Envestnet Portfolio Solutions Inc. Boosts Holdings in The Hanover Insurance Group, Inc. $THG

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in The Hanover Insurance Group by 114.1% during the second quarter, owning 8,287 shares worth approximately $1.4 million.
• The Hanover Insurance Group reported earnings per share (EPS) of $4.35 for the quarter, exceeding analysts' estimates of $3.07, while revenue was slightly below expectations at $1.58 billion.
• The company announced a quarterly dividend of $0.90 per share, resulting in an annualized dividend yield of 2.1% and a payout ratio of 23.70%.

Envestnet Portfolio Solutions Inc. grew its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 114.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,287 shares of the insurance provider's stock after purchasing an additional 4,417 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in The Hanover Insurance Group were worth $1,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new position in shares of The Hanover Insurance Group in the second quarter valued at approximately $254,000. Vest Financial LLC boosted its stake in shares of The Hanover Insurance Group by 152.3% in the second quarter. Vest Financial LLC now owns 12,295 shares of the insurance provider's stock valued at $2,089,000 after purchasing an additional 7,422 shares during the period. CWM LLC boosted its stake in shares of The Hanover Insurance Group by 9.3% in the second quarter. CWM LLC now owns 13,504 shares of the insurance provider's stock valued at $2,294,000 after purchasing an additional 1,145 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of The Hanover Insurance Group by 19.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,284 shares of the insurance provider's stock valued at $1,067,000 after purchasing an additional 1,041 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of The Hanover Insurance Group by 9.3% in the second quarter. Blue Trust Inc. now owns 1,445 shares of the insurance provider's stock valued at $245,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Up 1.5%

THG stock opened at $171.01 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11. The Hanover Insurance Group, Inc. has a twelve month low of $145.17 and a twelve month high of $186.46. The company's 50 day moving average is $176.18 and its two-hundred day moving average is $169.74. The stock has a market cap of $6.12 billion, a P/E ratio of 11.26 and a beta of 0.44.

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

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, September 12th. The Hanover Insurance Group's payout ratio is presently 23.70%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upgraded shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price target for the company in a research note on Wednesday, July 9th. JMP Securities set a $205.00 price target on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of The Hanover Insurance Group in a research note on Wednesday, October 8th. Finally, Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $188.00.

About The Hanover Insurance Group

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.

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