SG Americas Securities LLC Sells 7,841 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• SG Americas Securities cut its stake in The Hanover Insurance Group by 57.2% in the first quarter, selling 7,841 shares and leaving it with 5,858 shares worth about $1.0 million.
• The company beat quarterly earnings expectations, reporting $5.25 EPS on revenue of $1.70 billion versus estimates of $4.14 EPS and $1.58 billion in revenue.
• Hanover also returned cash to shareholders with a $0.95 quarterly dividend and authorized a $700 million share repurchase program, while analysts currently rate the stock a Moderate Buy with an average target of $207.

SG Americas Securities LLC decreased its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 57.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,858 shares of the insurance provider's stock after selling 7,841 shares during the period. SG Americas Securities LLC's holdings in The Hanover Insurance Group were worth $1,015,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in THG. Millennium Management LLC raised its stake in The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider's stock valued at $15,371,000 after acquiring an additional 33,495 shares during the period. NewEdge Advisors LLC boosted its position in The Hanover Insurance Group by 1,568.9% during the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider's stock worth $131,000 after purchasing an additional 706 shares during the period. Goldman Sachs Group Inc. boosted its position in The Hanover Insurance Group by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider's stock worth $38,052,000 after purchasing an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of The Hanover Insurance Group by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider's stock valued at $22,445,000 after purchasing an additional 7,712 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of The Hanover Insurance Group by 7.7% during the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider's stock worth $48,155,000 after buying an additional 20,294 shares during the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

THG has been the topic of a number of research reports. Zacks Research raised The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. BMO Capital Markets cut 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 report on Tuesday, May 19th. Piper Sandler upped their price target on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods upped their price target on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, Morgan Stanley set a $195.00 price target on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $207.00.

The Hanover Insurance Group Stock Performance

NYSE:THG opened at $221.14 on Friday. The stock has a fifty day moving average price of $195.15 and a 200-day moving average price of $182.80. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 11.13 and a beta of 0.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The Hanover Insurance Group, Inc. has a fifty-two week low of $160.97 and a fifty-two week high of $221.70.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $1.11. The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The Hanover Insurance Group's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $3.87 earnings per share. As a group, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group's dividend payout ratio (DPR) is currently 19.12%.

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

Insider Buying and Selling

In related news, Director Cynthia Egan sold 3,400 shares of The Hanover Insurance Group stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $188.50, for a total value of $640,900.00. Following the transaction, the director directly owned 9,359 shares of the company's stock, valued at $1,764,171.50. This trade represents a 26.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Denise Lowsley sold 4,175 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $191.73, for a total transaction of $800,472.75. Following the transaction, the executive vice president owned 3,883 shares of the company's stock, valued at approximately $744,487.59. This represents a 51.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is owned by company insiders.

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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