The Hanover Insurance Group, Inc. $THG Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC significantly reduced its stake in The Hanover Insurance Group by 36.2%, owning 59,835 shares after selling 33,890 shares in the first quarter.
• The Hanover Insurance Group reported a quarterly earnings per share of $4.35, exceeding consensus estimates of $3.07, while revenue increased by 3.1% year-over-year to $1.58 billion.
• The company announced a quarterly dividend of $0.90, yielding 2.1%, and its dividend payout ratio stands at 23.70%.

Hotchkis & Wiley Capital Management LLC lowered its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 36.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 59,835 shares of the insurance provider's stock after selling 33,890 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.17% of The Hanover Insurance Group worth $10,408,000 at the end of the most recent quarter.

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

The Hanover Insurance Group Stock Up 0.8%

Shares of NYSE THG opened at $175.4140 on Monday. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 11.55 and a beta of 0.45. The company's 50-day simple moving average is $167.76 and its 200-day simple moving average is $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 Hanover Insurance Group, Inc. has a 52-week low of $135.49 and a 52-week high of $178.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $3.07 by $1.28. The firm 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 company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. Equities analysts predict that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on THG. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. 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. JMP Securities set a $205.00 target price on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Morgan Stanley lifted their price target on The Hanover Insurance Group from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised 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 report on Wednesday, July 9th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $185.13.

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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