Geode Capital Management LLC Increases Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Geode Capital Management LLC increased its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 660,272 shares of the insurance provider's stock after purchasing an additional 16,800 shares during the quarter. Geode Capital Management LLC owned 1.83% of The Hanover Insurance Group worth $97,816,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its position in shares of The Hanover Insurance Group by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider's stock valued at $219,883,000 after acquiring an additional 143,339 shares during the period. State Street Corp raised its holdings in The Hanover Insurance Group by 0.3% during the third quarter. State Street Corp now owns 1,239,701 shares of the insurance provider's stock worth $183,612,000 after purchasing an additional 3,780 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in The Hanover Insurance Group by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider's stock worth $147,667,000 after purchasing an additional 4,717 shares in the last quarter. American Century Companies Inc. grew its holdings in The Hanover Insurance Group by 4.3% in the second quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider's stock valued at $100,607,000 after purchasing an additional 33,249 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of The Hanover Insurance Group by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider's stock valued at $100,111,000 after buying an additional 30,536 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on THG. Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $164.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, November 7th. Morgan Stanley started coverage on shares of The Hanover Insurance Group in a research report on Thursday, December 5th. They issued an "equal weight" rating and a $170.00 price target on the stock. BMO Capital Markets lifted their price objective on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday. Bank of America increased their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Finally, Piper Sandler boosted their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $174.13.

The Hanover Insurance Group Trading Up 2.3 %

Shares of NYSE:THG traded up $3.39 during midday trading on Thursday, reaching $153.49. The company's stock had a trading volume of 226,799 shares, compared to its average volume of 175,629. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 15.23 and a beta of 0.71. The business has a 50 day moving average price of $156.45 and a 200 day moving average price of $142.74. The Hanover Insurance Group, Inc. has a 1 year low of $119.36 and a 1 year high of $166.13. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The company had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the previous year, the business earned $0.19 EPS. The firm's revenue was up 3.2% on a year-over-year basis. Research analysts forecast that The Hanover Insurance Group, Inc. will post 11.41 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.35%. This is an increase from The Hanover Insurance Group's previous quarterly dividend of $0.85. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 35.71%.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 12,000 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the completion of the sale, the executive vice president now owns 66,091 shares in the company, valued at approximately $10,249,392.28. The trade was a 15.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 29,051 shares of company stock worth $4,556,803 in the last ninety days. Insiders own 2.40% of the company's stock.

The Hanover Insurance Group Company Profile

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.