Hsbc Holdings PLC Increases Stock Position in The Hanover Insurance Group, Inc. $THG

Hsbc Holdings PLC lifted its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 96.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,787 shares of the insurance provider’s stock after purchasing an additional 14,633 shares during the period. Hsbc Holdings PLC’s holdings in The Hanover Insurance Group were worth $5,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in THG. JPL Wealth Management LLC bought a new stake in shares of The Hanover Insurance Group in the third quarter worth $26,000. Community Bank N.A. purchased a new position in The Hanover Insurance Group in the third quarter worth about $27,000. McMillan Office Inc. bought a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at about $31,000. Entrust Financial LLC purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at about $33,000. Finally, Clearstead Advisors LLC lifted its stake in shares of The Hanover Insurance Group by 300.0% in the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 150 shares during the period. Institutional investors own 86.61% of the company’s stock.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Denise Lowsley sold 4,175 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $191.73, for a total transaction of $800,472.75. Following the completion of the transaction, the executive vice president owned 3,883 shares in the company, valued at $744,487.59. This trade represents a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia Egan sold 3,400 shares of The Hanover Insurance Group stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the completion of the transaction, the director owned 9,359 shares of the company’s stock, valued at approximately $1,764,171.50. This represents a 26.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 29,508 shares of company stock worth $5,704,651. Company insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Stock Up 2.6%

Shares of THG opened at $212.86 on Friday. The business’s 50 day moving average is $191.39 and its 200 day moving average is $181.53. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 12-month low of $160.70 and a 12-month high of $213.13. The company has a market capitalization of $7.45 billion, a PE ratio of 10.71 and a beta of 0.30.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company earned $3.87 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts expect that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current fiscal year.

The Hanover Insurance Group declared that its Board of Directors has approved a share buyback program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a yield of 1.8%. The Hanover Insurance Group’s payout ratio is presently 19.12%.

Analyst Ratings Changes

THG has been the topic of several recent research reports. Morgan Stanley set a $195.00 price target on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Wall Street Zen downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Piper Sandler upped their price target on The Hanover Insurance Group from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price objective on The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $207.00.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.