Millennium Management LLC Decreases Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Millennium Management LLC lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 64.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,872 shares of the insurance provider's stock after selling 99,810 shares during the period. Millennium Management LLC owned about 0.15% of The Hanover Insurance Group worth $8,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC increased its stake in The Hanover Insurance Group by 61.5% in the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider's stock worth $4,022,000 after purchasing an additional 10,341 shares during the period. Exchange Traded Concepts LLC increased its holdings in The Hanover Insurance Group by 3.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,182 shares of the insurance provider's stock worth $801,000 after purchasing an additional 170 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of The Hanover Insurance Group in the 4th quarter worth $221,000. Blue Trust Inc. grew its position in shares of The Hanover Insurance Group by 30.2% during the 4th quarter. Blue Trust Inc. now owns 1,057 shares of the insurance provider's stock worth $157,000 after buying an additional 245 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of The Hanover Insurance Group by 75.1% during the fourth quarter. KBC Group NV now owns 1,684 shares of the insurance provider's stock valued at $260,000 after buying an additional 722 shares during the period. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Stock Performance

Shares of THG traded up $0.76 during trading hours on Friday, reaching $174.93. 19,867 shares of the company traded hands, compared to its average volume of 210,345. The stock has a market capitalization of $6.28 billion, a P/E ratio of 14.97 and a beta of 0.44. 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 business has a fifty day moving average price of $165.38 and a 200-day moving average price of $161.87. The Hanover Insurance Group, Inc. has a 12-month low of $119.66 and a 12-month high of $176.16.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced 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 Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the company earned $3.08 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on THG. Keefe, Bruyette & Woods increased 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 note on Wednesday, May 7th. Piper Sandler boosted 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. JMP Securities increased their price target on shares of 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. Wall Street Zen upgraded shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley lifted their price target on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $179.50.

Insiders Place Their Bets

In other news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total value of $1,753,631.60. Following the sale, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John C. Roche sold 301 shares of the business's stock in a transaction on 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 $21,772,450. This represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,027 shares of company stock valued at $1,841,309. 2.50% of the stock is owned by insiders.

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.