The Hanover Insurance Group, Inc. $THG Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its THG stake by 39.2% in the third quarter, selling 130,725 shares and retaining 202,795 shares valued at about $44 million. Institutional investors collectively own 86.61% of the insurer.
• Hanover reported quarterly EPS of $5.15, beating estimates of $4.62, while revenue of $1.74 billion fell short of the $1.81 billion consensus.
• The company pays a quarterly dividend of $0.95, equivalent to a 1.5% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $236.62.

Allspring Global Investments Holdings LLC lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 39.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,795 shares of the insurance provider's stock after selling 130,725 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.59% of The Hanover Insurance Group worth $43,994,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of THG. BlackRock Inc. purchased a new stake in shares of The Hanover Insurance Group in the 2nd quarter worth about $756,471,000. Dimensional Fund Advisors LP raised its position in shares of The Hanover Insurance Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider's stock worth $168,179,000 after purchasing an additional 136,998 shares during the last quarter. First Trust Advisors LP raised its position in shares of The Hanover Insurance Group by 3.2% during the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider's stock worth $143,416,000 after purchasing an additional 25,945 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in The Hanover Insurance Group in the 2nd quarter valued at approximately $69,481,000. Finally, Bank of America Corp DE purchased a new stake in The Hanover Insurance Group in the 2nd quarter valued at approximately $47,734,000. Hedge funds and other institutional investors own 86.61% of the company's stock.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Dennis Kerrigan sold 2,104 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the transaction, the executive vice president owned 12,003 shares of the company's stock, valued at approximately $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Willard T. Lee sold 9,946 shares of the company's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $249.14, for a total transaction of $2,477,946.44. Following the transaction, the executive vice president owned 6,004 shares of the company's stock, valued at $1,495,836.56. This represents a 62.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 18,601 shares of company stock worth $4,392,292 over the last ninety days. 2.80% of the stock is owned by corporate insiders.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $248.44 on Thursday. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 11.88 and a beta of 0.24. The Hanover Insurance Group, Inc. has a 12 month low of $166.54 and a 12 month high of $256.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.40 and a quick ratio of 0.40. The stock's 50-day moving average is $229.79 and its 200-day moving average is $203.15.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.53. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.63%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the company earned $5.09 earnings per share. Equities analysts anticipate that The Hanover Insurance Group, Inc. will post 20.80 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a $0.95 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 annualized dividend and a yield of 1.5%. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 18.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on THG shares. Royal Bank Of Canada raised their price target on shares of The Hanover Insurance Group from $235.00 to $245.00 and gave the stock a "sector perform" rating in a research note on Friday, October 30th. Zacks Research raised shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Piper Sandler downgraded shares of The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 price objective on the stock. in a research note on Wednesday, July 15th. Oppenheimer restated an "outperform" rating and set a $260.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold 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 $236.62.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc. is a property and casualty insurer founded in 1852 as the Hanover Fire Insurance Company. Headquartered in Worcester, Massachusetts, it provides insurance products and services primarily in the United States. The company offers personal insurance, including coverage for homes and automobiles, as well as commercial insurance for businesses. Its commercial offerings include coverage for small and midsize businesses and specialty risks. The Hanover distributes its products mainly through independent insurance agents and brokers, working with them to serve individuals, families, and businesses.

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