The Hanover Insurance Group, Inc. (NYSE:THG) Shares Sold by Panagora Asset Management Inc.

by · The Markets Daily

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Panagora Asset Management Inc. lowered its holdings in The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 90.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,286 shares of the insurance provider’s stock after selling 49,852 shares during the period. Panagora Asset Management Inc.’s holdings in The Hanover Insurance Group were worth $597,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in The Hanover Insurance Group by 0.3% in the third quarter. Vanguard Group Inc. now owns 3,690,436 shares of the insurance provider’s stock worth $472,893,000 after acquiring an additional 10,204 shares during the last quarter. BlackRock Inc. lifted its holdings in The Hanover Insurance Group by 1.6% in the first quarter. BlackRock Inc. now owns 3,235,297 shares of the insurance provider’s stock worth $483,743,000 after acquiring an additional 50,073 shares during the last quarter. Franklin Resources Inc. lifted its holdings in The Hanover Insurance Group by 7.6% in the second quarter. Franklin Resources Inc. now owns 1,428,403 shares of the insurance provider’s stock worth $161,452,000 after acquiring an additional 100,515 shares during the last quarter. State Street Corp lifted its holdings in The Hanover Insurance Group by 0.8% in the first quarter. State Street Corp now owns 1,136,855 shares of the insurance provider’s stock worth $146,086,000 after acquiring an additional 9,252 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in The Hanover Insurance Group by 4.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,117,835 shares of the insurance provider’s stock worth $126,349,000 after acquiring an additional 43,664 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on THG shares. StockNews.com started coverage on The Hanover Insurance Group in a report on Thursday, October 5th. They set a “hold” rating on the stock. Piper Sandler lifted their price target on The Hanover Insurance Group from $138.00 to $143.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Keefe, Bruyette & Woods cut their price target on The Hanover Insurance Group from $124.00 to $120.00 and set a “market perform” rating on the stock in a report on Tuesday, August 15th. BMO Capital Markets raised The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $125.00 to $126.00 in a report on Thursday, August 31st. Finally, Oppenheimer began coverage on The Hanover Insurance Group in a report on Thursday, November 16th. They set an “outperform” rating and a $135.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $134.00.

View Our Latest Stock Report on THG

The Hanover Insurance Group Trading Up 0.8 %

Shares of NYSE:THG opened at $127.84 on Wednesday. The firm has a fifty day moving average of $116.79 and a two-hundred day moving average of $113.20. The firm has a market capitalization of $4.57 billion, a P/E ratio of -53.94, a price-to-earnings-growth ratio of 4.22 and a beta of 0.62. The Hanover Insurance Group, Inc. has a 12-month low of $103.82 and a 12-month high of $148.78. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.37.

The Hanover Insurance Group (NYSE:THG – Get Free Report) last issued its earnings results on Wednesday, November 1st. The insurance provider reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a negative net margin of 1.42% and a negative return on equity of 4.16%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. On average, equities analysts expect that The Hanover Insurance Group, Inc. will post 0.81 EPS for the current fiscal year.

About The Hanover Insurance Group

(Free Report)

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.

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