Quantitative Systematic Strategies LLC lifted its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 225.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,354 shares of the insurance provider’s stock after acquiring an additional 11,330 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Hanover Insurance Group were worth $1,867,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of THG. Sciencast Management LP bought a new stake in Hanover Insurance Group in the 1st quarter valued at $504,000. Virtu Financial LLC bought a new stake in Hanover Insurance Group in the 1st quarter valued at $204,000. First Citizens Bank & Trust Co. boosted its stake in Hanover Insurance Group by 37.3% in the 1st quarter. First Citizens Bank & Trust Co. now owns 3,620 shares of the insurance provider’s stock valued at $413,000 after purchasing an additional 984 shares during the period. Chartwell Investment Partners LLC boosted its stake in Hanover Insurance Group by 257.7% in the 1st quarter. Chartwell Investment Partners LLC now owns 131,971 shares of the insurance provider’s stock valued at $15,067,000 after purchasing an additional 95,073 shares during the period. Finally, 6 Meridian boosted its stake in Hanover Insurance Group by 8.1% in the 1st quarter. 6 Meridian now owns 4,307 shares of the insurance provider’s stock valued at $492,000 after purchasing an additional 322 shares during the period. Institutional investors own 89.65% of the company’s stock.
Several analysts recently issued reports on the company. Compass Point assumed coverage on Hanover Insurance Group in a research note on Friday, March 1st. They issued a “buy” rating and a $118.71 price target for the company. ValuEngine upgraded Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Monday, December 31st. Finally, Zacks Investment Research downgraded Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Hanover Insurance Group currently has a consensus rating of “Buy” and an average price target of $130.57.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, January 30th. The insurance provider reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.04. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Hanover Insurance Group had a return on equity of 11.14% and a net margin of 7.88%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. On average, equities analysts expect that Hanover Insurance Group Inc will post 8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.60 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.40 annualized dividend and a yield of 2.06%. Hanover Insurance Group’s dividend payout ratio is presently 35.35%.
In other Hanover Insurance Group news, insider Mark Joseph Welzenbach sold 2,216 shares of Hanover Insurance Group stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $115.24, for a total value of $255,371.84. Following the completion of the transaction, the insider now directly owns 17,559 shares of the company’s stock, valued at approximately $2,023,499.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bryan J. Salvatore sold 867 shares of Hanover Insurance Group stock in a transaction on Friday, March 15th. The shares were sold at an average price of $116.20, for a total value of $100,745.40. Following the completion of the transaction, the insider now directly owns 8,312 shares of the company’s stock, valued at $965,854.40. The disclosure for this sale can be found here. Insiders sold a total of 17,560 shares of company stock valued at $2,016,383 over the last ninety days. Insiders own 1.65% of the company’s stock.
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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. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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