Algert Global LLC lessened its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 32.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,870 shares of the insurance provider's stock after selling 15,560 shares during the quarter. Algert Global LLC owned 0.09% of The Hanover Insurance Group worth $6,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of THG. JPL Wealth Management LLC purchased a new stake in The Hanover Insurance Group during the 3rd quarter valued at $26,000. Clearstead Trust LLC bought a new position in shares of The Hanover Insurance Group during the second quarter valued at $36,000. McMillan Office Inc. bought a new position in shares of The Hanover Insurance Group during the fourth quarter valued at $31,000. Entrust Financial LLC purchased a new stake in shares of The Hanover Insurance Group during the fourth quarter valued at $33,000. Finally, Root Financial Partners LLC boosted its position in shares of The Hanover Insurance Group by 69.3% during the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider's stock valued at $41,000 after buying an additional 97 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.
The Hanover Insurance Group Trading Up 0.6%
Shares of THG stock opened at $228.40 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 10.90 and a beta of 0.27. The Hanover Insurance Group, Inc. has a 1 year low of $166.54 and a 1 year high of $236.07. The firm has a fifty day moving average price of $218.72 and a 200-day moving average price of $194.60.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, beating the consensus estimate of $3.84 by $1.47. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The Hanover Insurance Group's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $4.35 earnings per share. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.
The Hanover Insurance Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
The Hanover Insurance Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 18.14%.
Insiders Place Their Bets
In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the sale, the director directly owned 2,270 shares of the company's stock, valued at $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dennis Francis Kerrigan sold 6,551 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total value of $1,446,395.29. Following the completion of the transaction, the executive vice president owned 12,003 shares in the company, valued at $2,650,142.37. The trade was a 35.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,655 shares of company stock worth $2,145,846. 2.80% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
THG has been the topic of a number of recent analyst reports. Piper Sandler downgraded shares of The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 price target on the stock. in a report on Wednesday, July 15th. BMO Capital Markets downgraded shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Zacks Research raised shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Morgan Stanley boosted their target price on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings raised The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $225.71.
View Our Latest Stock Analysis on THG
The Hanover Insurance Group Profile
(
Free Report)
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.
Further Reading
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