The Hanover Insurance Group, Inc. $THG Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. lowered its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 27.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,600 shares of the insurance provider’s stock after selling 3,300 shares during the period. Sit Investment Associates Inc.’s holdings in The Hanover Insurance Group were worth $1,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in shares of The Hanover Insurance Group by 61.0% in the 1st 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 last quarter. NewEdge Advisors LLC grew its stake 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 worth $131,000 after buying an additional 706 shares during the last quarter. Goldman Sachs Group Inc. increased its position in The Hanover Insurance Group by 21.6% in the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after buying an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in The Hanover Insurance Group by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after buying an additional 7,712 shares during the period. Finally, Invesco Ltd. lifted its stake in The Hanover Insurance Group by 7.7% in the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after buying an additional 20,294 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Trading Up 0.1%

Shares of THG stock opened at $198.18 on Friday. The Hanover Insurance Group, Inc. has a 1 year low of $160.70 and a 1 year high of $201.45. The firm has a market capitalization of $6.93 billion, a PE ratio of 9.97 and a beta of 0.30. The stock has a fifty day moving average of $188.43 and a two-hundred day moving average of $180.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $3.87 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.9%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

THG has been the subject of several analyst reports. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Citizens Jmp lifted 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. Morgan Stanley set a $195.00 target price on shares of The Hanover Insurance Group in a research note on Friday, May 1st. Keefe, Bruyette & Woods upped their target price on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada raised their price target on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.00.

Insider Activity

In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 6,262 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the sale, the executive vice president directly owned 11,988 shares in the company, valued at approximately $2,313,564.12. The trade was a 34.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cynthia Egan sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the sale, the director directly owned 9,359 shares of the company’s stock, valued at approximately $1,764,171.50. This represents a 26.65% 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 worth $5,704,651 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

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.