Legal & General Group Plc decreased its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,223 shares of the insurance provider's stock after selling 14,928 shares during the period. Legal & General Group Plc owned about 0.16% of The Hanover Insurance Group worth $10,276,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new stake in The Hanover Insurance Group during the 3rd quarter worth about $26,000. Community Bank N.A. purchased a new stake in The Hanover Insurance Group during the 3rd quarter worth about $27,000. Entrust Financial LLC purchased a new stake in The Hanover Insurance Group during the 4th quarter worth about $33,000. Clearstead Advisors LLC increased its holdings in The Hanover Insurance Group by 300.0% during the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider's stock worth $36,000 after purchasing an additional 150 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new stake in The Hanover Insurance Group during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 86.61% of the company's stock.
The Hanover Insurance Group Stock Down 0.1%
The Hanover Insurance Group stock opened at $186.80 on Thursday. The Hanover Insurance Group, Inc. has a twelve month low of $160.70 and a twelve month high of $199.59. The stock has a 50 day moving average of $183.12 and a two-hundred day moving average of $179.48. 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 capitalization of $6.54 billion, a price-to-earnings ratio of 9.40 and a beta of 0.30.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping analysts' consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The company had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same period last year, the firm earned $3.87 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts expect that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current year.
The Hanover Insurance Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, June 12th. The Hanover Insurance Group's dividend payout ratio (DPR) is presently 19.12%.
The Hanover Insurance Group announced that its board has approved a stock repurchase plan on Wednesday, May 13th that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Analysts Set New Price Targets
A number of research firms have recently commented on THG. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Zacks Research upgraded The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Keefe, Bruyette & Woods increased their price objective on The Hanover Insurance Group from $208.00 to $211.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Piper Sandler increased their price objective on The Hanover Insurance Group from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Finally, Morgan Stanley set a $195.00 price objective on The Hanover Insurance Group in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of "Moderate Buy" and an average target price of $207.00.
Read Our Latest Stock Analysis on The Hanover Insurance Group
Insider Activity at The Hanover Insurance Group
In other news, CEO John C. Roche sold 8,358 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 141,011 shares of the company's stock, valued at $27,319,471.14. This trade represents a 5.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total value of $195,370.00. Following the completion of the sale, the director directly owned 4,053 shares of the company's stock, valued at $791,834.61. This represents a 19.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,508 shares of company stock worth $5,704,651 in the last ninety days. Company insiders own 2.80% of the company's stock.
About The Hanover Insurance Group
(
Free Report)
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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