Corebridge Financial Inc. Sells 1,780 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Corebridge Financial Inc. trimmed its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 40,770 shares of the insurance provider’s stock after selling 1,780 shares during the quarter. Corebridge Financial Inc.’s holdings in The Hanover Insurance Group were worth $6,305,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. AMG National Trust Bank lifted its stake in The Hanover Insurance Group by 0.7% during the fourth quarter. AMG National Trust Bank now owns 10,776 shares of the insurance provider’s stock worth $1,658,000 after purchasing an additional 71 shares during the period. Captrust Financial Advisors raised its holdings in shares of The Hanover Insurance Group by 4.7% in the 3rd quarter. Captrust Financial Advisors now owns 1,822 shares of the insurance provider’s stock worth $270,000 after buying an additional 81 shares in the last quarter. Ironwood Investment Management LLC lifted its position in shares of The Hanover Insurance Group by 0.9% during the 4th quarter. Ironwood Investment Management LLC now owns 9,703 shares of the insurance provider’s stock worth $1,501,000 after buying an additional 85 shares during the period. Venturi Wealth Management LLC boosted its stake in The Hanover Insurance Group by 49.5% in the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock valued at $42,000 after buying an additional 90 shares in the last quarter. Finally, Truist Financial Corp grew its position in The Hanover Insurance Group by 4.7% in the fourth quarter. Truist Financial Corp now owns 2,025 shares of the insurance provider’s stock valued at $313,000 after acquiring an additional 90 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO John C. Roche sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $175.01, for a total value of $35,002.00. Following the sale, the chief executive officer now directly owns 124,278 shares in the company, valued at $21,749,892.78. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

The Hanover Insurance Group Price Performance

THG opened at $172.55 on Friday. The company has a fifty day moving average price of $163.46 and a two-hundred day moving average price of $157.09. 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 capitalization of $6.20 billion, a PE 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 announced its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, beating 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%. As a group, analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on THG. Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $176.00 to $179.00 and gave the company a “market perform” rating in a research note on Monday, February 10th. BMO Capital Markets upped their price target on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Morgan Stanley raised their price objective on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays raised shares of The Hanover Insurance Group to a “hold” rating in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.