Martingale Asset Management L P Purchases 19,684 Shares of 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 boosted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 118.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

A number of other large investors also recently modified their holdings of the business. HM Payson & Co. boosted its stake in shares of The Hanover Insurance Group by 6.7% during the 1st quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider's stock worth $185,000 after buying an additional 67 shares during the last quarter. Intrust Bank NA raised its holdings in The Hanover Insurance Group by 1.8% in the 1st quarter. Intrust Bank NA now owns 4,886 shares of the insurance provider's stock valued at $850,000 after acquiring an additional 85 shares during the period. State of Michigan Retirement System raised its holdings in The Hanover Insurance Group by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,632 shares of the insurance provider's stock valued at $1,502,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System raised its holdings in The Hanover Insurance Group by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the insurance provider's stock valued at $1,757,000 after acquiring an additional 100 shares during the period. Finally, Buckhead Capital Management LLC increased its holdings in shares of The Hanover Insurance Group by 0.6% during the first quarter. Buckhead Capital Management LLC now owns 17,440 shares of the insurance provider's stock worth $3,034,000 after purchasing an additional 100 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Up 0.6%

THG stock traded up $1.12 during trading on Wednesday, reaching $174.25. The stock had a trading volume of 36,960 shares, compared to its average volume of 246,403. The Hanover Insurance Group, Inc. has a one year low of $137.03 and a one year high of $178.68. 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 company's 50 day moving average is $167.94 and its two-hundred day moving average is $166.92. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 11.46 and a beta of 0.45.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $1.28. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. Equities research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $0.90 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. The Hanover Insurance Group's dividend payout ratio is presently 23.70%.

Wall Street Analyst Weigh In

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