Hsbc Holdings PLC increased its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 96.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,787 shares of the insurance provider's stock after acquiring an additional 14,633 shares during the period. Hsbc Holdings PLC owned about 0.08% of The Hanover Insurance Group worth $5,470,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in The Hanover Insurance Group in the 3rd quarter worth approximately $26,000. Community Bank N.A. purchased a new stake in shares of The Hanover Insurance Group during the third quarter valued at approximately $27,000. McMillan Office Inc. bought a new position in shares of The Hanover Insurance Group in the fourth quarter worth approximately $31,000. Entrust Financial LLC purchased a new position in shares of The Hanover Insurance Group in the fourth quarter worth $33,000. Finally, Clearstead Advisors LLC increased its stake in shares of The Hanover Insurance Group by 300.0% in the third quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider's stock worth $36,000 after buying an additional 150 shares during the period. 86.61% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Weiss Ratings raised shares of The Hanover Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, May 22nd. Morgan Stanley set a $195.00 price objective on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Wall Street Zen lowered shares of The Hanover Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, BMO Capital Markets cut The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $194.00 to $203.00 in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $207.00.
Get Our Latest Stock Report on THG
Insider Activity at The Hanover Insurance Group
In other The Hanover Insurance Group news, CEO John C. Roche sold 8,358 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total value of $1,619,278.92. Following the sale, the chief executive officer owned 141,011 shares in the company, valued at approximately $27,319,471.14. This represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Denise Lowsley sold 4,175 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $191.73, for a total transaction of $800,472.75. Following the transaction, the executive vice president owned 3,883 shares of the company's stock, valued at $744,487.59. The trade was a 51.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,508 shares of company stock worth $5,704,651 over the last 90 days. 2.80% of the stock is currently owned by insiders.
The Hanover Insurance Group Stock Up 2.6%
Shares of NYSE:THG opened at $212.86 on Friday. The firm has a market capitalization of $7.45 billion, a P/E ratio of 10.71 and a beta of 0.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a 50 day moving average price of $191.39 and a 200-day moving average price of $181.53. The Hanover Insurance Group, Inc. has a 52-week low of $160.70 and a 52-week high of $213.13.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.14 by $1.11. The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.87 earnings per share. As a group, equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group's dividend payout ratio (DPR) is 19.12%.
The Hanover Insurance Group announced that its board has authorized 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 stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.
About The Hanover Insurance Group
(
Free Report)
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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