Interval Partners LP Increases Stake in The Hanover Insurance Group, Inc. $THG

Key Points

• Interval Partners LP boosted its stake in The Hanover Insurance Group by 71.7% in the fourth quarter, while several other institutional investors also increased holdings. Institutional ownership remains high at 86.61% of the stock.
• The company reported strong quarterly results, with EPS of $5.25 and revenue of $1.70 billion, both beating analyst estimates. Revenue rose 6.1% year over year, and analysts expect full-year EPS of 18.36.
• The Hanover Insurance Group’s board authorized a $700 million share repurchase program and the company also announced a quarterly dividend of $0.95 per share, payable June 26, reflecting a 1.9% annualized yield.

Interval Partners LP lifted its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 71.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,385 shares of the insurance provider's stock after purchasing an additional 57,787 shares during the quarter. Interval Partners LP owned about 0.39% of The Hanover Insurance Group worth $25,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of THG. Millennium Management LLC increased its holdings in The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider's stock worth $15,371,000 after buying an additional 33,495 shares during the period. NewEdge Advisors LLC increased its holdings in The Hanover Insurance Group by 1,568.9% in the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider's stock worth $131,000 after buying an additional 706 shares during the period. Goldman Sachs Group Inc. increased its holdings in The Hanover Insurance Group by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider's stock worth $38,052,000 after buying an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in The Hanover Insurance Group by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider's stock worth $22,445,000 after buying an additional 7,712 shares during the period. Finally, Invesco Ltd. increased its holdings in The Hanover Insurance Group by 7.7% in the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider's stock worth $48,155,000 after buying an additional 20,294 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hanover Insurance Group

In other news, EVP Denise Lowsley sold 4,175 shares of the firm's 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 sale, the executive vice president owned 3,883 shares of the company's stock, valued at $744,487.59. This trade represents a 51.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Francisco Aristeguieta sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the sale, the director directly owned 4,053 shares in the company, valued at $791,834.61. The trade was a 19.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on THG. Oppenheimer increased their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. Weiss Ratings upgraded shares of The Hanover Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, May 22nd. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Citizens Jmp increased their price target on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a "market outperform" rating in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods increased 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 report on Thursday, May 7th. Two 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.00.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $199.55 on Thursday. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 10.04 and a beta of 0.30. The Hanover Insurance Group, Inc. has a 12 month low of $160.70 and a 12 month high of $201.45. The firm's 50 day simple moving average is $187.58 and its 200-day simple moving average is $180.38. 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 Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $1.11. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations 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 revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $3.87 EPS. Analysts expect that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current year.

The Hanover Insurance Group announced that its board has initiated a share repurchase plan on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.9%. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 19.12%.

The Hanover Insurance Group Company 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.

Want to see what other hedge funds are holding THG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hanover Insurance Group, Inc. (NYSE:THG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.