Price T Rowe Associates Inc. MD Acquires 2,564 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• Price T Rowe Associates Inc. increased its stake in The Hanover Insurance Group by acquiring an additional 2,564 shares, bringing its ownership to approximately 1.28 million shares, valued at $223.25 million.
• Multiple analysts have given positive ratings for The Hanover Insurance Group, with target prices ranging from $185.00 to $205.00, indicating a consensus of a "Moderate Buy" for the stock.
• The Hanover Insurance Group reported an EPS of $4.35 for the last quarter, surpassing estimates significantly, with a revenue of $1.58 billion, up 3.1% year-over-year.

Price T Rowe Associates Inc. MD grew its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 0.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,283,395 shares of the insurance provider's stock after buying an additional 2,564 shares during the period. Price T Rowe Associates Inc. MD owned approximately 3.57% of The Hanover Insurance Group worth $223,248,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearstead Trust LLC bought a new position in shares of The Hanover Insurance Group during the 1st quarter worth approximately $27,000. Versant Capital Management Inc lifted its holdings in shares of The Hanover Insurance Group by 331.4% in the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock worth $53,000 after purchasing an additional 232 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of The Hanover Insurance Group in the 1st quarter worth $53,000. True Wealth Design LLC lifted its holdings in shares of The Hanover Insurance Group by 81.7% in the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock worth $47,000 after purchasing an additional 138 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of The Hanover Insurance Group by 47.2% in the 1st quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider's stock worth $87,000 after purchasing an additional 160 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on THG shares. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a report on Thursday, July 31st. Wall Street Zen upgraded The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Morgan Stanley increased their target price on The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods upgraded The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a report on Wednesday, July 9th. Finally, Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of "Moderate Buy" and an average target price of $185.13.

The Hanover Insurance Group Trading Up 0.8%

NYSE THG opened at $175.4140 on Friday. The firm has a market capitalization of $6.27 billion, a P/E ratio of 11.55 and a beta of 0.45. The business has a fifty day simple moving average of $167.76 and a 200 day simple moving average of $166.82. The Hanover Insurance Group, Inc. has a 12 month low of $135.49 and a 12 month high of $178.68. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm posted $1.88 EPS. The Hanover Insurance Group's quarterly revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 23.70%.

The Hanover Insurance Group Company 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.

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