Intech Investment Management LLC Purchases New Shares in The Hanover Insurance Group, Inc. $THG

Intech Investment Management LLC purchased a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 26,950 shares of the insurance provider’s stock, valued at approximately $4,926,000.

A number of other institutional investors have also recently added to or reduced their stakes in THG. Millennium Management LLC grew its stake in The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after acquiring an additional 33,495 shares during the period. NewEdge Advisors LLC grew its stake in The Hanover Insurance Group by 1,568.9% in the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock valued at $131,000 after acquiring an additional 706 shares during the period. Goldman Sachs Group Inc. grew its stake in The Hanover Insurance Group by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock valued at $38,052,000 after acquiring an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in The Hanover Insurance Group by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock valued at $22,445,000 after acquiring an additional 7,712 shares during the period. Finally, Invesco Ltd. grew its stake in The Hanover Insurance Group by 7.7% in the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after acquiring an additional 20,294 shares during the period. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insider Activity at The Hanover Insurance Group

In other news, EVP Dennis Francis Kerrigan sold 6,262 shares of The Hanover Insurance Group stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the transaction, the executive vice president owned 11,988 shares in the company, valued at $2,313,564.12. The trade was a 34.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of The Hanover Insurance Group stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total value of $195,370.00. Following the transaction, the director owned 4,053 shares in the company, valued at approximately $791,834.61. This represents a 19.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,508 shares of company stock worth $5,704,651 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Trading Up 0.2%

Shares of THG opened at $186.51 on Monday. The Hanover Insurance Group, Inc. has a 52-week low of $160.70 and a 52-week high of $199.59. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $182.13 and its two-hundred day moving average is $179.38. The stock has a market cap of $6.53 billion, a PE ratio of 9.39 and a beta of 0.30.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company posted $3.87 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current fiscal year.

The Hanover Insurance Group declared that its board has approved a stock repurchase program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding 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 often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on THG. Oppenheimer lifted their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. BMO Capital Markets cut shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Morgan Stanley set a $195.00 price target on shares of The Hanover Insurance Group in a research note on Friday, May 1st. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

About The Hanover Insurance Group

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.