Chevy Chase Trust Holdings LLC Acquires 230 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Chevy Chase Trust Holdings LLC boosted its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,676 shares of the insurance provider’s stock after buying an additional 230 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in The Hanover Insurance Group were worth $414,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in The Hanover Insurance Group in the 4th quarter worth approximately $1,074,000. Entropy Technologies LP bought a new stake in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $851,000. Empowered Funds LLC bought a new stake in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $1,292,000. Tectonic Advisors LLC increased its position in shares of The Hanover Insurance Group by 23.6% during the fourth quarter. Tectonic Advisors LLC now owns 3,558 shares of the insurance provider’s stock valued at $550,000 after purchasing an additional 679 shares during the period. Finally, Trust Point Inc. increased its position in shares of The Hanover Insurance Group by 9.1% during the fourth quarter. Trust Point Inc. now owns 2,226 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 185 shares during the period. 86.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Piper Sandler boosted their price objective on The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Janney Montgomery Scott cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price objective on the stock. in a research report on Thursday, November 21st. JMP Securities upped their price target on The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Finally, Oppenheimer upped their price target on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $175.25.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $160.20 on Wednesday. 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 $5.77 billion, a P/E ratio of 13.70 and a beta of 0.72. The business’s fifty day moving average is $155.72 and its two-hundred day moving average is $151.42. The Hanover Insurance Group, Inc. has a 52 week low of $119.66 and a 52 week high of $166.98.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $5.32 EPS for the quarter, topping 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%. Equities research analysts forecast 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 firm also recently disclosed 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 represents a $3.60 dividend on an annualized basis and a yield of 2.25%. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.85. The Hanover Insurance Group’s payout ratio 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.