T. Rowe Price Investment Management Inc. Sells 366,693 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in The Hanover Insurance Group by 33.7%, selling 366,693 shares and retaining a total of 721,093 shares worth approximately $125.4 million.
• The Hanover Insurance Group reported $4.35 earnings per share for the last quarter, surpassing analyst expectations, while the company's revenue rose by 3.1% year-over-year.
• Analysts have raised their price targets for The Hanover Insurance Group, with the average target now at $185.13, reflecting a consensus rating of "Moderate Buy".

T. Rowe Price Investment Management Inc. decreased its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 33.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 721,093 shares of the insurance provider's stock after selling 366,693 shares during the period. T. Rowe Price Investment Management Inc. owned 2.01% of The Hanover Insurance Group worth $125,435,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of THG. Hsbc Holdings PLC boosted its holdings in The Hanover Insurance Group by 57.5% in the 1st quarter. Hsbc Holdings PLC now owns 21,332 shares of the insurance provider's stock valued at $3,708,000 after purchasing an additional 7,790 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in The Hanover Insurance Group by 45.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 907,760 shares of the insurance provider's stock worth $157,905,000 after purchasing an additional 282,233 shares in the last quarter. Aptus Capital Advisors LLC increased its position in The Hanover Insurance Group by 12.8% during the 1st quarter. Aptus Capital Advisors LLC now owns 70,832 shares of the insurance provider's stock worth $12,321,000 after purchasing an additional 8,026 shares in the last quarter. Versor Investments LP bought a new stake in shares of The Hanover Insurance Group in the 1st quarter valued at $1,221,000. Finally, Algert Global LLC bought a new stake in shares of The Hanover Insurance Group in the 1st quarter valued at $2,745,000. Institutional investors own 86.61% of the company's stock.

The Hanover Insurance Group Stock Up 0.8%

Shares of THG stock traded up $1.3140 on Friday, hitting $175.4140. The stock had a trading volume of 156,106 shares, compared to its average volume of 256,084. The business has a 50 day moving average of $167.76 and a 200 day moving average of $166.82. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 11.55 and a beta of 0.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.37 and a quick ratio of 0.37. The Hanover Insurance Group, Inc. has a 12-month low of $135.49 and a 12-month high of $178.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.07 by $1.28. The company 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 revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 earnings per share. As a group, analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio (DPR) is 23.70%.

Wall Street Analysts Forecast Growth

THG has been the topic of several research analyst reports. Wall Street Zen raised shares of The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. 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 increased 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 note on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.