Allspring Global Investments Holdings LLC Sells 130,638 Shares of The Hanover Insurance Group, Inc. $THG

Allspring Global Investments Holdings LLC lessened its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 23.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 431,557 shares of the insurance provider’s stock after selling 130,638 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.21% of The Hanover Insurance Group worth $77,275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in THG. Exchange Traded Concepts LLC lifted its stake in The Hanover Insurance Group by 22.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,551 shares of the insurance provider’s stock worth $1,015,000 after acquiring an additional 1,007 shares during the period. Pallas Capital Advisors LLC boosted its stake in The Hanover Insurance Group by 12.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,297 shares of the insurance provider’s stock valued at $420,000 after acquiring an additional 259 shares in the last quarter. Trust Point Inc. grew its holdings in The Hanover Insurance Group by 13.1% in the fourth quarter. Trust Point Inc. now owns 2,868 shares of the insurance provider’s stock worth $524,000 after purchasing an additional 332 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in The Hanover Insurance Group by 14.3% in the fourth quarter. CoreCap Advisors LLC now owns 26,037 shares of the insurance provider’s stock worth $4,759,000 after acquiring an additional 3,256 shares in the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in The Hanover Insurance Group in the fourth quarter worth about $497,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of NYSE THG opened at $173.30 on Wednesday. The company’s fifty day moving average price is $173.87 and its 200 day moving average price is $176.96. The Hanover Insurance Group, Inc. has a 1 year low of $147.76 and a 1 year high of $188.18. The company has a market capitalization of $6.10 billion, a PE ratio of 9.54 and a beta of 0.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 0.44.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Friday, February 20th. The insurance provider reported $5.46 earnings per share for the quarter. The company had revenue of $1.67 billion during the quarter. The Hanover Insurance Group had a return on equity of 21.00% and a net margin of 10.05%. On average, research analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.2%. The Hanover Insurance Group’s payout ratio is currently 20.91%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Keefe, Bruyette & Woods raised their target price on The Hanover Insurance Group from $207.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and an average price target of $199.50.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Richard W. Lavey sold 24,420 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $178.92, for a total transaction of $4,369,226.40. Following the completion of the sale, the executive vice president owned 32,174 shares in the company, valued at $5,756,572.08. This trade represents a 43.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane D. Carlin sold 1,200 shares of The Hanover Insurance Group stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $180.91, for a total transaction of $217,092.00. Following the sale, the director directly owned 2,423 shares in the company, valued at approximately $438,344.93. The trade was a 33.12% decrease in their position. The SEC filing for this sale provides additional information. 2.50% of the stock is owned by insiders.

About The Hanover Insurance Group

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.