The Hanover Insurance Group, Inc. (NYSE:THG) Stock Holdings Lowered by Bank of America Corp DE

Bank of America Corp DE trimmed its position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 19.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 176,271 shares of the insurance provider's stock after selling 42,732 shares during the period. Bank of America Corp DE owned 0.49% of The Hanover Insurance Group worth $27,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of THG. CIBC Private Wealth Group LLC grew its position in shares of The Hanover Insurance Group by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 7,163 shares of the insurance provider's stock worth $1,092,000 after acquiring an additional 65 shares in the last quarter. AMG National Trust Bank lifted its stake in The Hanover Insurance Group by 0.7% during the fourth quarter. AMG National Trust Bank now owns 10,776 shares of the insurance provider's stock worth $1,658,000 after purchasing an additional 71 shares during the last quarter. Ironwood Investment Management LLC boosted its holdings in The Hanover Insurance Group by 0.9% in the fourth quarter. Ironwood Investment Management LLC now owns 9,703 shares of the insurance provider's stock worth $1,501,000 after purchasing an additional 85 shares during the period. Venturi Wealth Management LLC increased its stake in The Hanover Insurance Group by 49.5% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider's stock valued at $42,000 after purchasing an additional 90 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of The Hanover Insurance Group by 4.7% during the fourth quarter. Truist Financial Corp now owns 2,025 shares of the insurance provider's stock worth $313,000 after purchasing an additional 90 shares during the period. 86.61% of the stock is owned by institutional investors.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock traded down $2.38 during mid-day trading on Wednesday, hitting $166.87. 155,896 shares of the company's stock traded hands, compared to its average volume of 207,953. 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 Hanover Insurance Group, Inc. has a one year low of $119.66 and a one year high of $176.16. The firm has a 50 day moving average price of $165.49 and a 200 day moving average price of $161.21. The company has a market cap of $5.99 billion, a PE ratio of 14.27 and a beta of 0.44.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, beating analysts' consensus estimates of $3.58 by $0.29. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.55 billion. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The company's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.08 earnings per share. On average, equities analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, March 14th. The Hanover Insurance Group's dividend payout ratio is currently 29.98%.

Insider Activity

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the completion of the sale, the executive vice president now directly owns 25,864 shares in the company, valued at $4,308,942.40. This represents a 28.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John C. Roche sold 301 shares of The Hanover Insurance Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $175.00, for a total value of $52,675.00. Following the transaction, the chief executive officer now owns 124,414 shares in the company, valued at approximately $21,772,450. This trade represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,027 shares of company stock worth $1,841,309 over the last three months. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on THG. Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $171.00 to $173.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Morgan Stanley upped their target price on The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday. Barclays raised The Hanover Insurance Group to a "hold" rating in a report on Friday, January 24th. JMP Securities boosted their price objective on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, May 1st. Finally, StockNews.com raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $179.50.

The Hanover Insurance Group Company Profile

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.