Scout Investments Inc. increased its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 76.0% in the 2nd quarter, Holdings Channel reports. The firm owned 307,371 shares of the insurance provider’s stock after acquiring an additional 132,742 shares during the quarter. Hanover Insurance Group comprises approximately 0.8% of Scout Investments Inc.’s investment portfolio, making the stock its 20th largest holding. Scout Investments Inc.’s holdings in Hanover Insurance Group were worth $36,749,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. lifted its stake in Hanover Insurance Group by 1.3% during the first quarter. BlackRock Inc. now owns 3,609,255 shares of the insurance provider’s stock worth $425,496,000 after purchasing an additional 45,667 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Hanover Insurance Group by 40.4% during the first quarter. Victory Capital Management Inc. now owns 1,253,772 shares of the insurance provider’s stock worth $147,808,000 after purchasing an additional 360,659 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in Hanover Insurance Group by 87.6% during the first quarter. Lord Abbett & CO. LLC now owns 777,212 shares of the insurance provider’s stock worth $91,626,000 after purchasing an additional 363,017 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Hanover Insurance Group by 1.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 682,111 shares of the insurance provider’s stock worth $80,414,000 after purchasing an additional 9,157 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Hanover Insurance Group by 2.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 515,551 shares of the insurance provider’s stock worth $55,721,000 after purchasing an additional 10,236 shares during the last quarter. Hedge funds and other institutional investors own 86.26% of the company’s stock.
Several research firms recently weighed in on THG. Zacks Investment Research upgraded Hanover Insurance Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 12th. ValuEngine raised Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Monday, March 19th. Finally, Keefe, Bruyette & Woods raised Hanover Insurance Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 4th.
In other Hanover Insurance Group news, insider Mark Joseph Welzenbach sold 15,233 shares of Hanover Insurance Group stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $115.59, for a total transaction of $1,760,782.47. Following the transaction, the insider now owns 30,213 shares of the company’s stock, valued at $3,492,320.67. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Leo Berthiaume sold 1,924 shares of Hanover Insurance Group stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $117.35, for a total value of $225,781.40. Following the transaction, the insider now directly owns 3,164 shares in the company, valued at approximately $371,295.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Hanover Insurance Group traded up $0.77, hitting $123.67, during trading on Monday, according to Marketbeat. 2,774 shares of the stock were exchanged, compared to its average volume of 174,441. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 25.95 and a beta of 0.98. Hanover Insurance Group Inc has a 1-year low of $87.91 and a 1-year high of $125.00. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.27.
Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, May 2nd. The insurance provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.81 by $0.14. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. Hanover Insurance Group had a return on equity of 8.33% and a net margin of 3.97%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. equities analysts expect that Hanover Insurance Group Inc will post 8.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 8th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, June 7th. Hanover Insurance Group’s dividend payout ratio (DPR) is 45.57%.
About Hanover Insurance Group
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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