Philadelphia Financial Management of San Francisco LLC Invests $6.65 Billion in The Hanover Insurance Group, Inc. $THG

Philadelphia Financial Management of San Francisco LLC purchased a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 31,040 shares of the insurance provider's stock, valued at approximately $6,646,285,000. The Hanover Insurance Group accounts for 1.3% of Philadelphia Financial Management of San Francisco LLC's portfolio, making the stock its 29th biggest position. Philadelphia Financial Management of San Francisco LLC owned 0.09% of The Hanover Insurance Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of THG. Bank of America Corp DE bought a new position in The Hanover Insurance Group in the second quarter valued at about $47,734,000. Man Group plc bought a new position in shares of The Hanover Insurance Group in the 2nd quarter worth approximately $1,750,000. Jupiter Topco LLC purchased a new position in shares of The Hanover Insurance Group in the second quarter worth approximately $21,533,000. Hsbc Holdings PLC bought a new stake in The Hanover Insurance Group during the second quarter valued at approximately $777,000. Finally, Primecap Management Co. CA purchased a new stake in The Hanover Insurance Group during the second quarter valued at approximately $37,844,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Stock Up 0.6%

Shares of NYSE:THG opened at $228.40 on Thursday. The company has a 50-day moving average price of $218.72 and a 200 day moving average price of $194.60. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 12 month low of $166.54 and a 12 month high of $236.07. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 10.90 and a beta of 0.27.

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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $4.35 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities research analysts predict that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

The Hanover Insurance Group declared that its board has approved a share repurchase plan on Wednesday, May 13th that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the insurance provider to buy up to 10.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board 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. Investors of record on Friday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The Hanover Insurance Group's payout ratio is currently 18.14%.

Insider Activity

In related news, EVP Dennis Francis Kerrigan sold 6,551 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total value of $1,446,395.29. Following the sale, the executive vice president directly owned 12,003 shares of the company's stock, valued at $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 is available through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the sale, the director owned 2,270 shares in the company, valued at approximately $525,505. The trade was a 30.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,655 shares of company stock worth $2,145,846 over the last quarter. 2.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on THG shares. Oppenheimer lifted 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 research note on Thursday, May 21st. Weiss Ratings raised The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, July 30th. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. BMO Capital Markets lowered shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. Finally, Zacks Research raised shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $225.71.

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.

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