The Hanover Insurance Group, Inc. $THG Shares Acquired by CX Institutional

CX Institutional increased its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 8.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,544 shares of the insurance provider’s stock after purchasing an additional 2,814 shares during the quarter. CX Institutional owned 0.10% of The Hanover Insurance Group worth $7,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its position in The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after buying an additional 339,896 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of The Hanover Insurance Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock worth $168,179,000 after acquiring an additional 136,998 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of The Hanover Insurance Group by 24.9% in the fourth quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock worth $174,322,000 after acquiring an additional 190,350 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after acquiring an additional 25,945 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in The Hanover Insurance Group by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock valued at $133,073,000 after purchasing an additional 29,870 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Insider Buying and Selling at The Hanover Insurance Group

In related news, CEO John C. Roche sold 8,358 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the sale, the chief executive officer owned 141,011 shares in the company, valued at $27,319,471.14. This represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the sale, the director owned 4,053 shares in the company, valued at approximately $791,834.61. This trade represents a 19.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,108 shares of company stock valued at $5,063,751 over the last three months. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on THG. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday. Royal Bank Of Canada raised their price target on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a research report on Thursday. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target on the stock. in a report on Wednesday, July 15th. Citizens Jmp increased their price objective on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 29th. Finally, BMO Capital Markets lowered shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $194.00 to $203.00 in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and a consensus target price of $223.29.

The Hanover Insurance Group Price Performance

Shares of THG opened at $232.18 on Tuesday. The Hanover Insurance Group, Inc. has a 52 week low of $165.50 and a 52 week high of $236.07. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 11.08 and a beta of 0.28. The stock has a 50 day moving average of $207.60 and a 200-day moving average of $188.24.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $4.35 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts forecast that The Hanover Insurance Group, Inc. will post 19.15 EPS for the current year.

The Hanover Insurance Group announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is 18.14%.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.