Lazard Asset Management LLC Purchases 3,402 Shares of The Hanover Insurance Group, Inc. $THG

Lazard Asset Management LLC lifted its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 24.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,230 shares of the insurance provider’s stock after purchasing an additional 3,402 shares during the quarter. Lazard Asset Management LLC’s holdings in The Hanover Insurance Group were worth $2,987,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in THG. Entropy Technologies LP purchased a new position in shares of The Hanover Insurance Group in the first quarter worth about $451,000. Public Employees Retirement System of Ohio boosted its position in The Hanover Insurance Group by 2.3% in the first quarter. Public Employees Retirement System of Ohio now owns 11,742 shares of the insurance provider’s stock valued at $2,035,000 after buying an additional 268 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in The Hanover Insurance Group in the first quarter valued at approximately $3,664,000. Inceptionr LLC increased its holdings in The Hanover Insurance Group by 145.0% in the 1st quarter. Inceptionr LLC now owns 3,640 shares of the insurance provider’s stock worth $631,000 after buying an additional 2,154 shares during the period. Finally, Bank of Nova Scotia increased its holdings in The Hanover Insurance Group by 3.8% in the 1st quarter. Bank of Nova Scotia now owns 7,991 shares of the insurance provider’s stock worth $1,385,000 after buying an additional 289 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Denise Lowsley sold 4,175 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were 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 of the company’s stock, valued at $744,487.59. The trade was a 51.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the executive vice president owned 11,988 shares of the company’s stock, valued at approximately $2,313,564.12. This represents a 34.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,108 shares of company stock valued at $5,063,751. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

THG has been the topic of several analyst reports. Citizens Jmp raised their target price on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a report on Wednesday. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday. Zacks Research cut shares of The Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. 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 report on Wednesday, July 8th. Finally, Oppenheimer boosted their target price 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $223.29.

The Hanover Insurance Group Stock Performance

NYSE THG opened at $232.88 on Friday. The stock has a fifty day simple moving average of $206.86 and a 200-day simple moving average of $187.68. The company has a current ratio of 0.38, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The stock has a market cap of $8.11 billion, a PE ratio of 11.12 and a beta of 0.28. The Hanover Insurance Group, Inc. has a twelve month low of $165.17 and a twelve month high of $235.15.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results 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 return on equity of 21.72% and a net margin of 11.17%.The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company earned $4.35 EPS. The Hanover Insurance Group’s revenue was up 4.6% on a year-over-year basis. Equities analysts anticipate that The Hanover Insurance Group, Inc. will post 19.15 earnings per share for the current year.

The Hanover Insurance Group declared that its board has initiated a stock repurchase program on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is currently 18.14%.

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.