Amundi Sells 36,933 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• Amundi cut its Hanover Insurance Group stake by 95.4%, selling 36,933 shares and retaining 1,774 shares valued at approximately $380,000. Institutional investors collectively own 86.61% of the company.
• Hanover reported strong quarterly results, with EPS of $5.31 versus the $3.84 consensus and revenue of $1.73 billion, up 4.6% year over year. The stock opened at $232, near its 52-week high of $236.07.
• The company declared a quarterly dividend of $0.95 per share, equal to an annualized $3.80 dividend and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $225.71, while insiders have sold $2.15 million of shares over the past 90 days.

Amundi reduced its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 95.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,774 shares of the insurance provider's stock after selling 36,933 shares during the period. Amundi's holdings in The Hanover Insurance Group were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of The Hanover Insurance Group in the 2nd quarter worth $756,471,000. Norges Bank acquired a new stake in shares of The Hanover Insurance Group during the fourth quarter worth $83,817,000. Bank of New York Mellon Corp bought a new stake in The Hanover Insurance Group in the second quarter valued at about $69,481,000. Bank of America Corp DE acquired a new position in The Hanover Insurance Group in the second quarter valued at about $47,734,000. Finally, Primecap Management Co. CA acquired a new position in The Hanover Insurance Group in the second quarter valued at about $37,844,000. Institutional investors and hedge funds own 86.61% of the company's stock.

The Hanover Insurance Group Price Performance

Shares of THG opened at $232.00 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a 50 day simple moving average of $223.56 and a 200 day simple moving average of $200.27. The Hanover Insurance Group, Inc. has a 52-week low of $166.54 and a 52-week high of $236.07. The firm has a market capitalization of $8.08 billion, a PE ratio of 11.07 and a beta of 0.26.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company posted $4.35 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts predict that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, September 11th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 18.14%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Oppenheimer boosted their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, July 30th. Royal Bank Of Canada lifted their price objective on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. Finally, Morgan Stanley upped 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. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $225.71.

Insiders Place Their Bets

In related news, EVP Dennis Kerrigan sold 2,104 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total value of $467,950.64. Following the sale, the executive vice president directly owned 12,003 shares of the company's stock, valued at approximately $2,669,587.23. The trade was a 14.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares of the company's stock, valued at approximately $525,505. The trade was a 30.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 9,655 shares of company stock worth $2,145,846. 2.80% of the stock is currently owned by company insiders.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its offerings are designed for individuals, families, businesses and specialty-market customers, with a focus on helping policyholders manage risks involving property, automobiles, liability and business operations.

The company's personal lines business includes automobile, homeowners, renters, condominium, umbrella and related insurance products.

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