Sanctuary Advisors LLC acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,340 shares of the insurance provider's stock, valued at approximately $2,214,000.
Several other hedge funds and other institutional investors have also modified their holdings of THG. Basecamp Wealth Advisors LLC increased its position in The Hanover Insurance Group by 19.1% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider's stock worth $59,000 after purchasing an additional 55 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in The Hanover Insurance Group by 5.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider's stock valued at $195,000 after buying an additional 59 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in The Hanover Insurance Group by 3.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider's stock valued at $344,000 after buying an additional 64 shares in the last quarter. Ballentine Partners LLC grew its stake in The Hanover Insurance Group by 3.4% during the fourth quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider's stock worth $370,000 after buying an additional 66 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in The Hanover Insurance Group by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider's stock worth $2,183,000 after buying an additional 66 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
THG has been the topic of a number of research reports. Oppenheimer raised their target price on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Royal Bank Of Canada upped their target price on The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. Weiss Ratings upgraded The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, July 30th. BMO Capital Markets cut The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and upped their price target for the stock 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 report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, The Hanover Insurance Group presently has an average rating of "Moderate Buy" and a consensus target price of $225.71.
Check Out Our Latest Stock Analysis on The Hanover Insurance Group
Insiders Place Their Bets
In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 6,551 shares of the firm's stock in a transaction that occurred on 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 owned 12,003 shares in the company, valued at approximately $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction on 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. The trade was a 30.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,655 shares of company stock valued at $2,145,846. 2.80% of the stock is owned by company insiders.
The Hanover Insurance Group Stock Up 0.6%
NYSE:THG opened at $228.40 on Thursday. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 10.90 and a beta of 0.27. The stock has a 50-day simple moving average of $218.72 and a 200 day simple moving average of $194.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The Hanover Insurance Group, Inc. has a one year low of $166.54 and a one year high of $236.07.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $4.35 EPS. The business's revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The Hanover Insurance Group's dividend payout ratio is 18.14%.
The Hanover Insurance Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
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.
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