Franklin Resources Inc. boosted its position in shares of Hanover Insurance Group Inc (NYSE:THG) by 27.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,034,600 shares of the insurance provider’s stock after acquiring an additional 222,800 shares during the period. Franklin Resources Inc. owned 2.43% of Hanover Insurance Group worth $111,819,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Hanover Insurance Group by 1.4% during the 4th quarter. BlackRock Inc. now owns 3,563,588 shares of the insurance provider’s stock worth $385,154,000 after acquiring an additional 48,671 shares during the period. Victory Capital Management Inc. raised its stake in Hanover Insurance Group by 53.1% during the 4th quarter. Victory Capital Management Inc. now owns 893,113 shares of the insurance provider’s stock worth $96,528,000 after acquiring an additional 309,788 shares during the period. Janus Henderson Group PLC grew its holdings in Hanover Insurance Group by 9.0% during the 3rd quarter. Janus Henderson Group PLC now owns 773,695 shares of the insurance provider’s stock valued at $74,994,000 after buying an additional 63,578 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Hanover Insurance Group by 4.1% during the 3rd quarter. Macquarie Group Ltd. now owns 760,095 shares of the insurance provider’s stock valued at $73,676,000 after buying an additional 30,153 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings in Hanover Insurance Group by 0.8% during the 4th quarter. Pzena Investment Management LLC now owns 752,763 shares of the insurance provider’s stock valued at $81,359,000 after buying an additional 6,337 shares in the last quarter. Institutional investors own 85.95% of the company’s stock.
In related news, SVP Warren E. Barnes sold 1,547 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $110.60, for a total value of $171,098.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Warren E. Barnes sold 1,513 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $108.46, for a total transaction of $164,099.98. Following the completion of the transaction, the senior vice president now directly owns 6,333 shares of the company’s stock, valued at $686,877.18. The disclosure for this sale can be found here. Company insiders own 1.08% of the company’s stock.
Shares of THG opened at $116.75 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.26. Hanover Insurance Group Inc has a 1 year low of $79.23 and a 1 year high of $121.06. The company has a market cap of $5,046.42, a price-to-earnings ratio of 24.63 and a beta of 0.96.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.15. Hanover Insurance Group had a net margin of 3.59% and a return on equity of 6.88%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm posted ($0.46) EPS. The company’s revenue was up 8.4% on a year-over-year basis. analysts forecast that Hanover Insurance Group Inc will post 8.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Friday, March 9th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Thursday, March 8th. Hanover Insurance Group’s dividend payout ratio (DPR) is presently 45.57%.
A number of brokerages have issued reports on THG. ValuEngine lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st.
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Hanover Insurance Group Profile
The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).
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