The Hanover Insurance Group, Inc. (NYSE:THG) Stock Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 992,294 shares of the insurance provider's stock after selling 16,572 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.76% of The Hanover Insurance Group worth $124,473,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co acquired a new stake in The Hanover Insurance Group in the first quarter valued at approximately $31,000. Quarry LP acquired a new position in The Hanover Insurance Group during the fourth quarter worth $34,000. 1620 Investment Advisors Inc. acquired a new stake in shares of The Hanover Insurance Group in the second quarter valued at about $42,000. Kapitalo Investimentos Ltda acquired a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $65,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of The Hanover Insurance Group by 64.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 747 shares of the insurance provider's stock worth $102,000 after purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Trading Down 0.2 %

Shares of THG traded down $0.21 during midday trading on Tuesday, reaching $137.11. The company had a trading volume of 155,769 shares, compared to its average volume of 170,359. The Hanover Insurance Group, Inc. has a 1-year low of $103.82 and a 1-year high of $139.30. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $130.51 and a 200-day simple moving average of $130.99. The stock has a market cap of $4.93 billion, a PE ratio of 30.74 and a beta of 0.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.88. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The Hanover Insurance Group's revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned ($1.91) earnings per share. Research analysts forecast that The Hanover Insurance Group, Inc. will post 10.53 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 13th. The Hanover Insurance Group's dividend payout ratio is presently 76.23%.

Insider Buying and Selling

In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on THG shares. Oppenheimer lifted their price objective on The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods boosted their price target on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 13th. Piper Sandler raised their price objective on The Hanover Insurance Group from $147.00 to $162.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Bank of America dropped their target price on shares of The Hanover Insurance Group from $161.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. Finally, JMP Securities raised their price target on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $152.50.

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.