Principal Financial Group Inc. Sells 287,132 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Principal Financial Group Inc. lessened its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 77.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 82,634 shares of the insurance provider's stock after selling 287,132 shares during the period. Principal Financial Group Inc. owned about 0.23% of The Hanover Insurance Group worth $12,780,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Private Advisor Group LLC acquired a new position in shares of The Hanover Insurance Group in the 3rd quarter valued at $222,000. Wealth Enhancement Advisory Services LLC lifted its stake in The Hanover Insurance Group by 28.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,355 shares of the insurance provider's stock valued at $941,000 after buying an additional 1,424 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of The Hanover Insurance Group by 1.8% in the third quarter. State of Alaska Department of Revenue now owns 15,537 shares of the insurance provider's stock worth $2,300,000 after buying an additional 280 shares during the period. Nisa Investment Advisors LLC increased its position in shares of The Hanover Insurance Group by 9.9% in the third quarter. Nisa Investment Advisors LLC now owns 13,878 shares of the insurance provider's stock worth $2,055,000 after acquiring an additional 1,250 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of The Hanover Insurance Group by 2.3% during the third quarter. New York State Teachers Retirement System now owns 47,963 shares of the insurance provider's stock valued at $7,104,000 after acquiring an additional 1,082 shares during the period. 86.61% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on THG shares. Keefe, Bruyette & Woods raised their price objective on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the stock a "market perform" rating in a research note on Monday, February 10th. BMO Capital Markets lifted their price target on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Janney Montgomery Scott downgraded 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. Morgan Stanley lifted their target price on The Hanover Insurance Group from $165.00 to $170.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Finally, Barclays raised shares of The Hanover Insurance Group to a "hold" rating in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $175.25.

The Hanover Insurance Group Stock Up 1.3 %

Shares of The Hanover Insurance Group stock traded up $2.23 during trading on Monday, hitting $172.76. 315,238 shares of the stock traded hands, compared to its average volume of 178,997. The stock has a market cap of $6.21 billion, a P/E ratio of 14.81 and a beta of 0.72. The company has a fifty day moving average price of $157.08 and a two-hundred day moving average price of $153.23. The Hanover Insurance Group, Inc. has a twelve month low of $119.66 and a twelve month high of $173.45. 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 Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly 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 net margin of 6.83% and a return on equity of 18.01%. Equities research analysts predict that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, March 14th. The Hanover Insurance Group's payout ratio is 30.80%.

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.