Bank of Nova Scotia Has $1.59 Million Stock Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Bank of Nova Scotia cut its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 38.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,270 shares of the insurance provider's stock after selling 6,515 shares during the quarter. Bank of Nova Scotia's holdings in The Hanover Insurance Group were worth $1,588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of The Hanover Insurance Group during the fourth quarter worth about $67,928,000. Franklin Resources Inc. lifted its holdings in shares of The Hanover Insurance Group by 28.6% in the 4th quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider's stock valued at $188,363,000 after buying an additional 270,491 shares during the period. Wealthfront Advisers LLC purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at approximately $21,797,000. American Century Companies Inc. grew its holdings in The Hanover Insurance Group by 15.7% during the fourth quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider's stock worth $148,297,000 after acquiring an additional 130,054 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in The Hanover Insurance Group in the fourth quarter worth $8,612,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Hanover Insurance Group news, CEO John C. Roche sold 200 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $175.01, for a total transaction of $35,002.00. Following the completion of the sale, the chief executive officer now owns 124,278 shares in the company, valued at approximately $21,749,892.78. The trade was a 0.16 % decrease in their position. 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 corporate insiders.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays upgraded shares of The Hanover Insurance Group to a "hold" rating in a research report on Friday, January 24th. BMO Capital Markets upped their price target on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Piper Sandler lifted their target price on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their price objective 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 report on Wednesday, April 9th. Finally, Morgan Stanley boosted their price target on The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of "Hold" and a consensus price target of $178.00.

The Hanover Insurance Group Stock Performance

NYSE:THG traded up $0.42 during midday trading on Tuesday, reaching $159.83. The stock had a trading volume of 280,289 shares, compared to its average volume of 200,706. The stock has a market capitalization of $5.74 billion, a P/E ratio of 13.67 and a beta of 0.47. The firm's fifty day simple moving average is $164.83 and its 200-day simple moving average is $158.43. 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 Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (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, equities research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.90 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.25%. The Hanover Insurance Group's dividend payout ratio is presently 30.80%.

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.