Brown Advisory Inc. Cuts Stock Holdings in The Hanover Insurance Group, Inc. $THG

Key Points

• Brown Advisory Inc. cut its stake in The Hanover Insurance Group by 26.7% in the fourth quarter, selling 67,021 shares and ending with 183,815 shares valued at about $33.6 million.
• Company insiders have been selling shares, including EVP Dennis Francis Kerrigan and CEO John C. Roche, with total insider sales over the last 90 days reaching 29,508 shares worth $5.7 million.
• The Hanover posted strong results and returned capital to shareholders, beating earnings and revenue estimates last quarter and authorizing a new $700 million stock buyback, while also ঘোষণাing a quarterly dividend of $0.95 per share.

Brown Advisory Inc. trimmed its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 26.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 183,815 shares of the insurance provider's stock after selling 67,021 shares during the period. Brown Advisory Inc. owned 0.52% of The Hanover Insurance Group worth $33,596,000 at the end of the most recent quarter.

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

Insider Transactions at The Hanover Insurance Group

In other news, EVP Dennis Francis Kerrigan sold 6,262 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total value of $1,208,503.38. Following the completion of the sale, the executive vice president owned 11,988 shares in the company, valued at approximately $2,313,564.12. This trade represents a 34.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Roche sold 8,358 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 141,011 shares of the company's stock, valued at $27,319,471.14. This trade represents a 5.60% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of The Hanover Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, May 22nd. Royal Bank Of Canada increased their price objective on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. Morgan Stanley set a $195.00 price objective on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Oppenheimer increased 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. Finally, Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and a consensus price target of $207.00.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $198.19 on Tuesday. The firm has a 50-day moving average price of $186.63 and a 200-day moving average price of $180.19. The firm has a market capitalization of $6.93 billion, a PE ratio of 9.97 and a beta of 0.30. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 12-month low of $160.70 and a 12-month high of $199.59.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $1.11. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $3.87 EPS. As a group, equities research analysts forecast that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current year.

The Hanover Insurance Group announced that its board has initiated a stock buyback program on Wednesday, May 13th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, June 12th. The Hanover Insurance Group's dividend payout ratio (DPR) is 19.12%.

The Hanover Insurance Group 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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