Altrinsic Global Advisors LLC Sells 43,345 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• Altrinsic Global Advisors LLC reduced its stake in The Hanover Insurance Group by 20.5% in the first quarter, now holding 168,359 shares valued at approximately $29 million.
• The Hanover Insurance Group reported earnings of $4.35 per share for the last quarter, exceeding analysts' expectations of $3.07, despite a slight revenue dip.
• The company announced a quarterly dividend of $0.90 per share, representing an annualized dividend yield of 2.1% with a payout ratio of 23.70%.

Altrinsic Global Advisors LLC lessened its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 20.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 168,359 shares of the insurance provider's stock after selling 43,345 shares during the period. The Hanover Insurance Group accounts for about 1.4% of Altrinsic Global Advisors LLC's portfolio, making the stock its 15th largest position. Altrinsic Global Advisors LLC owned approximately 0.47% of The Hanover Insurance Group worth $29,286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Clearstead Trust LLC acquired a new position in shares of The Hanover Insurance Group during the first quarter valued at about $27,000. True Wealth Design LLC grew its stake in shares of The Hanover Insurance Group by 81.7% in the 4th quarter. True Wealth Design LLC now owns 307 shares of the insurance provider's stock valued at $47,000 after buying an additional 138 shares during the period. Versant Capital Management Inc increased its position in The Hanover Insurance Group by 331.4% in the 1st quarter. Versant Capital Management Inc now owns 302 shares of the insurance provider's stock valued at $53,000 after buying an additional 232 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in The Hanover Insurance Group during the 1st quarter worth approximately $53,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in The Hanover Insurance Group by 819.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 386 shares of the insurance provider's stock worth $67,000 after acquiring an additional 344 shares in the last quarter. 86.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on THG shares. JMP Securities set a $205.00 price objective on The Hanover Insurance Group in a report on Thursday, July 31st. Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price target for the company in a research report on Wednesday, July 9th. Wall Street Zen upgraded shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Citigroup reaffirmed an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Finally, Morgan Stanley boosted their target price on shares of The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and a consensus price target of $185.13.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock traded down $1.25 during mid-day trading on Thursday, hitting $173.40. 130,252 shares of the stock were exchanged, compared to its average volume of 235,136. The Hanover Insurance Group, Inc. has a 12 month low of $139.37 and a 12 month high of $178.68. The company has a 50-day simple moving average of $168.23 and a 200 day simple moving average of $167.05. The company has a market capitalization of $6.20 billion, a P/E ratio of 11.42 and a beta of 0.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the business posted $1.88 earnings per share. The Hanover Insurance Group's 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 fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.90 dividend. The ex-dividend date of this dividend 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 currently 23.70%.

The Hanover Insurance Group Company 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.