Dockside LLC Invests $1.23 Million in The Hanover Insurance Group, Inc. $THG

Key Points

• Dockside LLC opened a new position in The Hanover Insurance Group, buying 6,704 shares worth about $1.23 million in the fourth quarter.
• The company posted strong quarterly results, with EPS of $5.25 versus the $4.14 estimate and revenue of $1.70 billion, while also raising optimism through share repurchases and a quarterly dividend of $0.95 per share.
• Despite the positive fundamentals, insiders have been selling shares, including the CEO and a director, while analysts currently rate THG a Moderate Buy with a consensus target price of $207.

Dockside LLC purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,704 shares of the insurance provider's stock, valued at approximately $1,225,000.

Several other institutional investors have also modified their holdings of THG. Millennium Management LLC grew its position in shares of The Hanover Insurance Group by 61.0% during the first 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 grew its position in shares of The Hanover Insurance Group by 1,568.9% during the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider's stock worth $131,000 after acquiring an additional 706 shares during the last quarter. Goldman Sachs Group Inc. grew its position 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 acquiring an additional 38,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of The Hanover Insurance Group by 6.4% during 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 worth $22,445,000 after acquiring an additional 7,712 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of The Hanover Insurance Group by 7.7% during the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider's stock worth $48,155,000 after acquiring an additional 20,294 shares during the last quarter. Institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $197.91 on Monday. The Hanover Insurance Group, Inc. has a twelve month low of $160.70 and a twelve month high of $199.59. 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 company has a 50-day moving average of $186.18 and a 200-day moving average of $180.10. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 9.96 and a beta of 0.30.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm posted $3.87 EPS. The business's revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current fiscal year.

The Hanover Insurance Group announced that its board has approved a share repurchase plan on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

The Hanover Insurance Group Dividend Announcement

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

Insider Activity at The Hanover Insurance Group

In other news, Director Cynthia Egan sold 3,400 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the transaction, the director owned 9,359 shares in the company, valued at approximately $1,764,171.50. This trade represents a 26.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John C. Roche sold 8,358 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were 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 approximately $27,319,471.14. This trade represents a 5.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 29,508 shares of company stock worth $5,704,651. Company insiders own 2.80% of the company's stock.

Analyst Ratings Changes

THG has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. Oppenheimer increased their target price 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. Wall Street Zen lowered shares of The Hanover Insurance Group from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, May 22nd. Finally, Citizens Jmp increased their target price on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the company a "market outperform" rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $207.00.

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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