Corebridge Financial Inc. Has $6.31 Million Stake in The Hanover Insurance Group, Inc. (NYSE:THG)

Corebridge Financial Inc. reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,770 shares of the insurance provider’s stock after selling 1,780 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of The Hanover Insurance Group worth $6,305,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at $21,797,000. American Century Companies Inc. boosted its position in The Hanover Insurance Group by 15.7% during the fourth quarter. American Century Companies Inc. now owns 958,858 shares of the insurance provider’s stock valued at $148,297,000 after purchasing an additional 130,054 shares during the last quarter. Raymond James Financial Inc. purchased a new position in The Hanover Insurance Group in the fourth quarter valued at about $8,612,000. Point72 Asset Management L.P. increased its position in The Hanover Insurance Group by 40.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 164,130 shares of the insurance provider’s stock worth $24,309,000 after purchasing an additional 47,071 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter worth about $5,276,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Stock Down 1.2 %

THG stock opened at $172.55 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50-day moving average of $163.46 and a two-hundred day moving average of $157.09. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 14.76 and a beta of 0.65. The Hanover Insurance Group, Inc. has a 52-week low of $119.66 and a 52-week high of $176.00.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 research analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group’s payout ratio is currently 30.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on THG shares. BMO Capital Markets increased their price objective on The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Morgan Stanley raised 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. Keefe, Bruyette & Woods upped their price objective on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the stock a “market perform” rating in a report on Monday, February 10th. Finally, Barclays upgraded The Hanover Insurance Group to a “hold” rating in a report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $175.25.

Insider Buying and Selling at The Hanover Insurance Group

In other news, CEO John C. Roche sold 200 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $175.01, for a total transaction of $35,002.00. Following the completion of the transaction, the chief executive officer now owns 124,278 shares of the company’s stock, valued at approximately $21,749,892.78. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

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.