Hsbc Holdings PLC Reduces Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Hsbc Holdings PLC reduced its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 82.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,162 shares of the insurance provider’s stock after selling 24,230 shares during the quarter. Hsbc Holdings PLC’s holdings in The Hanover Insurance Group were worth $627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in THG. Comerica Bank increased its holdings in The Hanover Insurance Group by 321.8% in the 3rd quarter. Comerica Bank now owns 51,519 shares of the insurance provider’s stock worth $5,718,000 after acquiring an additional 39,306 shares during the last quarter. Buckhead Capital Management LLC lifted its stake in shares of The Hanover Insurance Group by 48.5% during the 4th quarter. Buckhead Capital Management LLC now owns 15,440 shares of the insurance provider’s stock valued at $1,875,000 after buying an additional 5,045 shares in the last quarter. Leeward Investments LLC MA boosted its holdings in The Hanover Insurance Group by 13.1% in the 4th quarter. Leeward Investments LLC MA now owns 126,866 shares of the insurance provider’s stock worth $15,404,000 after buying an additional 14,686 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in The Hanover Insurance Group by 547.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 13,500 shares of the insurance provider’s stock valued at $1,498,000 after buying an additional 11,416 shares in the last quarter. Finally, Markel Group Inc. raised its holdings in The Hanover Insurance Group by 19.6% during the 3rd quarter. Markel Group Inc. now owns 189,000 shares of the insurance provider’s stock valued at $20,975,000 after acquiring an additional 31,000 shares during the period. 86.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

THG has been the subject of a number of analyst reports. TheStreet raised The Hanover Insurance Group from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Oppenheimer increased their price target on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $147.00 price objective on shares of The Hanover Insurance Group in a research note on Monday, April 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of The Hanover Insurance Group in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

The Hanover Insurance Group Price Performance

Shares of THG stock traded up $2.96 during trading on Friday, hitting $133.64. The company had a trading volume of 252,072 shares, compared to its average volume of 178,011. The stock’s 50-day moving average is $130.71 and its two-hundred day moving average is $126.42. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 29.98 and a beta of 0.67. The company has a quick ratio of 0.39, a current ratio of 0.38 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group, Inc. has a 52 week low of $103.82 and a 52 week high of $138.00.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.62. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.56 billion. The Hanover Insurance Group had a net margin of 2.67% and a return on equity of 7.00%. As a group, analysts predict that The Hanover Insurance Group, Inc. will post 10.03 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.85 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.40 dividend on an annualized basis and a yield of 2.54%. The Hanover Insurance Group’s dividend payout ratio is presently 76.23%.

About The Hanover Insurance Group

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 four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.