Strs Ohio Raises Stock Holdings in The Hanover Insurance Group, Inc. $THG

Strs Ohio boosted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 3,553.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,946 shares of the insurance provider’s stock after buying an additional 30,099 shares during the quarter. Strs Ohio owned approximately 0.09% of The Hanover Insurance Group worth $5,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of The Hanover Insurance Group by 61.0% during the first quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock worth $15,371,000 after purchasing an additional 33,495 shares during the period. NewEdge Advisors LLC increased its holdings in The Hanover Insurance Group by 1,568.9% during the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock valued at $131,000 after purchasing an additional 706 shares during the period. Goldman Sachs Group Inc. raised its position in The Hanover Insurance Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock valued at $38,052,000 after purchasing an additional 38,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in The Hanover Insurance Group by 6.4% during 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 purchasing an additional 7,712 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings 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 worth $48,155,000 after buying an additional 20,294 shares during the period. Institutional investors own 86.61% of the company’s stock.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Cynthia Egan sold 3,400 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the sale, the director directly owned 9,359 shares of the company’s stock, valued at approximately $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Denise Lowsley sold 4,175 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the completion of the sale, the executive vice president directly owned 3,883 shares in the company, valued at approximately $744,487.59. This represents a 51.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,508 shares of company stock valued at $5,704,651 in the last ninety days. Corporate insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Stock Up 1.9%

Shares of NYSE:THG traded up $4.29 during midday trading on Tuesday, reaching $224.48. The company’s stock had a trading volume of 24,491 shares, compared to its average volume of 326,270. The Hanover Insurance Group, Inc. has a 12-month low of $160.97 and a 12-month high of $224.99. The firm has a market capitalization of $7.85 billion, a P/E ratio of 11.24 and a beta of 0.28. The firm has a 50 day moving average of $195.91 and a 200-day moving average of $183.02. 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 Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 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 business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $3.87 earnings per share. The Hanover Insurance Group’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current year.

The Hanover Insurance Group announced that its board has approved a share buyback plan on Wednesday, May 13th that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

The Hanover Insurance Group Announces Dividend

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 dividend of $0.95 per share. 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 payout ratio is presently 19.12%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Citizens Jmp boosted their price objective on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, April 30th. Oppenheimer upped their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Finally, Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.57.

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.