Madison Asset Management LLC acquired a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,777 shares of the insurance provider's stock, valued at approximately $3,806,000. Madison Asset Management LLC owned 0.05% of The Hanover Insurance Group at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. JPL Wealth Management LLC bought a new stake in The Hanover Insurance Group in the third quarter worth $26,000. McMillan Office Inc. bought a new stake in The Hanover Insurance Group during the 4th quarter valued at about $31,000. Entrust Financial LLC purchased a new position in The Hanover Insurance Group in the fourth quarter worth about $33,000. Clearstead Trust LLC bought a new position in shares of The Hanover Insurance Group in the second quarter worth approximately $36,000. Finally, Root Financial Partners LLC lifted its stake in shares of The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider's stock worth $41,000 after buying an additional 97 shares in the last quarter. 86.61% of the stock is owned by institutional investors.
Insider Activity at The Hanover Insurance Group
In other news, Director Jane D. Carlin sold 1,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the sale, the director owned 2,270 shares of the company's stock, valued at $525,505. This represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by insiders.
The Hanover Insurance Group Stock Performance
THG stock opened at $223.48 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38. The Hanover Insurance Group, Inc. has a 1 year low of $166.54 and a 1 year high of $236.07. The company has a market cap of $7.78 billion, a P/E ratio of 10.67 and a beta of 0.27. The stock's fifty day moving average price is $216.49 and its 200-day moving average price is $193.15.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating analysts' consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the business earned $4.35 earnings per share. The Hanover Insurance Group's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts forecast that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.
The Hanover Insurance Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
The Hanover Insurance Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group's payout ratio is currently 18.14%.
Analyst Ratings Changes
A number of brokerages recently weighed in on THG. BMO Capital Markets lowered shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $194.00 to $203.00 in a report on Tuesday, May 19th. Weiss Ratings upgraded The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, July 30th. Oppenheimer lifted their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. Zacks Research upgraded The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Finally, Piper Sandler downgraded The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 price target on the stock. in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $225.71.
Check Out Our Latest Report on THG
About The Hanover Insurance Group
(
Free Report)
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.
Further Reading
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