Arbejdsmarkedets Tillaegspension Acquires New Stake in The Hanover Insurance Group, Inc. $THG

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter stake in The Hanover Insurance Group, buying 129,967 shares valued at about $23.8 million and representing roughly 0.37% of the company.
• The Hanover reported a strong quarter, with EPS of $5.25 beating estimates and revenue of $1.70 billion topping expectations; revenue also rose 6.1% year over year.
• The company’s board approved a $700 million share buyback, while analysts remain generally positive with a consensus Moderate Buy rating and an average price target of $203.60.

Arbejdsmarkedets Tillaegspension acquired a new stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 129,967 shares of the insurance provider's stock, valued at approximately $23,754,000. Arbejdsmarkedets Tillaegspension owned about 0.37% of The Hanover Insurance Group at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of THG. Crossmark Global Holdings Inc. increased its stake in shares of The Hanover Insurance Group by 3.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider's stock worth $344,000 after purchasing an additional 64 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of The Hanover Insurance Group by 3.4% in the fourth quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider's stock worth $370,000 after purchasing an additional 66 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of The Hanover Insurance Group by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider's stock worth $2,183,000 after purchasing an additional 66 shares in the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of The Hanover Insurance Group by 5.5% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,294 shares of the insurance provider's stock worth $234,000 after purchasing an additional 68 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of The Hanover Insurance Group by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 1,610 shares of the insurance provider's stock worth $294,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 86.61% of the company's stock.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Denise Lowsley sold 1,062 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $188.43, for a total value of $200,112.66. Following the completion of the sale, the executive vice president directly owned 3,883 shares in the company, valued at approximately $731,673.69. The trade was a 21.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Cynthia Egan sold 3,400 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the sale, the director owned 9,359 shares of the company's stock, valued at approximately $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,662 shares of company stock worth $1,058,105. 2.80% of the stock is currently owned by insiders.

The Hanover Insurance Group Trading Up 1.4%

Shares of The Hanover Insurance Group stock opened at $191.90 on Friday. The Hanover Insurance Group, Inc. has a 1 year low of $160.70 and a 1 year high of $193.32. The firm has a market cap of $6.71 billion, a PE ratio of 9.66 and a beta of 0.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The company has a 50 day simple moving average of $178.05 and a two-hundred day simple moving average of $177.85.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business posted $3.87 earnings per share. The Hanover Insurance Group's revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current fiscal year.

The Hanover Insurance Group announced that its board has approved a share buyback plan on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.95 per share. The ex-dividend date was Friday, March 13th. This represents a $3.80 annualized dividend and a yield of 2.0%. The Hanover Insurance Group's payout ratio is presently 19.12%.

Analysts Set New Price Targets

THG has been the subject of several recent research reports. Citizens Jmp lifted their target price on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a "market outperform" rating in a research note on Thursday, April 30th. Morgan Stanley set a $195.00 price objective on shares of The Hanover Insurance Group in a research note on Friday, May 1st. Citigroup reaffirmed an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Weiss Ratings raised shares of The Hanover Insurance Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, May 8th. Finally, Piper Sandler boosted their price objective on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $203.60.

The Hanover Insurance Group Company Profile

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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