Martingale Asset Management L P Raises Position in The Hanover Insurance Group, Inc. $THG

Key Points

• Martingale Asset Management L P increased its holdings in The Hanover Insurance Group by 118.9%, now owning 36,238 shares valued at approximately $6.3 million.
• The Hanover Insurance Group reported earnings per share of $4.35 for the last quarter, significantly exceeding analysts' expectations of $3.07.
• 86.61% of The Hanover Insurance Group's stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.

Martingale Asset Management L P lifted its stake in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 118.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,238 shares of the insurance provider's stock after purchasing an additional 19,684 shares during the period. Martingale Asset Management L P owned about 0.10% of The Hanover Insurance Group worth $6,304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its holdings in The Hanover Insurance Group by 57.5% during the 1st quarter. Hsbc Holdings PLC now owns 21,332 shares of the insurance provider's stock worth $3,708,000 after buying an additional 7,790 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in The Hanover Insurance Group by 45.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 907,760 shares of the insurance provider's stock worth $157,905,000 after buying an additional 282,233 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in The Hanover Insurance Group by 12.8% during the 1st quarter. Aptus Capital Advisors LLC now owns 70,832 shares of the insurance provider's stock worth $12,321,000 after buying an additional 8,026 shares during the last quarter. Versor Investments LP purchased a new stake in The Hanover Insurance Group during the 1st quarter worth about $1,221,000. Finally, Algert Global LLC purchased a new stake in The Hanover Insurance Group during the 1st quarter worth about $2,745,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Stock Performance

THG traded down $2.6310 on Monday, hitting $172.9790. 158,078 shares of the company traded hands, compared to its average volume of 247,801. The company has a 50 day moving average of $167.76 and a 200-day moving average of $166.82. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $6.19 billion, a PE ratio of 11.39 and a beta of 0.45. The Hanover Insurance Group, Inc. has a 12-month low of $136.22 and a 12-month high of $178.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $1.28. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. Sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.90 per share. The ex-dividend date was Friday, June 13th. This represents a $3.60 annualized dividend and a yield of 2.1%. The Hanover Insurance Group's payout ratio is presently 23.70%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on THG. Morgan Stanley lifted their price target on 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. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Keefe, Bruyette & Woods upgraded The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a research report on Wednesday, July 9th. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and a consensus price target of $185.13.

About The Hanover Insurance Group

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.