Resona Asset Management Co. Ltd. Takes Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Resona Asset Management Co. Ltd. bought a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,587 shares of the insurance provider's stock, valued at approximately $1,019,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pitcairn Co. grew its stake in The Hanover Insurance Group by 5.7% in the fourth quarter. Pitcairn Co. now owns 3,623 shares of the insurance provider's stock worth $560,000 after purchasing an additional 196 shares in the last quarter. Bryce Point Capital LLC bought a new position in The Hanover Insurance Group during the 4th quarter worth approximately $1,207,000. Massachusetts Financial Services Co. MA grew its position in shares of The Hanover Insurance Group by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,489,391 shares of the insurance provider's stock worth $230,349,000 after acquiring an additional 4,799 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of The Hanover Insurance Group by 236.4% in the 4th quarter. Trexquant Investment LP now owns 57,299 shares of the insurance provider's stock valued at $8,862,000 after acquiring an additional 40,265 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at approximately $1,160,000. Institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Performance

THG stock traded up $2.64 during trading on Wednesday, reaching $162.44. 77,620 shares of the company's stock were exchanged, compared to its average volume of 249,097. The firm has a market cap of $5.84 billion, a PE ratio of 13.90 and a beta of 0.47. 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 Hanover Insurance Group, Inc. has a 1-year low of $119.66 and a 1-year high of $176.16. The company's fifty day moving average price is $164.83 and its 200-day moving average price is $158.43.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. On average, research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 30.80%.

Insider Buying and Selling

In other The Hanover Insurance Group news, CEO John C. Roche sold 200 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $175.01, for a total value of $35,002.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on THG. Piper Sandler boosted their target price 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. BMO Capital Markets boosted their price objective on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods dropped their price objective on shares of The Hanover Insurance Group from $179.00 to $171.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Barclays raised The Hanover Insurance Group to a "hold" rating in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $178.00.

About The Hanover Insurance Group

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.