Dynamic Technology Lab Private Ltd Buys New Position in The Hanover Insurance Group, Inc. $THG

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in The Hanover Insurance Group, purchasing 4,580 shares valued at approximately $797,000.
• Hedge funds and institutional investors own 86.61% of The Hanover Insurance Group's stock, indicating strong institutional interest in the company.
• The company announced a quarterly dividend of $0.90 per share, representing a yield of 2.0%, with an upcoming payment date on September 26th.

Dynamic Technology Lab Private Ltd acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,580 shares of the insurance provider's stock, valued at approximately $797,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HM Payson & Co. increased its holdings in The Hanover Insurance Group by 6.7% in the first quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider's stock worth $185,000 after purchasing an additional 67 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in The Hanover Insurance Group by 3.8% in the first quarter. Evergreen Capital Management LLC now owns 1,811 shares of the insurance provider's stock worth $315,000 after purchasing an additional 67 shares in the last quarter. Intrust Bank NA increased its holdings in The Hanover Insurance Group by 1.8% in the first quarter. Intrust Bank NA now owns 4,886 shares of the insurance provider's stock worth $850,000 after purchasing an additional 85 shares in the last quarter. State of Michigan Retirement System increased its holdings in The Hanover Insurance Group by 1.2% in the first quarter. State of Michigan Retirement System now owns 8,632 shares of the insurance provider's stock worth $1,502,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in The Hanover Insurance Group by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the insurance provider's stock worth $1,757,000 after purchasing an additional 100 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on THG shares. Keefe, Bruyette & Woods upgraded The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price for the company in a report on Wednesday, July 9th. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a report on Thursday, July 31st. Morgan Stanley lifted their target price on The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group presently has an average rating of "Moderate Buy" and a consensus target price of $185.13.

The Hanover Insurance Group Stock Down 0.9%

Shares of NYSE THG traded down $1.63 during midday trading on Friday, hitting $180.47. 188,938 shares of the stock traded hands, compared to its average volume of 179,579. The company has a market cap of $6.46 billion, a PE ratio of 11.88 and a beta of 0.46. The Hanover Insurance Group, Inc. has a one year low of $142.48 and a one year high of $182.64. The business has a 50 day moving average price of $170.64 and a two-hundred day moving average price of $168.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.07 by $1.28. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 earnings per share. On average, equities analysts predict that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. The Hanover Insurance Group's payout ratio is presently 23.70%.

The Hanover Insurance Group Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.