Wells Fargo & Company MN raised its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,492 shares of the insurance provider’s stock after purchasing an additional 2,644 shares during the quarter. Wells Fargo & Company MN’s holdings in Hanover Insurance Group were worth $5,599,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in THG. Cramer Rosenthal Mcglynn LLC bought a new stake in Hanover Insurance Group during the 4th quarter valued at $44,145,000. Franklin Resources Inc. increased its stake in Hanover Insurance Group by 27.4% during the 4th quarter. Franklin Resources Inc. now owns 1,034,600 shares of the insurance provider’s stock valued at $111,819,000 after purchasing an additional 222,800 shares in the last quarter. BlackRock Inc. increased its stake in Hanover Insurance Group by 1.4% during the 4th quarter. BlackRock Inc. now owns 3,563,588 shares of the insurance provider’s stock valued at $385,154,000 after purchasing an additional 48,671 shares in the last quarter. Channing Capital Management LLC bought a new stake in Hanover Insurance Group during the 4th quarter valued at $5,072,000. Finally, MetLife Investment Advisors LLC bought a new stake in Hanover Insurance Group during the 4th quarter valued at $2,898,000. Institutional investors and hedge funds own 86.26% of the company’s stock.
In other news, insider Mark Leo Berthiaume sold 1,924 shares of the company’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $117.35, for a total value of $225,781.40. Following the completion of the sale, the insider now owns 3,164 shares in the company, valued at approximately $371,295.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Joseph Welzenbach sold 15,233 shares of the company’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $115.59, for a total transaction of $1,760,782.47. Following the completion of the sale, the insider now owns 30,213 shares of the company’s stock, valued at approximately $3,492,320.67. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, May 2nd. The insurance provider reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.14. Hanover Insurance Group had a net margin of 3.97% and a return on equity of 8.33%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the business posted $0.95 EPS. Hanover Insurance Group’s quarterly revenue was up 6.6% on a year-over-year basis. analysts forecast that Hanover Insurance Group Inc will post 8.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be paid a $0.54 dividend. The ex-dividend date is Thursday, June 7th. This represents a $2.16 annualized dividend and a dividend yield of 1.82%. Hanover Insurance Group’s payout ratio is 45.57%.
A number of analysts have commented on THG shares. Zacks Investment Research lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 21st. ValuEngine lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Keefe, Bruyette & Woods upgraded shares of Hanover Insurance Group from a “market perform” rating to an “outperform” rating in a research note on Friday, May 4th.
Hanover Insurance Group Profile
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.
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