Shell Asset Management Co. Has $542,000 Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Posted by Defense World Staff on May 5th, 2023

Shell Asset Management Co. decreased its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) by 19.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,014 shares of the insurance provider’s stock after selling 968 shares during the quarter. Shell Asset Management Co.’s holdings in The Hanover Insurance Group were worth $542,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of The Hanover Insurance Group by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,690,436 shares of the insurance provider’s stock worth $472,893,000 after purchasing an additional 10,204 shares during the last quarter. BlackRock Inc. increased its holdings in The Hanover Insurance Group by 1.6% during the first quarter. BlackRock Inc. now owns 3,235,297 shares of the insurance provider’s stock worth $483,743,000 after buying an additional 50,073 shares during the last quarter. State Street Corp raised its position in The Hanover Insurance Group by 0.6% during the third quarter. State Street Corp now owns 1,105,729 shares of the insurance provider’s stock worth $141,688,000 after acquiring an additional 6,529 shares in the last quarter. Alliancebernstein L.P. lifted its stake in The Hanover Insurance Group by 9.7% in the third quarter. Alliancebernstein L.P. now owns 1,029,102 shares of the insurance provider’s stock valued at $131,869,000 after acquiring an additional 91,418 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in The Hanover Insurance Group by 15.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 945,898 shares of the insurance provider’s stock valued at $127,819,000 after acquiring an additional 126,287 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of The Hanover Insurance Group in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods dropped their price objective on The Hanover Insurance Group from $148.00 to $141.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 18th. JMP Securities reiterated a “market outperform” rating and set a $170.00 target price on shares of The Hanover Insurance Group in a research note on Friday, February 3rd. BMO Capital Markets started coverage on The Hanover Insurance Group in a report on Thursday, January 19th. They set a “market perform” rating and a $141.00 target price on the stock. Finally, Piper Sandler raised their price target on The Hanover Insurance Group from $153.00 to $159.00 and gave the company a “neutral” rating in a report on Tuesday, April 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $154.17.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $117.65 on Friday. The stock has a 50 day simple moving average of $127.38 and a 200 day simple moving average of $135.07. The stock has a market cap of $4.20 billion, a P/E ratio of 36.65, a PEG ratio of 0.45 and a beta of 0.69. The Hanover Insurance Group, Inc. has a 1-year low of $115.26 and a 1-year high of $151.78. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.34.

The Hanover Insurance Group (NYSE:THG – Get Rating) last posted its earnings results on Tuesday, May 2nd. The insurance provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The Hanover Insurance Group had a return on equity of 7.98% and a net margin of 2.12%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm earned $3.26 earnings per share. Research analysts anticipate that The Hanover Insurance Group, Inc. will post 6.96 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $3.24 annualized dividend and a dividend yield of 2.75%. The Hanover Insurance Group’s dividend payout ratio is presently 100.93%.

Insider Activity

In related news, SVP Warren E. Barnes sold 862 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $138.51, for a total transaction of $119,395.62. Following the sale, the senior vice president now owns 4,075 shares of the company’s stock, valued at $564,428.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by company insiders.

The Hanover Insurance Group Company Profile

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The Hanover Insurance Group, Inc is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Core Commercial, Specialty, Personal Lines and Other. The Core Commercial segment includes commercial multiple peril, commercial automobile, workers compensation and other core commercial coverage, such as general liability, commercial umbrella and monoline property.