Hsbc Holdings PLC Acquires 14,633 Shares of The Hanover Insurance Group, Inc. $THG

Hsbc Holdings PLC boosted its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 96.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,787 shares of the insurance provider’s stock after acquiring an additional 14,633 shares during the quarter. Hsbc Holdings PLC’s holdings in The Hanover Insurance Group were worth $5,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legato Capital Management LLC bought a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at $1,238,000. Capula Management Ltd bought a new position in shares of The Hanover Insurance Group in the 3rd quarter worth $1,877,000. Intech Investment Management LLC bought a new position in shares of The Hanover Insurance Group in the 4th quarter worth $4,926,000. UBS Group AG grew its stake in shares of The Hanover Insurance Group by 58.7% during the fourth quarter. UBS Group AG now owns 149,300 shares of the insurance provider’s stock worth $27,288,000 after purchasing an additional 55,220 shares during the period. Finally, Norges Bank bought a new stake in The Hanover Insurance Group in the fourth quarter valued at about $83,817,000. 86.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on THG. Oppenheimer increased their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Citizens Jmp upped their price target on The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, April 30th. Morgan Stanley increased their price target on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday. Piper Sandler lifted their price objective on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $212.57.

Insiders Place Their Bets

In related news, EVP Dennis Francis Kerrigan sold 6,262 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total value of $1,208,503.38. Following the completion of the transaction, the executive vice president directly owned 11,988 shares in the company, valued at approximately $2,313,564.12. The trade was a 34.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total value of $195,370.00. Following the sale, the director directly owned 4,053 shares of the company’s stock, valued at approximately $791,834.61. The trade was a 19.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,508 shares of company stock worth $5,704,651 in the last three months. 2.80% of the stock is owned by corporate insiders.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock opened at $213.83 on Friday. The stock’s fifty day simple moving average is $198.04 and its 200 day simple moving average is $183.66. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.48 billion, a PE ratio of 10.76 and a beta of 0.28. The Hanover Insurance Group, Inc. has a 12 month low of $162.66 and a 12 month high of $225.29.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $3.87 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. On average, research analysts predict that The Hanover Insurance Group, Inc. will post 18.38 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s payout ratio is 19.12%.

The Hanover Insurance Group announced that its Board of Directors has approved a share repurchase program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.