Bank of Nova Scotia Purchases New Position in The Hanover Insurance Group, Inc. $THG

Bank of Nova Scotia acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,455 shares of the insurance provider's stock, valued at approximately $1,596,000.

Other hedge funds have also bought and sold shares of the company. Basecamp Wealth Advisors LLC lifted its position in shares of The Hanover Insurance Group by 19.1% during the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider's stock worth $59,000 after acquiring an additional 55 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of The Hanover Insurance Group by 5.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider's stock valued at $195,000 after purchasing an additional 59 shares in the last quarter. Crossmark Global Holdings Inc. grew its position 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 valued at $344,000 after purchasing an additional 64 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of The Hanover Insurance Group by 3.4% during the 4th quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider's stock valued at $370,000 after purchasing an additional 66 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in The Hanover Insurance Group by 0.6% during the 3rd 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. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 2,104 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 12,003 shares of the company's stock, valued at $2,669,587.23. The trade was a 14.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of the 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 in the company, valued at $525,505. The trade was a 30.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,655 shares of company stock valued at $2,145,846. 2.80% of the stock is currently owned by company insiders.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $228.40 on Thursday. The business's 50-day moving average price is $218.72 and its two-hundred day moving average price is $194.60. The Hanover Insurance Group, Inc. has a twelve month low of $166.54 and a twelve month high of $236.07. The stock has a market cap of $7.95 billion, a P/E ratio of 10.90 and a beta of 0.27. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22.

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

The Hanover Insurance Group announced that its board has authorized a share buyback plan on Wednesday, May 13th that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback plans are typically 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, June 26th. Shareholders 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 yield of 1.7%. The Hanover Insurance Group's payout ratio is presently 18.14%.

Wall Street Analyst Weigh In

Several research analysts have commented on THG shares. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Oppenheimer raised their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods upped their target price on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a "market perform" rating in a report on Thursday, August 6th. Citizens Jmp increased their target price on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 29th. Finally, Morgan Stanley raised their price target on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the company an "equal weight" rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.71.

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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