Nuveen Asset Management LLC Sells 34,366 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Nuveen Asset Management LLC lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 31.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,364 shares of the insurance provider's stock after selling 34,366 shares during the period. Nuveen Asset Management LLC owned about 0.21% of The Hanover Insurance Group worth $11,810,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in THG. Barclays PLC lifted its holdings in shares of The Hanover Insurance Group by 61.5% during the 3rd quarter. Barclays PLC now owns 27,155 shares of the insurance provider's stock worth $4,022,000 after acquiring 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% during 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 period. First Citizens Bank & Trust Co. bought a new stake in shares of The Hanover Insurance Group during the 4th quarter worth approximately $221,000. Blue Trust Inc. lifted its holdings 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 acquiring an additional 245 shares during the period. Finally, KBC Group NV lifted its holdings in shares of The Hanover Insurance Group by 75.1% during the 4th quarter. KBC Group NV now owns 1,684 shares of the insurance provider's stock worth $260,000 after acquiring an additional 722 shares during the period. Institutional investors and hedge funds own 86.61% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction of $35,002.00. Following the completion of the transaction, the chief executive officer now owns 124,278 shares of the company's stock, valued at approximately $21,749,892.78. The trade was a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bryan J. Salvatore sold 10,526 shares of the business'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 completion of the transaction, the executive vice president now directly owns 25,864 shares of the company's stock, valued at approximately $4,308,942.40. This represents a 28.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,027 shares of company stock valued at $1,841,309. Company insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. 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. Morgan Stanley increased their price objective on shares of The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Finally, JMP Securities increased their price objective on shares of The Hanover Insurance Group from $175.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $179.50.

The Hanover Insurance Group Trading Up 1.1%

Shares of THG traded up $1.89 during trading hours on Friday, hitting $176.06. 294,937 shares of the stock were exchanged, compared to its average volume of 211,268. The Hanover Insurance Group, Inc. has a fifty-two week low of $119.66 and a fifty-two week high of $176.71. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $165.45 and a 200-day moving average of $161.95. The firm has a market capitalization of $6.32 billion, a P/E ratio of 15.06 and a beta of 0.44.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.29. The company had revenue of $1.51 billion during 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 Hanover Insurance Group's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.08 earnings per share. On average, research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

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.