Pinebridge Investments L.P. Boosts Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Pinebridge Investments L.P. grew its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 42.7% during the 4th quarter, Holdings Channel reports. The fund owned 16,936 shares of the insurance provider’s stock after purchasing an additional 5,066 shares during the period. Pinebridge Investments L.P.’s holdings in The Hanover Insurance Group were worth $2,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Altrinsic Global Advisors LLC lifted its position in The Hanover Insurance Group by 0.5% during the fourth quarter. Altrinsic Global Advisors LLC now owns 211,704 shares of the insurance provider’s stock valued at $32,742,000 after purchasing an additional 1,081 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of The Hanover Insurance Group by 803.4% in the 4th quarter. Hsbc Holdings PLC now owns 13,542 shares of the insurance provider’s stock valued at $2,091,000 after buying an additional 12,043 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of The Hanover Insurance Group by 96.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,450 shares of the insurance provider’s stock worth $379,000 after buying an additional 1,200 shares during the last quarter. MML Investors Services LLC grew its holdings in The Hanover Insurance Group by 10.7% during the fourth quarter. MML Investors Services LLC now owns 17,471 shares of the insurance provider’s stock worth $2,702,000 after acquiring an additional 1,692 shares during the period. Finally, MetLife Investment Management LLC raised its position in The Hanover Insurance Group by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 20,307 shares of the insurance provider’s stock valued at $3,141,000 after acquiring an additional 1,714 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Down 1.3 %

NYSE THG opened at $161.72 on Friday. The business has a fifty day moving average price of $164.75 and a 200 day moving average price of $159.23. 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 company has a market cap of $5.81 billion, a P/E ratio of 13.83 and a beta of 0.47. The Hanover Insurance Group, Inc. has a one year low of $119.66 and a one year high of $176.16.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group’s dividend payout ratio is currently 30.80%.

Insider Activity

In other news, CEO John C. Roche sold 301 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $175.00, for a total transaction of $52,675.00. Following the transaction, the chief executive officer now owns 124,414 shares of the company’s stock, valued at approximately $21,772,450. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on THG shares. Morgan Stanley upped their price objective on The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods cut 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 report on Wednesday, April 9th. StockNews.com lowered shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Piper Sandler lifted their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $178.00.

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.