Strs Ohio Purchases New Shares in The Hanover Insurance Group, Inc. $THG

Key Points

• Strs Ohio has acquired a new stake in The Hanover Insurance Group, purchasing 13,264 shares valued at approximately $2.3 million.
• The company's stock has received multiple upgrades from analysts, with price targets ranging from $188.00 to $205.00 and a consensus rating of "Moderate Buy."
• The Hanover Insurance Group recently reported earnings per share of $4.35 for the last quarter, significantly exceeding analyst expectations of $3.07.

Strs Ohio purchased a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,264 shares of the insurance provider's stock, valued at approximately $2,307,000.

Other large investors also recently made changes to their positions in the company. Clearstead Trust LLC bought a new position in shares of The Hanover Insurance Group during the first quarter valued at about $27,000. Versant Capital Management Inc lifted its position in shares of The Hanover Insurance Group by 331.4% during the first quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock valued at $53,000 after purchasing an additional 232 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of The Hanover Insurance Group during the first quarter valued at about $53,000. Northwestern Mutual Wealth Management Co. increased its holdings in The Hanover Insurance Group by 819.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 386 shares of the insurance provider's stock worth $67,000 after buying an additional 344 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in The Hanover Insurance Group by 47.2% during the first quarter. GAMMA Investing LLC now owns 499 shares of the insurance provider's stock worth $87,000 after buying an additional 160 shares during the last quarter. 86.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on THG shares. JMP Securities set a $205.00 price objective on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Keefe, Bruyette & Woods upgraded shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price objective for the company in a report on Wednesday, July 9th. Morgan Stanley raised their price objective on shares of The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of "Moderate Buy" and a consensus target price of $185.13.

The Hanover Insurance Group Trading Down 2.1%

Shares of The Hanover Insurance Group stock opened at $176.61 on Tuesday. The Hanover Insurance Group, Inc. has a 1 year low of $142.48 and a 1 year high of $182.64. The firm has a market cap of $6.32 billion, a PE ratio of 11.63 and a beta of 0.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.37 and a quick ratio of 0.37. The company has a 50 day simple moving average of $170.92 and a two-hundred day simple moving average of $168.48.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $1.28. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The Hanover Insurance Group's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. Analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 12th. The Hanover Insurance Group's payout ratio is presently 23.70%.

The Hanover Insurance Group Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.

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