JPMorgan Chase & Co. Has $10.24 Million Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

JPMorgan Chase & Co. reduced its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 19.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,165 shares of the insurance provider's stock after selling 17,047 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.19% of The Hanover Insurance Group worth $10,244,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors raised its position in shares of The Hanover Insurance Group by 4.7% during the 3rd quarter. Captrust Financial Advisors now owns 1,822 shares of the insurance provider's stock valued at $270,000 after acquiring an additional 81 shares during the last quarter. Lecap Asset Management Ltd. increased its position in shares of The Hanover Insurance Group by 2.0% in the 3rd quarter. Lecap Asset Management Ltd. now owns 4,202 shares of the insurance provider's stock valued at $622,000 after buying an additional 84 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its position in shares of The Hanover Insurance Group by 0.6% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 14,693 shares of the insurance provider's stock valued at $2,176,000 after buying an additional 91 shares in the last quarter. UMB Bank n.a. increased its position in shares of The Hanover Insurance Group by 35.4% in the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider's stock valued at $62,000 after buying an additional 109 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its position in shares of The Hanover Insurance Group by 6.8% in the 3rd quarter. Boston Financial Mangement LLC now owns 2,350 shares of the insurance provider's stock valued at $348,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on THG. Morgan Stanley began 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 objective for the company. Bank of America increased their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. JMP Securities increased their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a "buy" rating to a "neutral" rating and set a $176.00 price objective for the company. in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, The Hanover Insurance Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.88.

Insiders Place Their Bets

In other news, EVP Jeffrey M. Farber sold 6,114 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $162.36, for a total value of $992,669.04. Following the completion of the transaction, the executive vice president now directly owns 54,091 shares in the company, valued at approximately $8,782,214.76. This represents a 10.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 28,900 shares of company stock worth $4,534,151 over the last three months. Insiders own 2.40% of the company's stock.

The Hanover Insurance Group Stock Performance

THG stock traded up $2.74 during mid-day trading on Monday, hitting $149.87. 203,577 shares of the company were exchanged, compared to its average volume of 189,468. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5.40 billion, a PE ratio of 14.87 and a beta of 0.72. The business has a 50 day simple moving average of $157.59 and a 200-day simple moving average of $146.29. The Hanover Insurance Group, Inc. has a 1-year low of $119.66 and a 1-year high of $166.13.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, topping 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 firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the company earned $0.19 earnings per share. The company's quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that The Hanover Insurance Group, Inc. will post 11.41 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from The Hanover Insurance Group's previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a yield of 2.40%. The Hanover Insurance Group's dividend payout ratio is presently 35.71%.

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.