Vise Technologies Inc. Makes New Investment in The Hanover Insurance Group, Inc. $THG

Key Points

• Vise Technologies initiated a position in The Hanover Insurance Group, purchasing 4,932 shares valued at approximately $1.06 million. Institutional investors collectively own 86.61% of THG.
• Hanover reported quarterly EPS of $5.31, well above the $3.84 consensus estimate, while revenue rose 4.6% year over year to $1.73 billion. The company also pays a quarterly dividend of $0.95 and authorized a $700 million share buyback.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $225.71, while recent insider activity was negative, including executive and director stock sales totaling 9,655 shares over the last quarter.

Vise Technologies Inc. purchased a new position in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,932 shares of the insurance provider's stock, valued at approximately $1,056,000.

A number of other institutional investors also recently modified their holdings of THG. JPL Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group during the third quarter worth $26,000. McMillan Office Inc. bought a new position in The Hanover Insurance Group during the fourth quarter worth $31,000. Entrust Financial LLC acquired a new position in The Hanover Insurance Group in the fourth quarter valued at $33,000. Clearstead Trust LLC acquired a new position in The Hanover Insurance Group in the second quarter valued at $36,000. Finally, Root Financial Partners LLC boosted its position in The Hanover Insurance Group by 69.3% during the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 97 shares during the last quarter. 86.61% of the stock is owned by institutional investors.

The Hanover Insurance Group Stock Performance

Shares of The Hanover Insurance Group stock opened at $223.23 on Friday. The Hanover Insurance Group, Inc. has a one year low of $166.54 and a one year high of $236.07. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 10.66 and a beta of 0.27. The business has a 50-day simple moving average of $217.00 and a 200 day simple moving average of $193.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company earned $4.35 earnings per share. The company's quarterly revenue was up 4.6% on a year-over-year basis. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group's dividend payout ratio (DPR) is 18.14%.

The Hanover Insurance Group announced that its Board of Directors has approved a share buyback plan on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Royal Bank Of Canada increased their price target on The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Citizens Jmp boosted their price objective on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 29th. Piper Sandler lowered The Hanover Insurance Group from an "overweight" rating to a "neutral" rating and set a $220.00 target price on the stock. in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their target price on The Hanover Insurance Group from $220.00 to $222.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. Finally, Zacks Research raised The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $225.71.

Insider Transactions at The Hanover Insurance Group

In other news, EVP Dennis Francis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the completion of the transaction, the executive vice president directly owned 12,003 shares in the company, valued at $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the transaction, the director owned 2,270 shares of the company's stock, valued at $525,505. This trade represents a 30.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,655 shares of company stock valued at $2,145,846 over the last quarter. Corporate insiders own 2.80% of the company's stock.

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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