Jacobs Levy Equity Management Inc. Sells 8,875 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in The Hanover Insurance Group by 2.7%, now holding approximately 0.88% of the company, valued at $54.95 million.
• The Hanover Insurance Group reported a quarterly earnings per share (EPS) of $4.35, exceeding estimates by $1.28, and the revenue for the quarter was $1.58 billion.
• The company announced a $0.90 quarterly dividend which will be paid on September 26th, with an annualized yield of 2.0% and a dividend payout ratio of 23.70%.

Jacobs Levy Equity Management Inc. decreased its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,886 shares of the insurance provider's stock after selling 8,875 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.88% of The Hanover Insurance Group worth $54,948,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. HM Payson & Co. increased its holdings in The Hanover Insurance Group by 6.7% in the first quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider's stock valued at $185,000 after purchasing an additional 67 shares during the last quarter. Evergreen Capital Management LLC grew its stake in The Hanover Insurance Group by 3.8% in the first quarter. Evergreen Capital Management LLC now owns 1,811 shares of the insurance provider's stock valued at $315,000 after acquiring an additional 67 shares during the period. Intrust Bank NA grew its stake in The Hanover Insurance Group by 1.8% in the first quarter. Intrust Bank NA now owns 4,886 shares of the insurance provider's stock valued at $850,000 after acquiring an additional 85 shares during the period. State of Michigan Retirement System grew its stake in The Hanover Insurance Group by 1.2% in the first quarter. State of Michigan Retirement System now owns 8,632 shares of the insurance provider's stock valued at $1,502,000 after acquiring an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in The Hanover Insurance Group by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the insurance provider's stock valued at $1,757,000 after acquiring an additional 100 shares during the period. Institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Down 0.6%

NYSE THG traded down $1.11 during trading hours on Wednesday, hitting $178.19. 148,661 shares of the company traded hands, compared to its average volume of 243,734. The business's 50-day moving average is $169.61 and its 200-day moving average is $168.01. The Hanover Insurance Group, Inc. has a twelve month low of $142.48 and a twelve month high of $181.38. 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 stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 11.73 and a beta of 0.46.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.07 by $1.28. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The business's quarterly revenue was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.60 annualized dividend and a yield of 2.0%. The Hanover Insurance Group's dividend payout ratio is 23.70%.

Analyst Ratings Changes

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

The Hanover Insurance Group 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.