Brandywine Global Investment Management LLC lessened its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 14.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 104,116 shares of the insurance provider’s stock after selling 17,767 shares during the period. Brandywine Global Investment Management LLC’s holdings in Hanover Insurance Group were worth $11,253,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of THG. Victory Capital Management Inc. lifted its position in shares of Hanover Insurance Group by 53.1% during the 4th quarter. Victory Capital Management Inc. now owns 893,113 shares of the insurance provider’s stock worth $96,528,000 after purchasing an additional 309,788 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Hanover Insurance Group during the 4th quarter worth about $20,085,000. Dividend Assets Capital LLC acquired a new position in shares of Hanover Insurance Group during the 3rd quarter worth about $14,274,000. Citadel Advisors LLC lifted its position in shares of Hanover Insurance Group by 38.7% during the 4th quarter. Citadel Advisors LLC now owns 378,944 shares of the insurance provider’s stock worth $40,956,000 after purchasing an additional 105,700 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Hanover Insurance Group by 34.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 269,858 shares of the insurance provider’s stock worth $26,158,000 after purchasing an additional 68,810 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Warren E. Barnes sold 1,547 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $110.60, for a total transaction of $171,098.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Warren E. Barnes sold 1,513 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $108.46, for a total value of $164,099.98. Following the transaction, the senior vice president now owns 6,333 shares in the company, valued at $686,877.18. The disclosure for this sale can be found here. Insiders own 1.08% of the company’s stock.
Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.15. Hanover Insurance Group had a return on equity of 6.88% and a net margin of 3.59%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm earned ($0.46) EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. analysts forecast that Hanover Insurance Group Inc will post 8.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 9th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.16 annualized dividend and a yield of 1.83%. Hanover Insurance Group’s dividend payout ratio is 49.77%.
Separately, Zacks Investment Research cut Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th.
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Hanover Insurance Group Profile
The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).
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