International Assets Investment Management LLC Buys 7,347 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• International Assets Investment Management increased its Hanover Insurance Group stake by 222.2% in the third quarter, purchasing 7,347 shares and bringing its holdings to 10,654 shares valued at $2.28 million. Institutional investors collectively own 86.61% of THG.
• THG shares opened at $249.02, near their 52-week high of $250.67. The insurer exceeded quarterly earnings expectations, reporting $5.15 in EPS versus the $4.62 consensus estimate, though revenue of $1.74 billion fell short of forecasts.
• The Hanover declared a quarterly dividend of $0.95 per share, equivalent to $3.80 annually and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $235, while an executive recently sold 6,551 shares.

International Assets Investment Management LLC lifted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 222.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,654 shares of the insurance provider's stock after purchasing an additional 7,347 shares during the quarter. International Assets Investment Management LLC's holdings in The Hanover Insurance Group were worth $2,281,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its position in shares of The Hanover Insurance Group by 96.6% during the 4th quarter. Hsbc Holdings PLC now owns 29,787 shares of the insurance provider's stock valued at $5,470,000 after buying an additional 14,633 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of The Hanover Insurance Group in the second quarter worth approximately $5,393,000. Bank of America Corp DE acquired a new stake in shares of The Hanover Insurance Group in the second quarter worth approximately $47,734,000. Assenagon Asset Management S.A. purchased a new stake in shares of The Hanover Insurance Group during the second quarter worth approximately $7,374,000. Finally, Sei Investments Co. increased its position in shares of The Hanover Insurance Group by 28.8% during the first quarter. Sei Investments Co. now owns 93,736 shares of the insurance provider's stock worth $16,249,000 after purchasing an additional 20,933 shares in the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hanover Insurance Group

In other news, EVP Dennis Kerrigan sold 6,551 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the completion of the transaction, the executive vice president directly owned 12,003 shares in the company, valued at approximately $2,650,142.37. This represents a 35.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by company insiders.

The Hanover Insurance Group Stock Up 2.9%

THG stock opened at $249.02 on Tuesday. The Hanover Insurance Group, Inc. has a one year low of $166.54 and a one year high of $250.67. The firm has a market cap of $8.67 billion, a PE ratio of 10.85 and a beta of 0.23. The firm's 50 day moving average price is $226.94 and its 200-day moving average price is $200.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.53. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.81 billion. The Hanover Insurance Group had a return on equity of 21.39% and a net margin of 10.97%. During the same period in the prior year, the business posted $5.09 earnings per share. On average, equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 20.52 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 11th. The Hanover Insurance Group's dividend payout ratio is 18.17%.

Analyst Ratings Changes

THG has been the topic of a number of research reports. Citizens Jmp raised their price objective on The Hanover Insurance Group from $240.00 to $250.00 and gave the company a "market outperform" rating in a report on Thursday, October 29th. Morgan Stanley increased their target price on shares of The Hanover Insurance Group from $230.00 to $235.00 and gave the company an "equal weight" rating in a research report on Friday. Keefe, Bruyette & Woods raised their price target on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the stock a "market perform" rating in a research note on Friday, September 18th. Royal Bank Of Canada boosted their price target on shares of The Hanover Insurance Group from $235.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, Piper Sandler cut shares of The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 price objective for the company. in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and an average target price of $235.00.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers' compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.

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