Deutsche Bank AG purchased a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,407 shares of the insurance provider's stock, valued at approximately $3,513,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in The Hanover Insurance Group in the fourth quarter worth $83,817,000. Alliancebernstein L.P. raised its position in shares of The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider's stock worth $217,505,000 after purchasing an additional 339,896 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of The Hanover Insurance Group in the 2nd quarter worth about $69,481,000. AQR Capital Management LLC boosted its stake in The Hanover Insurance Group by 37.8% in the 3rd quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider's stock worth $137,967,000 after purchasing an additional 209,616 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in The Hanover Insurance Group by 44.1% in the 4th quarter. Invesco Ltd. now owns 646,910 shares of the insurance provider's stock worth $118,236,000 after purchasing an additional 197,930 shares in the last quarter. Institutional investors own 86.61% of the company's stock.
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.
The Hanover Insurance Group Stock Performance
Shares of THG stock opened at $228.40 on Thursday. 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 company has a 50 day moving average price of $218.72 and a 200-day moving average price of $194.60. The Hanover Insurance Group, Inc. has a 52 week low of $166.54 and a 52 week high of $236.07. The firm has a market capitalization of $7.95 billion, a PE ratio of 10.90 and a beta of 0.27.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $3.84 by $1.47. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.35 EPS. As a group, equities research analysts expect that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.
The Hanover Insurance Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
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 issued a $0.95 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The Hanover Insurance Group's dividend payout ratio is currently 18.14%.
Analyst Ratings Changes
Several brokerages have issued reports on THG. Zacks Research raised shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. 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. Piper Sandler downgraded shares of The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 price target for the company. in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, July 30th. Finally, Oppenheimer increased their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Two investment 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $225.71.
Read Our Latest Analysis on THG
The Hanover Insurance Group Profile
(
Free Report)
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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