Allianz Asset Management GmbH Invests $3.67 Million in The Hanover Insurance Group, Inc. $THG

Key Points

• Allianz Asset Management GmbH invested approximately $3.67 million in The Hanover Insurance Group, acquiring 21,603 shares, which represents 0.06% of the company's stock as of the latest reporting period.
• The Hanover Insurance Group has seen significant interest from institutional investors, with a total of 86.61% of its stock owned by them, including increases from multiple firms in early 2023.
• The company has received several positive ratings from analysts, with an average price target of $188.00 and most research firms suggesting a "buy" or "outperform" rating for the stock.

Allianz Asset Management GmbH purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 21,603 shares of the insurance provider's stock, valued at approximately $3,670,000. Allianz Asset Management GmbH owned 0.06% of The Hanover Insurance Group at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of THG. Principal Financial Group Inc. grew its holdings in The Hanover Insurance Group by 0.3% during the first quarter. Principal Financial Group Inc. now owns 82,886 shares of the insurance provider's stock valued at $14,418,000 after purchasing an additional 252 shares during the period. Envestnet Asset Management Inc. increased its stake in The Hanover Insurance Group by 7.3% in the first quarter. Envestnet Asset Management Inc. now owns 112,632 shares of the insurance provider's stock valued at $19,592,000 after purchasing an additional 7,661 shares in the last quarter. Bayforest Capital Ltd increased its stake in The Hanover Insurance Group by 881.5% in the first quarter. Bayforest Capital Ltd now owns 3,926 shares of the insurance provider's stock valued at $683,000 after purchasing an additional 3,526 shares in the last quarter. GAMMA Investing LLC increased its stake in The Hanover Insurance Group by 47.2% in the first quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider's stock valued at $87,000 after purchasing an additional 160 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in The Hanover Insurance Group in the first quarter valued at approximately $3,206,000. Institutional investors and hedge funds own 86.61% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on THG shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of The Hanover Insurance Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price for the company in a research note on Wednesday, July 9th. Citigroup reaffirmed an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. JMP Securities set a $205.00 target price on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Finally, Morgan Stanley upped their target price on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group presently has an average rating of "Moderate Buy" and an average price target of $188.00.

The Hanover Insurance Group Stock Down 0.5%

The Hanover Insurance Group stock opened at $174.32 on Friday. The stock has a market capitalization of $6.24 billion, a PE ratio of 11.48 and a beta of 0.44. The Hanover Insurance Group, Inc. has a twelve month low of $145.17 and a twelve month high of $186.46. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $176.46 and a 200-day moving average of $170.02.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, topping the consensus estimate of $3.07 by $1.28. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The firm's revenue was up 3.1% on a year-over-year basis. On average, equities 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 firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, September 12th. This represents a $3.60 annualized dividend and a yield of 2.1%. The Hanover Insurance Group's dividend payout ratio is presently 23.70%.

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.

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