Hsbc Holdings PLC Lowers Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Hsbc Holdings PLC reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 82.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,162 shares of the insurance provider’s stock after selling 24,230 shares during the period. Hsbc Holdings PLC’s holdings in The Hanover Insurance Group were worth $627,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Associates Ltd. increased its holdings in The Hanover Insurance Group by 1.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 14,450 shares of the insurance provider’s stock valued at $1,604,000 after acquiring an additional 224 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of The Hanover Insurance Group by 3.0% in the third quarter. Brown Advisory Inc. now owns 253,367 shares of the insurance provider’s stock worth $28,119,000 after buying an additional 7,273 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The Hanover Insurance Group by 27.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,747 shares of the insurance provider’s stock valued at $860,000 after buying an additional 1,658 shares during the last quarter. Mackenzie Financial Corp grew its holdings in The Hanover Insurance Group by 60.1% during the 3rd quarter. Mackenzie Financial Corp now owns 5,129 shares of the insurance provider’s stock valued at $566,000 after buying an additional 1,925 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in The Hanover Insurance Group in the 3rd quarter worth approximately $455,000. Institutional investors own 86.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on THG shares. Keefe, Bruyette & Woods raised their target price on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Piper Sandler reissued an “overweight” rating and issued a $147.00 price objective on shares of The Hanover Insurance Group in a research note on Monday, April 1st. JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of The Hanover Insurance Group in a research report on Monday, April 15th. StockNews.com upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Finally, Oppenheimer boosted their price objective on The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

The Hanover Insurance Group Trading Up 2.3 %

Shares of The Hanover Insurance Group stock traded up $2.96 during trading on Friday, hitting $133.64. The stock had a trading volume of 252,072 shares, compared to its average volume of 178,011. The Hanover Insurance Group, Inc. has a 12 month low of $103.82 and a 12 month high of $138.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.38 and a quick ratio of 0.39. The firm’s fifty day simple moving average is $130.71 and its 200-day simple moving average is $126.42. The stock has a market cap of $4.80 billion, a PE ratio of 29.98 and a beta of 0.67.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.62. The Hanover Insurance Group had a net margin of 2.67% and a return on equity of 7.00%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.56 billion. As a group, sell-side analysts expect that The Hanover Insurance Group, Inc. will post 10.03 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.40 annualized dividend and a dividend yield of 2.54%. The Hanover Insurance Group’s payout ratio is 76.23%.

The Hanover Insurance Group 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.