Marshall Wace LLP Takes $29.76 Million Position in Hanover Insurance Group Inc (THG)
Marshall Wace LLP bought a new position in shares of Hanover Insurance Group Inc (NYSE:THG) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 241,204 shares of the insurance provider’s stock, valued at approximately $29,757,000.
Several other institutional investors have also recently bought and sold shares of THG. Bank of Montreal Can purchased a new stake in shares of Hanover Insurance Group during the 2nd quarter worth $832,000. Aperio Group LLC boosted its position in shares of Hanover Insurance Group by 3.8% during the 2nd quarter. Aperio Group LLC now owns 26,618 shares of the insurance provider’s stock worth $3,182,000 after purchasing an additional 978 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Hanover Insurance Group by 26.7% during the 2nd quarter. Wells Fargo & Company MN now owns 60,189 shares of the insurance provider’s stock worth $7,197,000 after purchasing an additional 12,697 shares in the last quarter. Barings LLC purchased a new stake in shares of Hanover Insurance Group during the 2nd quarter worth $520,000. Finally, KBC Group NV purchased a new stake in shares of Hanover Insurance Group during the 2nd quarter worth $1,074,000. 84.57% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider J Kendall Huber sold 24,000 shares of Hanover Insurance Group stock in a transaction on Monday, November 19th. The stock was sold at an average price of $110.07, for a total transaction of $2,641,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.
NYSE:THG opened at $112.68 on Friday. The firm has a market cap of $4.79 billion, a PE ratio of 13.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.39 and a quick ratio of 0.39. Hanover Insurance Group Inc has a 52-week low of $101.81 and a 52-week high of $131.44.
Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.07). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. Hanover Insurance Group had a return on equity of 11.81% and a net margin of 6.14%. On average, analysts expect that Hanover Insurance Group Inc will post 7.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 17th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.13%. This is an increase from Hanover Insurance Group’s previous quarterly dividend of $0.54. Hanover Insurance Group’s payout ratio is 45.57%.
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Hanover Insurance Group Profile
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.
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