Allspring Global Investments Holdings LLC Has $69.19 Million Holdings in The Hanover Insurance Group, Inc. $THG

Allspring Global Investments Holdings LLC lessened its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 401,539 shares of the insurance provider’s stock after selling 30,018 shares during the period. Allspring Global Investments Holdings LLC’s holdings in The Hanover Insurance Group were worth $69,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in THG. JPL Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group in the 3rd quarter valued at approximately $26,000. McMillan Office Inc. bought a new position in The Hanover Insurance Group in the 4th quarter valued at approximately $31,000. Entrust Financial LLC acquired a new stake in The Hanover Insurance Group in the fourth quarter valued at approximately $33,000. Root Financial Partners LLC boosted its position in The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after buying an additional 97 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of The Hanover Insurance Group by 146.2% during the fourth 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. Institutional investors own 86.61% of the company’s stock.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Denise Lowsley sold 4,175 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the transaction, the executive vice president owned 3,883 shares in the company, valued at $744,487.59. This trade represents a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total value of $195,370.00. Following the transaction, the director directly owned 4,053 shares in the company, valued at approximately $791,834.61. The trade was a 19.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,508 shares of company stock valued at $5,704,651. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on THG shares. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. Piper Sandler lowered The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $220.00 target price (up from $211.00) on shares of The Hanover Insurance Group in a report on Wednesday, July 8th. Morgan Stanley increased their target price on The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada lifted their price target on The Hanover Insurance Group from $195.00 to $215.00 and gave the company a “sector perform” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $218.29.

The Hanover Insurance Group Stock Performance

THG opened at $213.42 on Friday. The Hanover Insurance Group, Inc. has a 1-year low of $163.18 and a 1-year high of $225.29. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 10.74 and a beta of 0.28. The company’s fifty day moving average price is $201.24 and its two-hundred day moving average price is $184.78. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $3.87 earnings per share. On average, analysts expect that The Hanover Insurance Group, Inc. will post 18.38 EPS for the current fiscal year.

The Hanover Insurance Group declared that its board has authorized a stock repurchase program on Wednesday, May 13th that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s payout ratio is currently 19.12%.

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.