Resona Asset Management Co. Ltd. Invests $1.02 Million in The Hanover Insurance Group, Inc. (NYSE:THG)

Resona Asset Management Co. Ltd. bought a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,587 shares of the insurance provider's stock, valued at approximately $1,019,000.

A number of other large investors have also made changes to their positions in THG. Pitcairn Co. grew its holdings in The Hanover Insurance Group by 5.7% in the 4th quarter. Pitcairn Co. now owns 3,623 shares of the insurance provider's stock valued at $560,000 after buying an additional 196 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $1,207,000. Massachusetts Financial Services Co. MA increased its position in The Hanover Insurance Group by 0.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,489,391 shares of the insurance provider's stock worth $230,349,000 after purchasing an additional 4,799 shares during the last quarter. Trexquant Investment LP boosted its holdings in The Hanover Insurance Group by 236.4% in the 4th quarter. Trexquant Investment LP now owns 57,299 shares of the insurance provider's stock valued at $8,862,000 after purchasing an additional 40,265 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of The Hanover Insurance Group in the 4th quarter valued at approximately $1,160,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO John C. Roche sold 301 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $175.00, for a total value of $52,675.00. Following the sale, the chief executive officer now owns 124,414 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.40% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently commented on THG shares. Piper Sandler upped their price objective on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. BMO Capital Markets upped their price target on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Barclays raised The Hanover Insurance Group to a "hold" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods lowered their target price on shares of The Hanover Insurance Group from $179.00 to $171.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley lifted their price target on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $178.00.

The Hanover Insurance Group Stock Up 0.4 %

Shares of THG stock traded up $0.57 during trading on Tuesday, reaching $159.98. The company's stock had a trading volume of 148,513 shares, compared to its average volume of 200,208. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 13.69 and a beta of 0.47. The Hanover Insurance Group, Inc. has a 1-year low of $119.66 and a 1-year high of $176.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The stock's 50-day moving average price is $164.95 and its 200 day moving average price is $158.42.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted 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%. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, March 14th. The Hanover Insurance Group's payout ratio is presently 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.