ProShare Advisors LLC Sells 25,692 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• ProShare Advisors cut its stake in The Hanover Insurance Group by 12.0% in the fourth quarter, selling 25,692 shares and leaving it with 187,984 shares valued at about $34.4 million.
• The Hanover reported strong quarterly results, posting EPS of $5.25 versus the $4.14 estimate and revenue of $1.70 billion, while also reaffirming healthy profitability with a 21.55% return on equity.
• The company recently announced a $700 million share buyback and paid a quarterly dividend of $0.95 per share, while analysts maintain a generally positive outlook with a consensus rating of “Moderate Buy.”

ProShare Advisors LLC decreased its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,984 shares of the insurance provider's stock after selling 25,692 shares during the period. ProShare Advisors LLC owned 0.53% of The Hanover Insurance Group worth $34,358,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of THG. AlphaQuest LLC boosted its stake in The Hanover Insurance Group by 563.1% during the 3rd quarter. AlphaQuest LLC now owns 13,296 shares of the insurance provider's stock valued at $2,415,000 after purchasing an additional 11,291 shares during the period. Vest Financial LLC increased its position in The Hanover Insurance Group by 84.4% in the 3rd quarter. Vest Financial LLC now owns 22,670 shares of the insurance provider's stock worth $4,118,000 after buying an additional 10,375 shares during the period. First Trust Advisors LP lifted its holdings in shares of The Hanover Insurance Group by 28.5% during the third quarter. First Trust Advisors LP now owns 639,264 shares of the insurance provider's stock worth $116,110,000 after buying an additional 141,835 shares during the last quarter. Channing Capital Management LLC lifted its holdings in shares of The Hanover Insurance Group by 73.6% during the third quarter. Channing Capital Management LLC now owns 68,641 shares of the insurance provider's stock worth $12,467,000 after buying an additional 29,106 shares during the last quarter. Finally, Capula Management Ltd bought a new stake in shares of The Hanover Insurance Group in the third quarter valued at approximately $1,877,000. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $194.57 on Thursday. The firm has a market capitalization of $6.81 billion, a PE ratio of 9.79 and a beta of 0.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 1-year low of $160.70 and a 1-year high of $199.59. The business's 50 day moving average is $179.45 and its 200-day moving average is $178.55.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company posted $3.87 earnings per share. The Hanover Insurance Group's revenue was up 6.1% on a year-over-year basis. Sell-side analysts predict that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, March 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has initiated a share buyback program on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

THG has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Citizens Jmp increased their price target on shares of 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. Zacks Research upgraded shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Finally, Piper Sandler upped their price objective on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $203.50.

Insider Buying and Selling at The Hanover Insurance Group

In other news, Director Cynthia Egan sold 3,400 shares of The Hanover Insurance Group stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the sale, the director directly owned 9,359 shares in the company, valued at approximately $1,764,171.50. The trade was a 26.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Roche sold 5,251 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $198.06, for a total transaction of $1,040,013.06. Following the completion of the sale, the chief executive officer directly owned 141,011 shares in the company, valued at approximately $27,928,638.66. The trade was a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 15,088 shares of company stock valued at $2,898,590 over the last quarter. 2.80% of the stock is currently owned by insiders.

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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