Man Group plc Lowers Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Man Group plc lessened its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 34.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,180 shares of the insurance provider's stock after selling 7,404 shares during the period. Man Group plc's holdings in The Hanover Insurance Group were worth $2,193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Barclays PLC boosted its stake in The Hanover Insurance Group by 61.5% during the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider's stock worth $4,022,000 after buying an additional 10,341 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of The Hanover Insurance Group by 3.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,182 shares of the insurance provider's stock worth $801,000 after acquiring an additional 170 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of The Hanover Insurance Group by 1.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 12,583 shares of the insurance provider's stock worth $1,946,000 after purchasing an additional 215 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in The Hanover Insurance Group in the 4th quarter valued at approximately $221,000. Finally, Blue Trust Inc. raised its position in The Hanover Insurance Group by 30.2% in the fourth quarter. Blue Trust Inc. now owns 1,057 shares of the insurance provider's stock valued at $157,000 after purchasing an additional 245 shares during the period. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Bryan J. Salvatore sold 10,526 shares of the firm'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 transaction of $1,753,631.60. Following the transaction, the executive vice president now owns 25,864 shares in the company, valued at $4,308,942.40. This trade represents a 28.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John C. Roche sold 200 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $175.01, for a total value of $35,002.00. Following the completion of the sale, the chief executive officer now owns 124,278 shares of the company's stock, valued at approximately $21,749,892.78. This represents a 0.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,027 shares of company stock valued at $1,841,309. Insiders own 2.50% of the company's stock.

The Hanover Insurance Group Stock Down 1.4%

THG stock traded down $2.43 during trading on Wednesday, hitting $170.82. 64,797 shares of the company's stock were exchanged, compared to its average volume of 245,081. The business has a 50-day moving average price of $165.32 and a two-hundred day moving average price of $161.72. The Hanover Insurance Group, Inc. has a 52-week low of $119.66 and a 52-week high of $176.16. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 14.61 and a beta of 0.44.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, topping the consensus estimate of $3.58 by $0.29. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the business earned $3.08 EPS. The Hanover Insurance Group's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on THG. Piper Sandler raised their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Morgan Stanley lifted their target price on The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods increased their price target on shares of The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Finally, JMP Securities increased their target price on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and an average 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.