Qube Research & Technologies Ltd bought a new stake in Hanover Insurance Group Inc (NYSE:THG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,559 shares of the insurance provider’s stock, valued at approximately $200,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of Hanover Insurance Group in the second quarter worth about $25,000. Bartlett & Co. LLC lifted its position in shares of Hanover Insurance Group by 159.0% in the second quarter. Bartlett & Co. LLC now owns 202 shares of the insurance provider’s stock worth $26,000 after buying an additional 124 shares during the last quarter. Financial Advantage Inc. acquired a new stake in shares of Hanover Insurance Group in the second quarter worth about $32,000. Resources Investment Advisors Inc. lifted its position in shares of Hanover Insurance Group by 80.1% in the first quarter. Resources Investment Advisors Inc. now owns 362 shares of the insurance provider’s stock worth $41,000 after buying an additional 161 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Hanover Insurance Group by 55.2% in the second quarter. Signaturefd LLC now owns 346 shares of the insurance provider’s stock worth $44,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 86.98% of the company’s stock.
In other news, insider Ann Kirkpatrick Tripp sold 3,477 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.00, for a total value of $455,487.00. Following the sale, the insider now directly owns 20,107 shares in the company, valued at approximately $2,634,017. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider J Kendall Huber sold 23,261 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $121.51, for a total value of $2,826,444.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,936 shares of company stock valued at $4,348,692. Insiders own 1.65% of the company’s stock.
Hanover Insurance Group stock opened at $133.30 on Thursday. The business has a 50 day moving average price of $130.52 and a two-hundred day moving average price of $122.46. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 19.63 and a beta of 0.62. Hanover Insurance Group Inc has a 12 month low of $104.59 and a 12 month high of $134.29.
Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.83 by $0.05. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Hanover Insurance Group had a return on equity of 10.44% and a net margin of 8.97%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. On average, analysts expect that Hanover Insurance Group Inc will post 8.2 earnings per share for the current fiscal year.
Hanover Insurance Group announced that its board has authorized a stock repurchase plan on Thursday, June 27th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Hanover Insurance Group Company 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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