Squarepoint Ops LLC Sells 37,416 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• Squarepoint Ops LLC cut its Hanover Insurance position by 84.7%, selling 37,416 shares and retaining 6,768 shares valued at approximately $1.45 million. Institutional investors collectively own 86.61% of the company.
• Hanover reported quarterly EPS of $5.31, beating estimates of $3.84, while revenue rose 4.6% year over year to $1.73 billion. Shares opened at $232, near their 52-week high of $236.07.
• The company declared a quarterly dividend of $0.95 per share, or $3.80 annualized, representing a 1.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $225.71.

Squarepoint Ops LLC trimmed its position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 84.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,768 shares of the insurance provider's stock after selling 37,416 shares during the period. Squarepoint Ops LLC's holdings in The Hanover Insurance Group were worth $1,449,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in THG. BlackRock Inc. purchased a new position in shares of The Hanover Insurance Group in the second quarter worth approximately $756,471,000. Dimensional Fund Advisors LP increased its holdings in The Hanover Insurance Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider's stock valued at $168,179,000 after buying an additional 136,998 shares during the last quarter. First Trust Advisors LP increased its holdings in The Hanover Insurance Group by 3.2% during the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider's stock valued at $143,416,000 after buying an additional 25,945 shares during the last quarter. Geode Capital Management LLC raised its position in The Hanover Insurance Group by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider's stock worth $133,073,000 after acquiring an additional 29,870 shares during the period. Finally, Norges Bank bought a new position in The Hanover Insurance Group in the fourth quarter worth approximately $83,817,000. Hedge funds and other institutional investors own 86.61% of the company's stock.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Dennis Kerrigan sold 2,104 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $222.41, for a total value of $467,950.64. Following the completion of the transaction, the executive vice president owned 12,003 shares of the company's stock, valued at $2,669,587.23. This represents a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jane Carlin sold 1,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the sale, the director owned 2,270 shares of the company's stock, valued at $525,505. This represents a 30.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,655 shares of company stock worth $2,145,846. Insiders own 2.80% of the company's stock.

The Hanover Insurance Group Stock Performance

THG opened at $232.00 on Thursday. The company has a 50 day simple moving average of $223.56 and a two-hundred day simple moving average of $200.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $8.08 billion, a P/E ratio of 11.07 and a beta of 0.26. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $236.07.

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

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, September 11th. The Hanover Insurance Group's dividend payout ratio is presently 18.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citizens Jmp boosted their price objective on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 29th. Morgan Stanley raised their target price on The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. Royal Bank Of Canada lifted their target price on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Piper Sandler lowered The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 price target for the company. in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price target on The Hanover Insurance Group from $220.00 to $222.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $225.71.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its offerings are designed for individuals, families, businesses and specialty-market customers, with a focus on helping policyholders manage risks involving property, automobiles, liability and business operations.

The company's personal lines business includes automobile, homeowners, renters, condominium, umbrella and related insurance products.

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