William Blair Investment Management LLC Increases Stake in The Hanover Insurance Group, Inc. $THG

Key Points

• William Blair Investment Management boosted its stake in The Hanover Insurance Group by 6.7% in the fourth quarter, while institutional ownership overall remains very high at 86.61% of the company’s stock.
• The Hanover reported strong quarterly results, posting EPS of $5.25 versus the $4.14 consensus and revenue of $1.70 billion versus expectations of $1.58 billion; revenue also rose 6.1% from a year earlier.
• The company’s board approved a $700 million share buyback, and analysts currently rate the stock a Moderate Buy with an average price target of $205.86.

William Blair Investment Management LLC increased its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 149,219 shares of the insurance provider's stock after purchasing an additional 9,327 shares during the quarter. William Blair Investment Management LLC owned 0.42% of The Hanover Insurance Group worth $27,273,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of THG. Alliancebernstein L.P. increased its position in The Hanover Insurance Group by 36.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider's stock worth $217,505,000 after purchasing an additional 339,896 shares in the last quarter. AQR Capital Management LLC increased its position in The Hanover Insurance Group by 37.8% during the 3rd quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider's stock worth $137,967,000 after purchasing an additional 209,616 shares in the last quarter. Balyasny Asset Management L.P. increased its position in The Hanover Insurance Group by 206.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 292,121 shares of the insurance provider's stock worth $53,058,000 after purchasing an additional 196,655 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in The Hanover Insurance Group by 52.9% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 558,000 shares of the insurance provider's stock worth $94,787,000 after purchasing an additional 193,000 shares in the last quarter. Finally, Invesco Ltd. increased its position in The Hanover Insurance Group by 58.4% during the 3rd quarter. Invesco Ltd. now owns 448,980 shares of the insurance provider's stock worth $81,548,000 after purchasing an additional 165,496 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on THG. Royal Bank Of Canada increased their target price on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Morgan Stanley set a $195.00 target price on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. BMO Capital Markets downgraded shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $194.00 to $203.00 in a research report on Tuesday, May 19th. Finally, Piper Sandler increased their target price on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Two 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $205.86.

The Hanover Insurance Group Stock Up 0.1%

NYSE THG opened at $195.34 on Tuesday. The stock has a market cap of $6.83 billion, a PE ratio of 9.83 and a beta of 0.31. The Hanover Insurance Group, Inc. has a fifty-two week low of $160.70 and a fifty-two week high of $199.59. The business has a 50 day moving average price of $180.74 and a two-hundred day moving average price of $179.04. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $1.70 billion during 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 Hanover Insurance Group's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.87 EPS. As a group, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 18.45 EPS for the current fiscal year.

The Hanover Insurance Group declared that its board has approved a stock 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 stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,200 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $180.91, for a total value of $217,092.00. Following the completion of the transaction, the director owned 2,423 shares in the company, valued at $438,344.93. This represents a 33.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cynthia Egan sold 3,400 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the completion of the transaction, the director owned 9,359 shares of the company's stock, valued at approximately $1,764,171.50. This represents a 26.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,708 shares of company stock worth $5,726,373 over the last 90 days. 2.80% of the stock is owned by corporate insiders.

The Hanover Insurance Group Company Profile

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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