Allspring Global Investments Holdings LLC Has $150.03 Million Position in The Hanover Insurance Group, Inc. (NYSE:THG)

Allspring Global Investments Holdings LLC cut its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 984,210 shares of the insurance provider’s stock after selling 12,801 shares during the period. Allspring Global Investments Holdings LLC owned about 2.73% of The Hanover Insurance Group worth $150,033,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at about $385,000. CWM LLC boosted its holdings in The Hanover Insurance Group by 14.8% in the third quarter. CWM LLC now owns 11,104 shares of the insurance provider’s stock valued at $1,645,000 after acquiring an additional 1,435 shares during the last quarter. UMB Bank n.a. increased its position in The Hanover Insurance Group by 35.4% during the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 109 shares during the period. Creative Planning increased its position in The Hanover Insurance Group by 20.8% during the 3rd quarter. Creative Planning now owns 12,718 shares of the insurance provider’s stock valued at $1,884,000 after purchasing an additional 2,193 shares during the period. Finally, NBC Securities Inc. raised its holdings in The Hanover Insurance Group by 221.9% during the 3rd quarter. NBC Securities Inc. now owns 589 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 406 shares during the last quarter. 86.61% of the stock is owned by institutional investors.

The Hanover Insurance Group Trading Down 0.7 %

NYSE:THG opened at $160.83 on Wednesday. The Hanover Insurance Group, Inc. has a 52 week low of $119.66 and a 52 week high of $166.98. The firm has a 50-day moving average price of $155.69 and a two-hundred day moving average price of $150.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 13.76 and a beta of 0.72.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, topping 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%. On average, equities analysts expect that The Hanover Insurance Group, Inc. will post 14.11 earnings per share for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.90 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. This represents a $3.60 annualized dividend and a dividend yield of 2.24%. The Hanover Insurance Group’s payout ratio is presently 30.80%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on THG. Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $176.00 to $179.00 and gave the stock a “market perform” rating in a report on Monday. JMP Securities boosted their price objective on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Piper Sandler raised their target price on The Hanover Insurance Group from $162.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Oppenheimer boosted their price target on 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. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, The Hanover Insurance Group has an average rating of “Hold” and an average price target of $175.25.

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.