HANOVER INS GROUP INC THG
COM · Common Stock · CUSIP 410867105
- SectorFinancials
- IndustryFire, Marine & Casualty Insurance
- HeadquartersWorcester, MA
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($43.2m this quarter). Holder counts are more reliable. Shares outstanding: 35.8m as of 2025-07-29, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $169.78. Options: 3 managers hold calls ($477.6k notional), 2 hold puts ($441.7k).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 331 |
| Q4 2022 | 355 |
| Q1 2023 | 349 |
| Q2 2023 | 337 |
| Q3 2023 | 336 |
| Q4 2023 | 343 |
| Q1 2024 | 347 |
| Q2 2024 | 369 |
| Q3 2024 | 377 |
| Q4 2024 | 405 |
| Q1 2025 | 439 |
| Q2 2025 | 434 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 158 | 161 |
| Q4 2023 | 154 | 152 |
| Q1 2024 | 163 | 156 |
| Q2 2024 | 179 | 155 |
| Q3 2024 | 199 | 156 |
| Q4 2024 | 195 | 150 |
| Q1 2025 | 227 | 166 |
| Q2 2025 | 213 | 204 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $666.5k | $0 | 0.00 |
| Q4 2024 | $3.0m | $185.6k | 0.06 |
| Q1 2025 | $956.3k | $469.7k | 0.49 |
| Q2 2025 | $477.6k | $441.7k | 0.92 |
Biggest buyers
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +412.1k |
| ALLIANCEBERNSTEIN L.P. | Added | +339.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Added | +193.0k |
| MILLENNIUM MANAGEMENT LLC | Added | +129.9k |
| AQR CAPITAL MANAGEMENT LLC | Added | +96.0k |
| Balyasny Asset Management L.P. | New | +95.5k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | Added | +94.8k |
| FIRST TRUST ADVISORS LP | Added | +83.5k |
| VANGUARD GROUP INC | Added | +71.1k |
| FMR LLC | Added | +68.0k |
Biggest sellers
| T. Rowe Price Investment Management, Inc. | Reduced | -519.3k |
| FRANKLIN RESOURCES INC | Reduced | -330.6k |
| Boston Trust Walden Corp | Reduced | -172.6k |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -100.6k |
| MORGAN STANLEY | Reduced | -85.2k |
| BlackRock, Inc. | Reduced | -84.0k |
| Freestone Grove Partners LP | Sold out | -82.3k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -75.2k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Reduced | -70.4k |
| Allspring Global Investments Holdings, LLC | Reduced | -69.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $475.6k2.8k shares |
| SIMPLEX TRADING, LLC | Unchanged | $2.0k100 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $441.7k2.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.5% |
| PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution new · filed 2026-08-14 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 1 | $142.1k | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 1 | $178.0k | — |
| Q2 2024 | 0 | — | 2 | $283.9k | — |
| Q3 2024 | 0 | — | 4 | $2.6m | $1.7m |
| Q4 2024 | 0 | — | 3 | $7.5m | — |
| Q1 2025 | 0 | — | 2 | $4.0m | $4.0m |
| Q2 2025 | 0 | — | 3 | $3.5m | $3.3m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-05-23 | Carlin Jane D Director | Sold | $164.0k977 shares |
| 2025-05-07 | Salvatore Bryan J Executive Vice President | Sold plan | $1.8m10.5k shares |
| 2025-04-01 | Roche John C President and CEO, director | Sold plan | $1.6m8.9k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 3.7m $629.6m | Added +71.1k |
| BlackRock, Inc. 0.01% of their portfolio | 3.6m $613.3m | Reduced -84.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 1.7m $288.0m | Added +412.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.07% of their portfolio | 1.3m $219.9m | Reduced -75.2k |
| ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio | 1.3m $217.5m | Added +339.9k |
| STATE STREET CORP 0.01% of their portfolio | 1.3m $215.8m | Added +3.0k |
| FRANKLIN RESOURCES INC 0.04% of their portfolio | 911.4k $154.8m | Reduced -330.6k |
| FULLER & THALER ASSET MANAGEMENT, INC. 0.56% of their portfolio | 902.6k $153.3m | Reduced -5.1k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 790.6k $134.3m | Added +5.4k |
| Allspring Global Investments Holdings, LLC 0.19% of their portfolio | 685.6k $114.7m | Reduced -69.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 681.5k $115.8m | Reduced -1.8k |
| AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio | 657.5k $111.7m | Reduced -30.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.07% of their portfolio | 600.3k $102.0m | Reduced -31.7k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.16% of their portfolio | 558.0k $94.8m | Added +193.0k |
| AQR CAPITAL MANAGEMENT LLC 0.08% of their portfolio | 553.8k $93.2m | Added +96.0k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 551.0k $93.6m | Added +5.1k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 497.4k $84.5m | Added +83.5k |
| LONDON CO OF VIRGINIA 0.45% of their portfolio | 466.7k $79.3m | Reduced -2.6k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.74% of their portfolio | 464.7k $78.9m | Added +94.8k |
| MACQUARIE GROUP LTD 0.10% of their portfolio | 464.4k $78.9m | Added +1.3k |
| NORGES BANK 0.01% of their portfolio | 454.3k $77.2m | Added +11.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 411.8k $69.9m | Added +22.1k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 360.0k $61.2m | Added +14.6k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 357.8k $60.8m | Added +472 |
| Woodline Partners LP 0.31% of their portfolio | 342.0k $58.1m | Reduced -4.3k |
| MORGAN STANLEY 0.00% of their portfolio | 325.8k $55.4m | Reduced -85.2k |
| Invesco Ltd. 0.01% of their portfolio | 283.5k $48.2m | Added +20.3k |
| Markel Group Inc. 0.40% of their portfolio | 281.0k $47.7m | Added +1.0k |
| BROWN ADVISORY INC 0.06% of their portfolio | 258.5k $43.9m | Reduced -17.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 249.3k $42.3m | Added +10.1k |
| FMR LLC 0.00% of their portfolio | 246.6k $41.9m | Added +68.0k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.16% of their portfolio | 245.5k $41.7m | Reduced -70.4k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 229.0k $38.9m | Reduced -14.9k |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 218.3k $37.1m | Added +129.9k |
| ProShare Advisors LLC 0.07% of their portfolio | 202.3k $34.4m | Added +3.2k |
| T. Rowe Price Investment Management, Inc. 0.02% of their portfolio | 201.8k $34.3m | Reduced -519.3k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 188.2k $32.0m | Reduced -30.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 179.6k $30.5m | Added +50.6k |
| Boston Trust Walden Corp 0.21% of their portfolio | 172.8k $29.3m | Reduced -172.6k |
| Lighthouse Investment Partners, LLC 1.14% of their portfolio | 154.7k $26.3m | Added +36.0k |
| Qube Research & Technologies Ltd 0.04% of their portfolio | 151.5k $25.7m | Added +14.7k |
| ALTRINSIC GLOBAL ADVISORS LLC 0.87% of their portfolio | 141.9k $24.1m | Reduced -26.5k |
| California Public Employees Retirement System 0.02% of their portfolio | 140.1k $23.8m | Reduced -15.9k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.08% of their portfolio | 128.6k $21.8m | Unchanged |
| Gotham Asset Management, LLC 0.12% of their portfolio | 116.8k $19.8m | Added +33.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 114.4k $19.4m | Added +1.7k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 113.5k $19.3m | Added +4.3k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 111.1k $18.9m | Reduced -430 |
| Leeward Investments, LLC - MA 0.88% of their portfolio | 97.2k $16.5m | Reduced -39.1k |
| Balyasny Asset Management L.P. 0.04% of their portfolio | 95.5k $16.2m | New |
| Interval Partners, LP 0.37% of their portfolio | 95.2k $16.2m | Added +4.0k |
| NATIXIS ADVISORS, LLC 0.03% of their portfolio | 94.3k $16.0m | Added +15.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 81.4k $13.8m | Reduced -1.5k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.09% of their portfolio | 79.7k $13.5m | Reduced -4.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 78.6k $13.4m | Added +15.5k |
| Aptus Capital Advisors, LLC 0.13% of their portfolio | 77.7k $13.2m | Added +6.8k |
| Legal & General Group Plc 0.00% of their portfolio | 75.4k $12.8m | Added +2.4k |
| UBS Group AG 0.00% of their portfolio | 75.0k $12.7m | Added +1.3k |
| ACADIAN ASSET MANAGEMENT LLC 0.03% of their portfolio | 73.8k $12.5m | Added +6.5k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 73.6k $12.5m | Added +13.8k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 73.2k $12.4m | Reduced -46.2k |
| MARTINGALE ASSET MANAGEMENT L P 0.30% of their portfolio | 72.1k $12.3m | Added +35.9k |
| Swiss National Bank 0.01% of their portfolio | 68.8k $11.7m | Reduced -1.0k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 63.2k $10.7m | Reduced -49.1k |
| CRAWFORD INVESTMENT COUNSEL INC 0.19% of their portfolio | 62.4k $10.6m | Reduced -8.1k |
| NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio | 61.5k $10.3m | Added +35 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 59.3k $10.1m | Added +43.2k |
| HANCOCK WHITNEY CORP 0.18% of their portfolio | 56.4k $9.6m | Added +4.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 52.6k $8.9m | Added +3.5k |
| Quantinno Capital Management LP 0.04% of their portfolio | 52.4k $8.9m | Added +8.9k |
| Sterling Capital Management LLC 0.13% of their portfolio | 52.0k $8.8m | Added +3.0k |
| HENNESSY ADVISORS INC 0.29% of their portfolio | 51.7k $8.8m | New |
| Nuveen, LLC 0.00% of their portfolio | 49.3k $8.4m | Reduced -13.3k |
| TRILLIUM ASSET MANAGEMENT, LLC 0.22% of their portfolio | 48.2k $8.2m | Reduced -2.4k |
| HEARTLAND ADVISORS INC 0.46% of their portfolio | 48.1k $8.2m | Reduced -13.4k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.03% of their portfolio | 47.8k $8.1m | Added +2.0k |
| CONGRESS ASSET MANAGEMENT CO 0.05% of their portfolio | 44.2k $7.5m | Added +3 |
| Northwest & Ethical Investments L.P. 0.19% of their portfolio | 44.0k $7.5m | New |
| Retirement Systems of Alabama 0.03% of their portfolio | 43.9k $7.5m | Added +41 |
| Bridgewater Associates, LP 0.03% of their portfolio | 40.7k $6.9m | Added +9.8k |
| Hodges Capital Management Inc. 0.66% of their portfolio | 40.2k $6.8m | Reduced -3.5k |
| Channing Capital Management, LLC 0.19% of their portfolio | 39.5k $6.7m | Added +10 |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 36.8k $6.3m | Reduced -6.7k |
| Philadelphia Financial Management of San Francisco, LLC 1.38% of their portfolio | 36.8k $6.2m | New |
| Boston Partners 0.01% of their portfolio | 34.9k $5.9m | Added +20.4k |
| BARCLAYS PLC 0.00% of their portfolio | 34.2k $5.8m | Added +2.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 33.3k $5.7m | Unchanged |
| New Age Alpha Advisors, LLC 0.24% of their portfolio | 32.1k $5.4m | Reduced -529 |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.15% of their portfolio | 29.0k $4.9m | Reduced -6.0k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 28.4k $4.8m | Added +19.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 27.6k $4.7m | Reduced -1.7k |
| FJ Capital Management LLC 0.50% of their portfolio | 27.5k $4.7m | Added +20.0k |
| Pathstone Holdings, LLC 0.02% of their portfolio | 25.9k $4.4m | Reduced -2.5k |
| Trexquant Investment LP 0.05% of their portfolio | 25.0k $4.3m | Reduced -30.0k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio | 24.8k $4.2m | Added +350 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 24.4k $4.1m | Reduced -260 |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.07% of their portfolio | 24.2k $4.1m | Reduced -411 |
| Goelzer Investment Management, Inc. 0.22% of their portfolio | 24.1k $4.1m | Reduced -239 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 23.9k $4.1m | Added +1.1k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 23.9k $4.1m | Added +21.4k |