Meeder Asset Management Inc. Takes Position in The Hanover Insurance Group, Inc. $THG

Meeder Asset Management Inc. acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,632 shares of the insurance provider’s stock, valued at approximately $778,000.

A number of other hedge funds have also modified their holdings of THG. Basecamp Wealth Advisors LLC raised its position in shares of The Hanover Insurance Group by 19.1% during the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 55 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of The Hanover Insurance Group by 5.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 59 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of The Hanover Insurance Group by 3.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 64 shares during the period. Ballentine Partners LLC increased its stake in The Hanover Insurance Group by 3.4% in the 4th quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 66 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in The Hanover Insurance Group by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock worth $2,183,000 after buying an additional 66 shares during the period. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Trading Up 0.1%

Shares of NYSE THG opened at $222.32 on Wednesday. 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 Hanover Insurance Group, Inc. has a one year low of $166.54 and a one year high of $236.07. The business has a 50-day moving average price of $215.51 and a two-hundred day moving average price of $192.48. The firm has a market capitalization of $7.74 billion, a PE ratio of 10.61 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.35 EPS. As a group, analysts predict that The Hanover Insurance Group, Inc. will post 20.15 earnings per share for the current fiscal year.

The Hanover Insurance Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 13th that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is currently 18.14%.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the sale, the director owned 2,270 shares of the company’s stock, valued at $525,505. This trade represents a 30.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Francisco Aristeguieta sold 1,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

THG has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Citizens Jmp lifted their target price on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, July 30th. Finally, Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $223.57.

The Hanover Insurance Group 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.