Allspring Global Investments Holdings LLC Lowers Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Allspring Global Investments Holdings LLC cut its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 992,826 shares of the insurance provider's stock after selling 75,153 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.78% of The Hanover Insurance Group worth $120,549,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of THG. UMB Bank n.a. increased its position in shares of The Hanover Insurance Group by 55.6% during the 4th quarter. UMB Bank n.a. now owns 235 shares of the insurance provider's stock worth $29,000 after purchasing an additional 84 shares in the last quarter. M&T Bank Corp increased its position in shares of The Hanover Insurance Group by 3.8% during the 3rd quarter. M&T Bank Corp now owns 2,590 shares of the insurance provider's stock worth $333,000 after purchasing an additional 96 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of The Hanover Insurance Group by 1.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,837 shares of the insurance provider's stock worth $759,000 after purchasing an additional 100 shares in the last quarter. Assetmark Inc. increased its position in shares of The Hanover Insurance Group by 13.8% during the 3rd quarter. Assetmark Inc. now owns 933 shares of the insurance provider's stock worth $104,000 after purchasing an additional 113 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of The Hanover Insurance Group by 129.8% during the 4th quarter. Advisors Asset Management Inc. now owns 216 shares of the insurance provider's stock worth $29,000 after purchasing an additional 122 shares in the last quarter. 86.61% of the stock is owned by institutional investors.

The Hanover Insurance Group Price Performance

Shares of NYSE THG traded down $2.62 during trading hours on Tuesday, reaching $130.53. 175,720 shares of the stock traded hands, compared to its average volume of 163,355. The company has a market capitalization of $4.69 billion, a P/E ratio of 138.86 and a beta of 0.67. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.32. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $138.00. The company's 50-day simple moving average is $131.77 and its two-hundred day simple moving average is $124.28.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.51 by $0.62. The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.56 billion. The Hanover Insurance Group had a return on equity of 2.44% and a net margin of 0.59%. Equities research analysts forecast that The Hanover Insurance Group, Inc. will post 10.07 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.40 annualized dividend and a dividend yield of 2.60%. The Hanover Insurance Group's dividend payout ratio is presently 361.70%.

Insider Activity at The Hanover Insurance Group

In related news, SVP Warren E. Barnes sold 500 shares of The Hanover Insurance Group stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $131.14, for a total transaction of $65,570.00. Following the sale, the senior vice president now directly owns 3,612 shares in the company, valued at $473,677.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

THG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $124.00 to $137.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 6th. Oppenheimer reiterated an "outperform" rating and issued a $150.00 price objective on shares of The Hanover Insurance Group in a report on Friday. StockNews.com upgraded shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, January 11th. TheStreet upgraded shares of The Hanover Insurance Group from a "c+" rating to a "b-" rating in a report on Tuesday, February 27th. Finally, Piper Sandler reissued an "overweight" rating and issued a $147.00 price target on shares of The Hanover Insurance Group in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $140.00.

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.