Arbejdsmarkedets Tillaegspension Has $25.50 Million Holdings in The Hanover Insurance Group, Inc. $THG

Key Points

• Arbejdsmarkedets Tillaegspension increased its stake in The Hanover Insurance Group by 13.2% in the first quarter, bringing its holdings to 147,109 shares worth about $25.5 million.
• Wall Street sentiment remains positive overall, with a Moderate Buy consensus rating and an average price target of $215.43; several analysts recently raised targets, though BMO downgraded the stock to market perform.
• The Hanover reported strong quarterly results, including EPS of $5.25 versus the $4.14 estimate and revenue of $1.70 billion, while also paying a $0.95 quarterly dividend and authorizing a $700 million share buyback.

Arbejdsmarkedets Tillaegspension raised its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,109 shares of the insurance provider's stock after buying an additional 17,142 shares during the period. Arbejdsmarkedets Tillaegspension owned about 0.42% of The Hanover Insurance Group worth $25,501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its position in The Hanover Insurance Group by 61.0% during the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider's stock worth $15,371,000 after acquiring an additional 33,495 shares during the last quarter. NewEdge Advisors LLC boosted its stake in The Hanover Insurance Group by 1,568.9% in the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider's stock worth $131,000 after purchasing an additional 706 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of The Hanover Insurance Group by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider's stock worth $38,052,000 after purchasing an additional 38,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of The Hanover Insurance Group by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider's stock valued at $22,445,000 after buying an additional 7,712 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of The Hanover Insurance Group by 7.7% in the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider's stock valued at $48,155,000 after buying an additional 20,294 shares in the last quarter. Institutional investors own 86.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on THG shares. Citizens Jmp upped their price target on shares of The Hanover Insurance Group from $205.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Friday. Morgan Stanley upped their target price on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Citigroup reaffirmed an "outperform" rating on shares of The Hanover Insurance Group in a report on Friday. Royal Bank Of Canada boosted their target price on The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Finally, BMO Capital Markets cut The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and raised their price target for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $215.43.

The Hanover Insurance Group Stock Down 0.0%

Shares of The Hanover Insurance Group stock opened at $213.94 on Monday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 12 month low of $162.66 and a 12 month high of $225.29. The business has a fifty day simple moving average of $198.76 and a 200 day simple moving average of $183.86. The stock has a market cap of $7.49 billion, a PE ratio of 10.77 and a beta of 0.28.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping 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 company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the business posted $3.87 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts predict that The Hanover Insurance Group, Inc. will post 18.38 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.95 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.8%. The Hanover Insurance Group's payout ratio is presently 19.12%.

The Hanover Insurance Group declared that its board has approved a share buyback program on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Francisco Aristeguieta sold 1,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total transaction of $195,370.00. Following the completion of the transaction, the director owned 4,053 shares in the company, valued at approximately $791,834.61. This represents a 19.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John C. Roche sold 8,358 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the transaction, the chief executive officer owned 141,011 shares of the company's stock, valued at $27,319,471.14. The trade was a 5.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.