Hancock Whitney Corp Makes New Investment in The Hanover Insurance Group, Inc. $THG

Key Points

• Hancock Whitney Corp acquired 52,358 shares of The Hanover Insurance Group, Inc. for approximately $9.1 million in the first quarter, representing a 0.15% ownership stake.
• The Hanover Insurance Group reported earnings per share of $4.35 in its latest quarter, surpassing analysts' expectations, with a revenue of $1.58 billion.
• The company announced a quarterly dividend of $0.90, with a dividend yield of 2.0%, scheduled to be paid on September 26th to shareholders recorded by September 12th.

Hancock Whitney Corp purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 52,358 shares of the insurance provider's stock, valued at approximately $9,108,000. Hancock Whitney Corp owned approximately 0.15% of The Hanover Insurance Group as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC acquired a new position in The Hanover Insurance Group during the first quarter valued at approximately $27,000. True Wealth Design LLC raised its holdings 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 period. Versant Capital Management Inc boosted its holdings in The Hanover Insurance Group by 331.4% during the first quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock valued at $53,000 after acquiring an additional 232 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of The Hanover Insurance Group in the first quarter valued at about $53,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of The Hanover Insurance Group by 819.0% in the first 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 during the period. 86.61% of the stock is owned by institutional investors.

The Hanover Insurance Group Stock Up 0.6%

Shares of NYSE:THG opened at $177.10 on Thursday. The company's fifty day moving average is $168.78 and its 200-day moving average is $167.42. 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, Inc. has a 52 week low of $142.48 and a 52 week high of $178.68. The company has a market capitalization of $6.33 billion, a PE ratio of 11.66 and a beta of 0.46.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (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 net margin of 8.67% and a return on equity of 20.24%. The firm's quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.88 EPS. Equities research analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

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

Wall Street Analyst Weigh In

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

The Hanover Insurance Group Company 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.

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