10,300 Shares in The Hanover Insurance Group, Inc. $THG Acquired by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System initiated a new position in The Hanover Insurance Group, buying 10,300 shares worth about $1.79 million in the first quarter.
• The company reported strong quarterly earnings, with EPS of $5.25 beating estimates and revenue of $1.70 billion topping expectations; revenue also rose 6.1% year over year.
• The Hanover announced a $700 million stock buyback authorization and recently paid a quarterly dividend of $0.95 per share, reflecting continued capital returns to shareholders.

Louisiana State Employees Retirement System bought a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,300 shares of the insurance provider's stock, valued at approximately $1,786,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in shares of The Hanover Insurance Group during the 3rd quarter valued at $26,000. Community Bank N.A. purchased a new stake in shares of The Hanover Insurance Group in the 3rd quarter worth $27,000. McMillan Office Inc. bought a new position in The Hanover Insurance Group in the 4th quarter worth $31,000. Entrust Financial LLC bought a new position in The Hanover Insurance Group in the 4th quarter worth $33,000. Finally, Clearstead Advisors LLC lifted its position in The Hanover Insurance Group by 300.0% during the third quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 150 shares in the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Trading Down 0.2%

Shares of The Hanover Insurance Group stock opened at $214.11 on Wednesday. The Hanover Insurance Group, Inc. has a fifty-two week low of $160.70 and a fifty-two week high of $220.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $7.49 billion, a P/E ratio of 10.78 and a beta of 0.30. The company has a fifty day moving average of $192.76 and a 200 day moving average of $182.04.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same period last year, the firm earned $3.87 earnings per share. The business's quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.95 per share. The ex-dividend date was Friday, June 12th. This represents a $3.80 annualized dividend and a dividend yield of 1.8%. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 19.12%.

The Hanover Insurance Group declared that its board has authorized a stock buyback plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

THG has been the subject of a number of analyst reports. Weiss Ratings upgraded The Hanover Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, May 22nd. Royal Bank Of Canada lifted their price objective on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. Piper Sandler boosted their price objective on The Hanover Insurance Group from $212.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Zacks Research raised shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Finally, Morgan Stanley set a $195.00 target price on shares of The Hanover Insurance Group in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, The Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.00.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Cynthia Egan sold 3,400 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the sale, the director directly owned 9,359 shares of the company's stock, valued at $1,764,171.50. This trade represents a 26.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John C. Roche sold 8,358 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the sale, the chief executive officer directly owned 141,011 shares of the company's stock, valued at approximately $27,319,471.14. This trade represents a 5.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,508 shares of company stock worth $5,704,651 in the last three months. Corporate insiders own 2.80% of the company's stock.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc NYSE: THG is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers' compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.

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