Bank of America Corp DE Has $27.26 Million Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Bank of America Corp DE trimmed its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 19.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,271 shares of the insurance provider’s stock after selling 42,732 shares during the quarter. Bank of America Corp DE owned 0.49% of The Hanover Insurance Group worth $27,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in The Hanover Insurance Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,613,952 shares of the insurance provider’s stock valued at $558,934,000 after buying an additional 23,565 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in The Hanover Insurance Group by 0.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,489,391 shares of the insurance provider’s stock valued at $230,349,000 after buying an additional 4,799 shares in the last quarter. Franklin Resources Inc. grew its holdings in The Hanover Insurance Group by 28.6% in the 4th quarter. Franklin Resources Inc. now owns 1,217,919 shares of the insurance provider’s stock valued at $188,363,000 after buying an additional 270,491 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of The Hanover Insurance Group by 4.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,087,786 shares of the insurance provider’s stock worth $168,237,000 after purchasing an additional 43,918 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of The Hanover Insurance Group by 15.7% during the 4th quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider’s stock worth $148,297,000 after purchasing an additional 130,054 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $168.43 on Friday. The stock’s 50-day simple moving average is $165.31 and its 200 day simple moving average is $160.92. The firm has a market capitalization of $6.05 billion, a PE ratio of 14.41 and a beta of 0.44. 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 twelve month low of $119.66 and a twelve month high of $176.16.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.29. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. The Hanover Insurance Group’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $3.08 earnings per share. On average, analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.90 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.60 annualized dividend and a yield of 2.14%. The Hanover Insurance Group’s dividend payout ratio is presently 29.98%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler increased their target price on The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Barclays raised The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Morgan Stanley increased their target price on The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. StockNews.com raised The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods increased their target price on The Hanover Insurance Group from $171.00 to $173.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.50.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, CEO John C. Roche sold 200 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $175.01, for a total value of $35,002.00. Following the completion of the transaction, the chief executive officer now directly owns 124,278 shares in the company, valued at approximately $21,749,892.78. This trade represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $166.60, for a total value of $1,753,631.60. Following the completion of the transaction, the executive vice president now owns 25,864 shares of the company’s stock, valued at $4,308,942.40. This represents a 28.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,027 shares of company stock worth $1,841,309. 2.50% 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.