Resona Asset Management Co. Ltd. Makes New Investment in The Hanover Insurance Group, Inc. (NYSE:THG)

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

A number of other hedge funds have also modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in The Hanover Insurance Group in the third quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of The Hanover Insurance Group by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock valued at $33,000 after buying an additional 102 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of The Hanover Insurance Group by 49.5% in the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock valued at $42,000 after buying an additional 90 shares in the last quarter. Eagle Bay Advisors LLC increased its holdings in The Hanover Insurance Group by 502.1% in the fourth quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock worth $44,000 after buying an additional 236 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in The Hanover Insurance Group by 226.0% during the fourth quarter. GAMMA Investing LLC now owns 339 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 235 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Hanover Insurance Group

In related news, CEO John C. Roche sold 301 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now directly owns 124,414 shares in the company, valued at approximately $21,772,450. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on THG shares. Morgan Stanley increased their price target on shares of 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. 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 on the stock in a research report on Wednesday. Barclays raised The Hanover Insurance Group to a “hold” rating in a research report on Friday, January 24th. Piper Sandler increased 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. Finally, BMO Capital Markets boosted their target price on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, The Hanover Insurance Group has an average rating of “Hold” and a consensus target price of $178.00.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $156.08 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $164.89 and a 200 day moving average price of $158.19. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 13.35 and a beta of 0.47. The Hanover Insurance Group, Inc. has a twelve month low of $119.66 and a twelve month high of $176.16.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data 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%. Research analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group’s dividend payout ratio is currently 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.