Norges Bank Makes New Investment in The Hanover Insurance Group, Inc. (NYSE:THG)

Norges Bank bought a new stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 439,208 shares of the insurance provider's stock, valued at approximately $67,928,000. Norges Bank owned approximately 1.22% of The Hanover Insurance Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in THG. JPMorgan Chase & Co. lifted its stake in The Hanover Insurance Group by 5.2% in the fourth quarter. JPMorgan Chase & Co. now owns 72,738 shares of the insurance provider's stock valued at $11,250,000 after acquiring an additional 3,573 shares during the last quarter. Vanguard Group Inc. lifted its stake in The Hanover Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,613,952 shares of the insurance provider's stock valued at $558,934,000 after purchasing an additional 23,565 shares during the last quarter. LPL Financial LLC grew its holdings in The Hanover Insurance Group by 47.7% during the fourth quarter. LPL Financial LLC now owns 11,915 shares of the insurance provider's stock worth $1,843,000 after purchasing an additional 3,847 shares during the period. KLP Kapitalforvaltning AS acquired a new position in The Hanover Insurance Group during the fourth quarter worth approximately $1,454,000. Finally, American Century Companies Inc. raised its stake in The Hanover Insurance Group by 15.7% in the fourth quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider's stock valued at $148,297,000 after buying an additional 130,054 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other The Hanover Insurance Group news, CEO John C. Roche sold 301 shares of the firm'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 sale, the chief executive officer now owns 124,414 shares of the company's stock, valued at approximately $21,772,450. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

The Hanover Insurance Group Trading Down 8.6 %

Shares of NYSE:THG traded down $14.93 during midday trading on Friday, hitting $157.82. 453,240 shares of the stock were exchanged, compared to its average volume of 195,072. The business's 50-day moving average price is $165.04 and its 200 day moving average price is $158.01. The Hanover Insurance Group, Inc. has a 12 month low of $119.66 and a 12 month high of $176.16. 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 stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 13.50 and a beta of 0.65.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, topping 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%. Analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group's dividend payout ratio (DPR) is 30.80%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the stock a "market perform" rating in a report on Monday, February 10th. BMO Capital Markets upped their target price on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Piper Sandler increased their target price on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a research note on Tuesday. Barclays upgraded The Hanover Insurance Group to a "hold" rating in a research note on Friday, January 24th. Finally, Morgan Stanley lifted their target price on The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, The Hanover Insurance Group has an average rating of "Hold" and an average target price of $179.00.

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.