JPMorgan Chase & Co. Has $10.24 Million Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

JPMorgan Chase & Co. reduced its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 19.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,165 shares of the insurance provider’s stock after selling 17,047 shares during the period. JPMorgan Chase & Co. owned 0.19% of The Hanover Insurance Group worth $10,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of The Hanover Insurance Group during the second quarter worth approximately $25,000. True Wealth Design LLC bought a new stake in The Hanover Insurance Group during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new position in The Hanover Insurance Group during the third quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of The Hanover Insurance Group in the third quarter valued at $30,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of The Hanover Insurance Group by 64.9% during the second quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock valued at $54,000 after buying an additional 168 shares during the last quarter. Institutional investors own 86.61% of the company’s stock.

Analysts Set New Price Targets

THG has been the topic of a number of analyst reports. Morgan Stanley began coverage on shares of The Hanover Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 target price on the stock. Bank of America increased their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their target price on The Hanover Insurance Group from $170.00 to $176.00 and gave the company a “market perform” rating in a report on Friday. Piper Sandler upped their price target on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target for the company. in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.88.

The Hanover Insurance Group Stock Performance

Shares of THG opened at $147.33 on Monday. The stock has a 50 day moving average of $157.59 and a 200 day moving average of $146.12. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 14.62 and a beta of 0.72. The Hanover Insurance Group, Inc. has a 12 month low of $119.66 and a 12 month high of $166.13. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.27.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.40. The firm 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 business’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.90 dividend. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.60 annualized dividend and a yield of 2.44%. The Hanover Insurance Group’s payout ratio is currently 35.71%.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Jeffrey M. Farber sold 6,114 shares of The Hanover Insurance Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $162.36, for a total value of $992,669.04. Following the completion of the sale, the executive vice president now owns 54,091 shares of the company’s stock, valued at approximately $8,782,214.76. This trade represents a 10.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 28,900 shares of company stock worth $4,534,151 over the last three months. 2.40% of the stock is currently owned by insiders.

The Hanover Insurance Group Company 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.