Intech Investment Management LLC Acquires New Position in The Hanover Insurance Group, Inc. $THG

Key Points

• Intech Investment Management LLC opened a new position in The Hanover Insurance Group, buying 26,950 shares valued at about $4.93 million. The filing puts its stake at roughly 0.08% of the company.
• The Hanover reported better-than-expected Q1 earnings, with EPS of $5.25 versus estimates of $4.14 and revenue of $1.70 billion versus $1.58 billion expected. Revenue rose 6.1% year over year, and the company also posted a 21.55% return on equity.
• The board authorized a $700 million share repurchase program, covering up to 10.6% of outstanding shares. Meanwhile, analysts remain generally positive, with a consensus rating of Moderate Buy and a target price of $207.

Intech Investment Management LLC acquired a new stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,950 shares of the insurance provider's stock, valued at approximately $4,926,000. Intech Investment Management LLC owned about 0.08% of The Hanover Insurance Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in The Hanover Insurance Group during the 3rd quarter worth approximately $26,000. Community Bank N.A. purchased a new position in The Hanover Insurance Group during the 3rd quarter worth approximately $27,000. Entrust Financial LLC purchased a new position in The Hanover Insurance Group during the 4th quarter worth approximately $33,000. Clearstead Advisors LLC raised its position in The Hanover Insurance Group by 300.0% during the 3rd 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 last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in The Hanover Insurance Group during the 3rd quarter worth approximately $43,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Price Performance

NYSE:THG opened at $186.51 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 9.39 and a beta of 0.30. The company has a 50 day moving average price of $182.13 and a 200-day moving average price of $179.38. The Hanover Insurance Group, Inc. has a 1-year low of $160.70 and a 1-year high of $199.59.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.14 by $1.11. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.87 EPS. Equities research analysts forecast that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current year.

The Hanover Insurance Group declared that its board has authorized a stock 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 repurchase up to 10.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on THG shares. Zacks Research raised shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods raised their price target on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Morgan Stanley set a $195.00 price target on shares of The Hanover Insurance Group in a research report on Friday, May 1st. BMO Capital Markets lowered shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and raised their price target for the stock from $194.00 to $203.00 in a research report on Tuesday, May 19th. Finally, Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.00.

Insider Activity

In other news, Director Cynthia Egan sold 3,400 shares of The Hanover Insurance Group stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the transaction, the director directly owned 9,359 shares of the company's stock, valued at $1,764,171.50. The trade was a 26.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dennis Francis Kerrigan sold 6,262 shares of The Hanover Insurance Group stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the transaction, the executive vice president directly owned 11,988 shares of the company's stock, valued at approximately $2,313,564.12. This trade represents a 34.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is currently owned by corporate insiders.

The Hanover Insurance Group Profile

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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