Resona Asset Management Co. Ltd. Makes New $1.02 Million Investment in The Hanover Insurance Group, Inc. (NYSE:THG)

Resona Asset Management Co. Ltd. acquired a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 6,587 shares of the insurance provider’s stock, valued at approximately $1,019,000.

A number of other hedge funds have also modified their holdings of THG. Barclays PLC raised its stake in The Hanover Insurance Group by 61.5% during the third quarter. Barclays PLC now owns 27,155 shares of the insurance provider’s stock worth $4,022,000 after acquiring an additional 10,341 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of The Hanover Insurance Group in the 4th quarter worth about $201,000. HighTower Advisors LLC increased its position in shares of The Hanover Insurance Group by 82.4% during the 3rd quarter. HighTower Advisors LLC now owns 11,500 shares of the insurance provider’s stock worth $1,702,000 after purchasing an additional 5,194 shares in the last quarter. Congress Asset Management Co. lifted its holdings 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, Oak Thistle LLC acquired a new position in The Hanover Insurance Group in the fourth quarter valued at about $1,046,000. 86.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods dropped their price target on The Hanover Insurance Group from $179.00 to $171.00 and set a “market perform” rating for the company in a report on Wednesday. Barclays raised The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. BMO Capital Markets raised their target price on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, Piper Sandler upped their price target on shares of The Hanover Insurance Group from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $178.00.

Insider Transactions at The Hanover Insurance Group

In related news, CEO John C. Roche sold 301 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $175.00, for a total transaction of $52,675.00. Following the transaction, the chief executive officer now owns 124,414 shares of the company’s stock, valued at $21,772,450. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

The Hanover Insurance Group Stock Performance

Shares of NYSE:THG opened at $156.08 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.25. The Hanover Insurance Group, Inc. has a 1-year low of $119.66 and a 1-year high of $176.16. The stock has a market capitalization of $5.61 billion, a P/E ratio of 13.35 and a beta of 0.47. The business has a 50-day moving average price of $164.89 and a two-hundred day moving average price of $158.19.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. Equities analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, March 14th. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 30.80%.

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.