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

Geode Capital Management LLC trimmed its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 651,422 shares of the insurance provider's stock after selling 8,850 shares during the period. Geode Capital Management LLC owned 1.81% of The Hanover Insurance Group worth $100,779,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new position in shares of The Hanover Insurance Group during the 4th quarter worth approximately $1,160,000. Franklin Resources Inc. grew its holdings in The Hanover Insurance Group by 28.6% during the 4th quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider's stock valued at $188,363,000 after buying an additional 270,491 shares during the last quarter. Alliancebernstein L.P. increased its position in The Hanover Insurance Group by 2.4% during the fourth quarter. Alliancebernstein L.P. now owns 860,260 shares of the insurance provider's stock worth $133,048,000 after buying an additional 19,956 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of The Hanover Insurance Group by 61.4% in the fourth quarter. Wellington Management Group LLP now owns 90,013 shares of the insurance provider's stock worth $13,921,000 after acquiring an additional 34,239 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of The Hanover Insurance Group by 6.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,886 shares of the insurance provider's stock valued at $446,000 after acquiring an additional 165 shares in the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research firms recently commented on THG. 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, December 19th. Barclays raised shares of The Hanover Insurance Group to a "hold" rating in a research note on Friday, January 24th. Morgan Stanley lifted their target price on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reduced their price target on The Hanover Insurance Group from $179.00 to $171.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler lifted their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, The Hanover Insurance Group currently has an average rating of "Hold" and an average price target of $178.00.

Insider Activity

In other The Hanover Insurance Group news, CEO John C. Roche sold 301 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now owns 124,414 shares in the company, valued at $21,772,450. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company's stock.

The Hanover Insurance Group Trading Up 1.0 %

Shares of THG traded up $1.53 during trading hours on Tuesday, hitting $160.94. The stock had a trading volume of 33,635 shares, compared to its average volume of 199,726. The Hanover Insurance Group, Inc. has a 12-month low of $119.66 and a 12-month high of $176.16. The firm has a market cap of $5.78 billion, a P/E ratio of 13.78 and a beta of 0.47. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40. The company's fifty day simple moving average is $164.95 and its 200 day simple moving average is $158.42.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, beating the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. Equities research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, March 14th. The Hanover Insurance Group's payout ratio is currently 30.80%.

The Hanover Insurance Group 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.