Corient Private Wealth LP Makes New $2.48 Million Investment in The Hanover Insurance Group, Inc. $THG

Key Points

• Corient Private Wealth invested approximately $2.48 million in The Hanover Insurance Group during the second quarter, purchasing 11,580 shares. Institutional investors collectively own 86.61% of THG, with Norges Bank also establishing an approximately $83.8 million position.
• Hanover reported strong quarterly results, posting $5.31 in earnings per share versus the $3.84 consensus estimate and revenue of $1.73 billion. Revenue increased 4.6% year over year, while return on equity reached 21.72%.
• The company authorized a $700 million share-repurchase program covering up to 10.6% of outstanding shares and declared a quarterly dividend of $0.95, equivalent to a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $225.71.

Corient Private Wealth LP purchased a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,580 shares of the insurance provider's stock, valued at approximately $2,480,000.

Several other institutional investors have also added to or reduced their stakes in THG. Legato Capital Management LLC purchased a new position in shares of The Hanover Insurance Group during the 4th quarter worth approximately $1,238,000. Intech Investment Management LLC bought a new stake in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $4,926,000. UBS Group AG lifted its position in The Hanover Insurance Group by 58.7% during the 4th quarter. UBS Group AG now owns 149,300 shares of the insurance provider's stock valued at $27,288,000 after acquiring an additional 55,220 shares during the period. LSV Asset Management grew its holdings in The Hanover Insurance Group by 1,586.7% in the fourth quarter. LSV Asset Management now owns 25,300 shares of the insurance provider's stock worth $4,624,000 after purchasing an additional 23,800 shares during the period. Finally, Norges Bank bought a new position in The Hanover Insurance Group during the 4th quarter valued at approximately $83,817,000. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Price Performance

NYSE THG opened at $227.00 on Thursday. The business's fifty day moving average price is $221.08 and its 200-day moving average price is $196.49. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 10.84 and a beta of 0.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $236.07.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The Hanover Insurance Group's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. On average, equities analysts predict that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

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

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 18.14%.

Insider Activity

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of the business's stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dennis Francis Kerrigan sold 6,551 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the sale, the executive vice president directly owned 12,003 shares of the company's stock, valued at $2,650,142.37. The trade was a 35.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,655 shares of company stock worth $2,145,846 over the last three months. Insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, July 30th. BMO Capital Markets cut shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and increased their price target for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. Zacks Research upgraded shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their price target on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, three have given 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 an average price target of $225.71.

About The Hanover Insurance Group

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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