Public Employees Retirement System of Ohio Makes New $2.43 Million Investment in The Hanover Insurance Group, Inc. $THG

Key Points

• Public Employees Retirement System of Ohio acquired 11,355 shares of The Hanover Insurance Group worth approximately $2.43 million. Institutional investors collectively own 86.61% of THG’s outstanding stock.
• The Hanover reported quarterly earnings of $5.31 per share, beating estimates by $1.47, while revenue rose 4.6% year over year to $1.73 billion. The company also authorized a $700 million share-repurchase program and declared a quarterly dividend of $0.95 per share.
• THG shares opened at $228.52, near their 12-month high, while analysts maintain a consensus “Moderate Buy” rating with a $225.71 price target. Recent insider transactions showed executives selling a combined 9,655 shares worth about $2.15 million over 90 days.

Public Employees Retirement System of Ohio bought a new position in 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. The fund bought 11,355 shares of the insurance provider's stock, valued at approximately $2,431,000.

A number of other institutional investors have also modified their holdings of THG. Legato Capital Management LLC acquired a new stake in The Hanover Insurance Group during the fourth quarter valued at approximately $1,238,000. Intech Investment Management LLC acquired a new position in shares of The Hanover Insurance Group in the 4th quarter worth approximately $4,926,000. UBS Group AG grew its position in shares of The Hanover Insurance Group by 58.7% in the 4th quarter. UBS Group AG now owns 149,300 shares of the insurance provider's stock worth $27,288,000 after acquiring an additional 55,220 shares in the last quarter. LSV Asset Management increased its holdings in shares of The Hanover Insurance Group by 1,586.7% in the 4th quarter. LSV Asset Management now owns 25,300 shares of the insurance provider's stock valued at $4,624,000 after acquiring an additional 23,800 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of The Hanover Insurance Group in the 4th quarter valued at approximately $83,817,000. Institutional investors and hedge funds own 86.61% of the company's stock.

Insider Transactions at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the sale, the director directly owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dennis Kerrigan sold 2,104 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the transaction, the executive vice president directly owned 12,003 shares of the company's stock, valued at $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,655 shares of company stock worth $2,145,846. Corporate insiders own 2.80% of the company's stock.

The Hanover Insurance Group Trading Down 1.4%

Shares of NYSE THG opened at $228.52 on Friday. 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 $7.96 billion, a price-to-earnings ratio of 10.91 and a beta of 0.26. 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 stock's 50 day simple moving average is $221.88 and its 200 day simple moving average is $197.13.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $3.84 by $1.47. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The firm's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.35 EPS. Equities research analysts expect that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current year.

The Hanover Insurance Group announced that its board has approved a stock repurchase plan 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 plans are often an indication that the company's board of directors believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.95 per share. The ex-dividend date is Friday, September 11th. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The Hanover Insurance Group's dividend payout ratio is currently 18.14%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research upgraded The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. BMO Capital Markets lowered shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Oppenheimer increased their target price on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. Citizens Jmp lifted their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a "market outperform" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, July 30th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $225.71.

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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