The Hanover Insurance Group, Inc. $THG Shares Sold by Heartland Advisors Inc.

Key Points

• Heartland Advisors trimmed its stake in The Hanover Insurance Group by 12.4% in the first quarter, selling 5,320 shares and leaving it with 37,549 shares valued at about $6.5 million.
• The Hanover reported strong quarterly results, with EPS of $5.25 beating estimates of $4.14 and revenue of $1.70 billion topping forecasts; revenue also rose 6.1% year over year.
• The company approved a $700 million share repurchase program and recently paid a $0.95 quarterly dividend, while analysts currently hold a consensus Moderate Buy rating with an average price target of $218.29.

Heartland Advisors Inc. lessened its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 12.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,549 shares of the insurance provider's stock after selling 5,320 shares during the quarter. Heartland Advisors Inc. owned 0.11% of The Hanover Insurance Group worth $6,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group in the third quarter valued at about $26,000. McMillan Office Inc. purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at about $31,000. Entrust Financial LLC acquired a new position in The Hanover Insurance Group during the 4th quarter worth approximately $33,000. Root Financial Partners LLC boosted its holdings in The Hanover Insurance Group by 69.3% in the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider's stock worth $41,000 after acquiring an additional 97 shares during the period. Finally, IFP Advisors Inc boosted its holdings in The Hanover Insurance Group by 146.2% in the 4th quarter. IFP Advisors Inc now owns 256 shares of the insurance provider's stock worth $47,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $213.42 on Monday. The Hanover Insurance Group, Inc. has a 52 week low of $163.18 and a 52 week high of $225.29. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.47 billion, a P/E ratio of 10.74 and a beta of 0.28. The stock has a 50 day moving average of $201.24 and a 200-day moving average of $184.78.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.14 by $1.11. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.87 earnings per share. On average, analysts expect that The Hanover Insurance Group, Inc. will post 18.38 EPS for the current fiscal year.

The Hanover Insurance Group declared that its board has approved a share repurchase program on Wednesday, May 13th that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the insurance provider to buy up to 10.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.95 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 annualized dividend and a dividend yield of 1.8%. The Hanover Insurance Group's payout ratio is presently 19.12%.

Insider Buying and Selling

In other news, EVP Denise Lowsley sold 4,175 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $191.73, for a total transaction of $800,472.75. Following the transaction, the executive vice president owned 3,883 shares of the company's stock, valued at approximately $744,487.59. This trade represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John C. Roche sold 8,358 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total value of $1,619,278.92. Following the completion of the transaction, the chief executive officer owned 141,011 shares of the company's stock, valued at $27,319,471.14. This trade represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on THG shares. Morgan Stanley increased their price objective on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. BMO Capital Markets downgraded shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and upped their target price for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Piper Sandler lowered shares of 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. Royal Bank Of Canada raised their price target on shares of The Hanover Insurance Group from $195.00 to $215.00 and gave the company a "sector perform" rating in a report on Monday, July 13th. Finally, Oppenheimer boosted their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, The Hanover Insurance Group has a consensus rating of "Moderate Buy" and an average target price of $218.29.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc NYSE: THG is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers' compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.

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