Magnetar Financial LLC Buys Shares of 1,706 The Hanover Insurance Group, Inc. $THG

Magnetar Financial LLC purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,706 shares of the insurance provider’s stock, valued at approximately $297,000.

A number of other large investors also recently modified their holdings of the business. HM Payson & Co. lifted its holdings in The Hanover Insurance Group by 6.7% in the first quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider’s stock worth $185,000 after purchasing an additional 67 shares during the period. Intrust Bank NA raised its position in shares of The Hanover Insurance Group by 1.8% during the 1st quarter. Intrust Bank NA now owns 4,886 shares of the insurance provider’s stock worth $850,000 after buying an additional 85 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of The Hanover Insurance Group by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,632 shares of the insurance provider’s stock worth $1,502,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of The Hanover Insurance Group by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the insurance provider’s stock valued at $1,757,000 after acquiring an additional 100 shares in the last quarter. Finally, Buckhead Capital Management LLC increased its stake in shares of The Hanover Insurance Group by 0.6% during the first quarter. Buckhead Capital Management LLC now owns 17,440 shares of the insurance provider’s stock valued at $3,034,000 after acquiring an additional 100 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $173.47 on Tuesday. The company has a market capitalization of $6.21 billion, a PE ratio of 11.42 and a beta of 0.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a fifty day moving average of $168.40 and a 200-day moving average of $167.29. The Hanover Insurance Group, Inc. has a one year low of $139.37 and a one year high of $178.68.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $1.28. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. The Hanover Insurance Group’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a research report on Thursday, July 31st. Keefe, Bruyette & Woods raised The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a research note on Wednesday, July 9th. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Finally, Morgan Stanley lifted their target price on The Hanover Insurance Group from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.13.

The 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 through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.