The Hanover Insurance Group, Inc. $THG Stock Position Reduced by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp cut its position in The Hanover Insurance Group by 17.3% in the first quarter, selling 29,409 shares and leaving it with 140,938 shares valued at about $24.4 million.
• The company reported better-than-expected quarterly results, posting EPS of $5.25 versus the $4.14 estimate and revenue of $1.70 billion versus the expected $1.58 billion.
• The Hanover also announced a $700 million share buyback and recently paid a quarterly dividend of $0.95 per share, which annualizes to a 1.7% yield.

Boston Trust Walden Corp decreased its position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,938 shares of the insurance provider's stock after selling 29,409 shares during the quarter. Boston Trust Walden Corp owned 0.40% of The Hanover Insurance Group worth $24,432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of The Hanover Insurance Group during the 3rd quarter valued at about $26,000. Community Bank N.A. acquired a new position in The Hanover Insurance Group in the third quarter valued at approximately $27,000. McMillan Office Inc. acquired a new position in The Hanover Insurance Group in the fourth quarter valued at approximately $31,000. Entrust Financial LLC bought a new position in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $33,000. Finally, Root Financial Partners LLC raised its position in shares of The Hanover Insurance Group by 69.3% during the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider's stock worth $41,000 after purchasing an additional 97 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Trading Down 0.2%

Shares of NYSE:THG opened at $221.14 on Friday. The company has a 50 day moving average of $195.15 and a 200-day moving average of $182.80. 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 firm has a market cap of $7.74 billion, a P/E ratio of 11.13 and a beta of 0.28. The Hanover Insurance Group, Inc. has a twelve month low of $160.97 and a twelve month high of $221.70.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.14 by $1.11. The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.87 earnings per share. As a group, analysts anticipate that The Hanover Insurance Group, Inc. will post 18.36 earnings per share 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 26th. Investors of record on Friday, June 12th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group's payout ratio is presently 19.12%.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research upgraded The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 4th. Oppenheimer boosted their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. Weiss Ratings raised shares of The Hanover Insurance Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, May 22nd. Morgan Stanley set a $195.00 price objective on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of "Moderate Buy" and an average price target of $207.00.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Dennis Francis Kerrigan sold 6,262 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the completion of the sale, the executive vice president directly owned 11,988 shares in the company, valued at approximately $2,313,564.12. This trade represents a 34.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Denise Lowsley sold 4,175 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total transaction of $800,472.75. Following the completion of the transaction, the executive vice president owned 3,883 shares in the company, valued at approximately $744,487.59. This trade represents a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,508 shares of company stock valued at $5,704,651 in the last quarter. 2.80% of the stock is owned by company insiders.

About The Hanover Insurance Group

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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