Geode Capital Management LLC Grows Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Geode Capital Management LLC grew its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 2.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 660,272 shares of the insurance provider’s stock after buying an additional 16,800 shares during the period. Geode Capital Management LLC owned approximately 1.83% of The Hanover Insurance Group worth $97,816,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in The Hanover Insurance Group by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,484,592 shares of the insurance provider’s stock worth $219,883,000 after acquiring an additional 143,339 shares during the last quarter. State Street Corp raised its holdings in The Hanover Insurance Group by 0.3% during the 3rd quarter. State Street Corp now owns 1,239,701 shares of the insurance provider’s stock valued at $183,612,000 after buying an additional 3,780 shares during the period. Allspring Global Investments Holdings LLC lifted its position in The Hanover Insurance Group by 0.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider’s stock worth $147,667,000 after buying an additional 4,717 shares during the last quarter. American Century Companies Inc. boosted its stake in The Hanover Insurance Group by 4.3% during the second quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider’s stock worth $100,607,000 after buying an additional 33,249 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of The Hanover Insurance Group by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider’s stock worth $100,111,000 after acquiring an additional 30,536 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Jeffrey M. Farber sold 4,800 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $150.41, for a total transaction of $721,968.00. Following the sale, the executive vice president now directly owns 80,790 shares of the company’s stock, valued at approximately $12,151,623.90. This trade represents a 5.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 29,051 shares of company stock worth $4,556,803. 2.40% of the stock is owned by company insiders.

The Hanover Insurance Group Stock Down 1.3 %

THG stock opened at $150.10 on Thursday. The firm has a 50 day moving average of $156.41 and a 200 day moving average of $142.69. The stock has a market capitalization of $5.41 billion, a PE ratio of 14.89 and a beta of 0.71. The Hanover Insurance Group, Inc. has a 52 week low of $119.36 and a 52 week high of $166.13. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.67 billion. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 11.41 earnings per share for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.90 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.40%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s dividend payout ratio is currently 35.71%.

Analyst Upgrades and Downgrades

THG has been the topic of a number of recent analyst reports. Bank of America increased their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Janney Montgomery Scott cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective for the company. in a report on Thursday, November 21st. Piper Sandler increased their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley assumed coverage on shares of The Hanover Insurance Group in a research note on Thursday, December 5th. They set an “equal weight” rating and a $170.00 target price for the company. Finally, JMP Securities lifted their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.29.

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.