Gotham Asset Management LLC Purchases 15,311 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• Gotham Asset Management LLC increased its position in The Hanover Insurance Group by 22.6% in Q1, holding approximately 82,958 shares valued at $14.43 million.
• Analysts have set a new average price target of $185.13 for The Hanover Insurance Group, with ratings indicating a moderate buy outlook among analysts.
• The company reported earnings of $4.35 EPS for the quarter, surpassing expectations and showing a quarterly revenue increase of 3.1% year-over-year.

Gotham Asset Management LLC boosted its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,958 shares of the insurance provider's stock after purchasing an additional 15,311 shares during the period. Gotham Asset Management LLC owned about 0.23% of The Hanover Insurance Group worth $14,431,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Clearstead Trust LLC bought a new stake in shares of The Hanover Insurance Group in the first quarter valued at $27,000. Versant Capital Management Inc increased its stake in The Hanover Insurance Group by 331.4% in the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock worth $53,000 after acquiring an additional 232 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in The Hanover Insurance Group in the 1st quarter worth about $53,000. True Wealth Design LLC increased its stake in The Hanover Insurance Group by 81.7% in the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock worth $47,000 after acquiring an additional 138 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of The Hanover Insurance Group by 819.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 386 shares of the insurance provider's stock worth $67,000 after purchasing an additional 344 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Stock Performance

NYSE THG traded down $1.11 on Wednesday, hitting $178.19. 218,554 shares of the company traded hands, compared to its average volume of 244,450. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 11.73 and a beta of 0.46. 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 business's 50 day moving average price is $169.61 and its 200-day moving average price is $168.01. The Hanover Insurance Group, Inc. has a 52-week low of $142.48 and a 52-week high of $181.38.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.07 by $1.28. The company had revenue of $1.58 billion for 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 Hanover Insurance Group's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 earnings per share. Equities analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 23.70%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on THG shares. Morgan Stanley upped their price objective 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. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods raised The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a research report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $185.13.

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.