Assenagon Asset Management S.A. Makes New Investment in The Hanover Insurance Group, Inc. (NYSE:THG)

Assenagon Asset Management S.A. bought a new position in The Hanover Insurance Group, Inc. (NYSE:THG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 34,114 shares of the insurance provider’s stock, valued at approximately $5,276,000. Assenagon Asset Management S.A. owned 0.09% of The Hanover Insurance Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in shares of The Hanover Insurance Group during the third quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in The Hanover Insurance Group during the third quarter valued at approximately $26,000. Point72 Hong Kong Ltd bought a new position in The Hanover Insurance Group during the second quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB bought a new position in The Hanover Insurance Group during the third quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC raised its position in The Hanover Insurance Group by 502.1% during the fourth quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 236 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Jeffrey M. Farber sold 6,114 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $162.36, for a total transaction of $992,669.04. Following the sale, the executive vice president now directly owns 54,091 shares of the company’s stock, valued at approximately $8,782,214.76. This represents a 10.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 12,100 shares of company stock valued at $1,951,223. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on THG shares. Janney Montgomery Scott lowered shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target on the stock. in a research report on Thursday, November 21st. Bank of America boosted their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Piper Sandler boosted their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley initiated coverage on shares of The Hanover Insurance Group in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $170.00 target price on the stock. Finally, Oppenheimer boosted their target price on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.88.

The Hanover Insurance Group Trading Down 1.5 %

NYSE THG opened at $156.30 on Tuesday. The company has a market cap of $5.63 billion, a PE ratio of 15.51 and a beta of 0.72. 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, Inc. has a 12 month low of $119.66 and a 12 month high of $166.13. The stock has a 50 day moving average of $157.57 and a 200-day moving average of $147.55.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.40. The Hanover Insurance Group had a return on equity of 15.53% and a net margin of 5.92%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business earned $0.19 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 11.43 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.90 per share. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, December 13th. This represents a $3.60 annualized dividend and a yield of 2.30%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 35.71%.

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.