Philadelphia Financial Management of San Francisco LLC Invests $6.65 Billion in The Hanover Insurance Group, Inc. $THG

Philadelphia Financial Management of San Francisco LLC purchased a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 31,040 shares of the insurance provider’s stock, valued at approximately $6,646,285,000. The Hanover Insurance Group makes up 1.3% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 29th largest holding.

Other large investors have also recently modified their holdings of the company. Legato Capital Management LLC acquired a new stake in The Hanover Insurance Group during the 4th quarter valued at approximately $1,238,000. Intech Investment Management LLC purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter worth about $4,926,000. UBS Group AG grew its holdings in The Hanover Insurance Group by 58.7% during the fourth quarter. UBS Group AG now owns 149,300 shares of the insurance provider’s stock worth $27,288,000 after acquiring an additional 55,220 shares during the period. Norges Bank acquired a new stake in shares of The Hanover Insurance Group during the 4th quarter worth approximately $83,817,000. Finally, Dockside LLC acquired a new stake in The Hanover Insurance Group during the fourth quarter valued at $1,225,000. Institutional investors own 86.61% of the company’s stock.

Insider Activity at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares of the company’s stock, valued at approximately $525,505. This represents a 30.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dennis Francis Kerrigan sold 6,551 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total value of $1,446,395.29. Following the completion of the transaction, the executive vice president owned 12,003 shares of the company’s stock, valued at $2,650,142.37. The trade was a 35.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,655 shares of company stock worth $2,145,846 in the last quarter. 2.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on THG shares. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Morgan Stanley upped their target price on The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods upped their price objective on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. BMO Capital Markets downgraded shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $194.00 to $203.00 in a research report on Tuesday, May 19th. Finally, Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.71.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $228.40 on Thursday. The firm has a market cap of $7.95 billion, a PE ratio of 10.90 and a beta of 0.27. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 52-week low of $166.54 and a 52-week high of $236.07. The company’s 50 day moving average is $218.72 and its two-hundred day moving average is $194.60.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company earned $4.35 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts expect that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current fiscal year.

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

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.95 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 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.