London Co. of Virginia Sells 62,474 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• London Co. of Virginia reduced its stake in The Hanover Insurance Group by 13.8% in the fourth quarter, selling 62,474 shares and leaving it with 391,468 shares worth about $71.6 million.
• The Hanover Insurance Group reported strong quarterly results, with EPS of $5.25 beating estimates and revenue of $1.70 billion topping forecasts; analysts now have a Moderate Buy consensus and a $207 target price.
• The company announced a $700 million share buyback and a quarterly dividend of $0.95 per share, while insiders also sold shares during the recent quarter.

London Co. of Virginia lessened its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 391,468 shares of the insurance provider's stock after selling 62,474 shares during the quarter. London Co. of Virginia owned about 1.10% of The Hanover Insurance Group worth $71,550,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of THG. Millennium Management LLC boosted its position in shares of The Hanover Insurance Group by 61.0% during the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider's stock valued at $15,371,000 after acquiring an additional 33,495 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of The Hanover Insurance Group by 1,568.9% during the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider's stock valued at $131,000 after acquiring an additional 706 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of The Hanover Insurance Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider's stock valued at $38,052,000 after acquiring an additional 38,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of The Hanover Insurance Group by 6.4% during 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 valued at $22,445,000 after acquiring an additional 7,712 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of The Hanover Insurance Group by 7.7% during the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider's stock valued at $48,155,000 after acquiring an additional 20,294 shares during the last quarter. Institutional investors own 86.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Citizens Jmp raised their price objective on The Hanover Insurance Group from $200.00 to $205.00 and gave the company a "market outperform" rating in a report on Thursday, April 30th. Wall Street Zen cut The Hanover Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Morgan Stanley set a $195.00 price objective on The Hanover Insurance Group in a report on Friday, May 1st. Piper Sandler raised their price objective on The Hanover Insurance Group from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods raised their price objective on The Hanover Insurance Group from $208.00 to $211.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and a consensus target price of $207.00.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Denise Lowsley sold 4,175 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total transaction of $800,472.75. Following the transaction, the executive vice president directly owned 3,883 shares in the company, valued at $744,487.59. This trade represents a 51.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $195,370.00. Following the transaction, the director owned 4,053 shares in the company, valued at approximately $791,834.61. The trade was a 19.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,508 shares of company stock worth $5,704,651 over the last quarter. Company insiders own 2.80% of the company's stock.

The Hanover Insurance Group Price Performance

THG opened at $199.38 on Wednesday. The stock's 50 day simple moving average is $187.10 and its 200 day simple moving average is $180.28. 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, Inc. has a 1 year low of $160.70 and a 1 year high of $201.45. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 10.03 and a beta of 0.30.

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

The Hanover Insurance Group Dividend Announcement

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

The Hanover Insurance Group announced that its Board of Directors has authorized a share buyback program on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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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