Truist Financial Corp Increases Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Truist Financial Corp increased its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,025 shares of the insurance provider’s stock after purchasing an additional 90 shares during the period. Truist Financial Corp’s holdings in The Hanover Insurance Group were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Sanctuary Advisors LLC lifted its stake in shares of The Hanover Insurance Group by 4.3% during the fourth quarter. Sanctuary Advisors LLC now owns 4,186 shares of the insurance provider’s stock worth $652,000 after buying an additional 173 shares during the period. Principal Securities Inc. raised its stake in The Hanover Insurance Group by 15.4% in the 4th quarter. Principal Securities Inc. now owns 1,315 shares of the insurance provider’s stock worth $203,000 after acquiring an additional 175 shares during the last quarter. Everhart Financial Group Inc. lifted its position in The Hanover Insurance Group by 3.9% during the 4th quarter. Everhart Financial Group Inc. now owns 3,506 shares of the insurance provider’s stock worth $542,000 after acquiring an additional 132 shares during the period. Congress Asset Management Co. grew its stake in The Hanover Insurance Group by 42.5% during the 4th quarter. Congress Asset Management Co. now owns 46,091 shares of the insurance provider’s stock valued at $7,128,000 after purchasing an additional 13,750 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of The Hanover Insurance Group by 2.6% in the fourth quarter. New York State Teachers Retirement System now owns 49,207 shares of the insurance provider’s stock valued at $7,610,000 after purchasing an additional 1,244 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BMO Capital Markets upped their target price on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Janney Montgomery Scott downgraded shares of The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a report on Thursday, November 21st. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Morgan Stanley upped their price target on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on The Hanover Insurance Group from $176.00 to $179.00 and gave the company a “market perform” rating in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, The Hanover Insurance Group presently has an average rating of “Hold” and a consensus target price of $175.25.

The Hanover Insurance Group Price Performance

NYSE:THG opened at $169.35 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The Hanover Insurance Group, Inc. has a 52 week low of $119.66 and a 52 week high of $173.30. The stock’s 50-day moving average price is $157.76 and its 200-day moving average price is $153.75. The stock has a market capitalization of $6.08 billion, a PE ratio of 14.49 and a beta of 0.72.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, beating the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. As a group, equities analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, March 14th. The Hanover Insurance Group’s payout ratio is presently 30.80%.

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.