global Investments Holdings LLC reduced its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 23.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 431,557 shares of the insurance provider’s stock after selling 130,638 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in The Hanover Insurance Group were worth $77,275,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in The Hanover Insurance Group by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock valued at $2,183,000 after acquiring an additional 66 shares during the period. NorthCrest Asset Manangement LLC increased its stake in The Hanover Insurance Group by 5.5% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,294 shares of the insurance provider’s stock worth $234,000 after purchasing an additional 68 shares during the period. AMG National Trust Bank lifted its position in shares of The Hanover Insurance Group by 0.7% during the third quarter. AMG National Trust Bank now owns 10,832 shares of the insurance provider’s stock worth $1,967,000 after purchasing an additional 73 shares in the last quarter. Buckhead Capital Management LLC lifted its position in shares of The Hanover Insurance Group by 2.2% during the third quarter. Buckhead Capital Management LLC now owns 3,435 shares of the insurance provider’s stock worth $624,000 after purchasing an additional 75 shares in the last quarter. Finally, Somerset Trust Co boosted its stake in shares of The Hanover Insurance Group by 5.8% in the fourth quarter. Somerset Trust Co now owns 1,361 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on THG. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $207.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Wall Street Zen lowered The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of The Hanover Insurance Group in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.50.

The Hanover Insurance Group Stock Up 0.4%

The Hanover Insurance Group stock opened at $173.30 on Wednesday. The stock has a market cap of $6.10 billion, a PE ratio of 9.54 and a beta of 0.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.44 and a quick ratio of 0.44. The stock’s fifty day moving average is $173.87 and its two-hundred day moving average is $176.96. The Hanover Insurance Group, Inc. has a 1-year low of $147.76 and a 1-year high of $188.18.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Friday, February 20th. The insurance provider reported $5.46 earnings per share (EPS) for the quarter. The business had revenue of $1.67 billion during the quarter. The Hanover Insurance Group had a return on equity of 21.00% and a net margin of 10.05%. On average, sell-side analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, March 13th. The Hanover Insurance Group’s dividend payout ratio is currently 20.91%.

Insider Buying and Selling at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,200 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $180.91, for a total value of $217,092.00. Following the completion of the sale, the director directly owned 2,423 shares of the company’s stock, valued at approximately $438,344.93. The trade was a 33.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard W. Lavey sold 24,420 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $178.92, for a total value of $4,369,226.40. Following the completion of the sale, the executive vice president owned 32,174 shares of the company’s stock, valued at approximately $5,756,572.08. This represents a 43.15% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.50% of the company’s stock.

About The Hanover Insurance Group

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.