Hsbc Holdings PLC Has $3.71 Million Position in The Hanover Insurance Group, Inc. $THG

Key Points

• Hsbc Holdings PLC increased its holdings in The Hanover Insurance Group by 57.5%, owning 21,332 shares worth approximately $3.71 million as of the latest quarter.
• The Hanover Insurance Group reported an earnings per share (EPS) of $4.35 for the last quarter, surpassing the consensus estimate of $3.07, and showcased a revenue of $1.58 billion.
• Analysts have given The Hanover Insurance Group a consensus rating of "Moderate Buy" with an average price target of $185.13, following several price target increases from major firms.

Hsbc Holdings PLC raised its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 57.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,332 shares of the insurance provider's stock after buying an additional 7,790 shares during the period. Hsbc Holdings PLC owned 0.06% of The Hanover Insurance Group worth $3,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in THG. Clearstead Trust LLC acquired a new stake in The Hanover Insurance Group in the 1st quarter valued at $27,000. True Wealth Design LLC increased its stake in The Hanover Insurance Group by 81.7% in the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock valued at $47,000 after buying an additional 138 shares during the last quarter. Versant Capital Management Inc increased its stake in The Hanover Insurance Group by 331.4% in the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock valued at $53,000 after buying an additional 232 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in The Hanover Insurance Group in the 1st quarter valued at $53,000. Finally, GAMMA Investing LLC increased its stake in The Hanover Insurance Group by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider's stock valued at $87,000 after buying an additional 160 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $172.99 on Wednesday. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 11.39 and a beta of 0.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37. The company has a 50-day simple moving average of $167.94 and a 200 day simple moving average of $166.92. The Hanover Insurance Group, Inc. has a 52 week low of $136.22 and a 52 week high of $178.68.

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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The Hanover Insurance Group's revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 EPS. On average, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The Hanover Insurance Group's payout ratio is presently 23.70%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on THG shares. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a research report on Wednesday, July 9th. Morgan Stanley lifted their price objective on shares of The Hanover Insurance Group from $170.00 to $185.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. JMP Securities set a $205.00 price objective on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Finally, Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $185.13.

The Hanover Insurance Group 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.

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