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

CX Institutional boosted its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 8.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 36,544 shares of the insurance provider’s stock after buying an additional 2,814 shares during the quarter. CX Institutional’s holdings in The Hanover Insurance Group were worth $7,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basecamp Wealth Advisors LLC increased its stake in shares of The Hanover Insurance Group by 19.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 55 shares during the period. Western Wealth Management LLC acquired a new position in shares of The Hanover Insurance Group during the first quarter worth approximately $188,000. Empowered Funds LLC boosted its position in shares of The Hanover Insurance Group by 41.9% during the first quarter. Empowered Funds LLC now owns 1,645 shares of the insurance provider’s stock worth $285,000 after buying an additional 486 shares during the period. Bank of America Corp DE grew its holdings in The Hanover Insurance Group by 10.1% in the 1st quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider’s stock worth $43,533,000 after buying an additional 22,978 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in 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 worth $195,000 after buying an additional 59 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on THG. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $220.00 target price (up from $211.00) on shares of The Hanover Insurance Group in a research note on Wednesday, July 8th. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research note on Wednesday, July 15th. Morgan Stanley upped their price objective on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Finally, Citizens Jmp raised their target price 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $223.29.

The Hanover Insurance Group Stock Down 0.2%

Shares of THG stock opened at $232.18 on Tuesday. The Hanover Insurance Group, Inc. has a 1 year low of $165.50 and a 1 year high of $236.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The business’s fifty day moving average is $207.60 and its 200-day moving average is $188.24. The stock has a market cap of $8.08 billion, a PE ratio of 11.08 and a beta of 0.28.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share 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 during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $4.35 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. Equities analysts expect that The Hanover Insurance Group, Inc. will post 19.15 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders 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 annualized dividend and a yield of 1.6%. The Hanover Insurance Group’s payout ratio is 18.14%.

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

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Dennis Francis Kerrigan sold 6,262 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total value of $1,208,503.38. Following the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Francisco Aristeguieta sold 1,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 4,053 shares of the company’s stock, 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. Insiders sold a total of 26,108 shares of company stock valued at $5,063,751 over the last 90 days. Insiders own 2.80% of the company’s stock.

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.