Natixis grew its holdings in Hanover Insurance Group Inc (NYSE:THG) by 123.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,662 shares of the insurance provider’s stock after buying an additional 41,300 shares during the period. Natixis owned 0.19% of Hanover Insurance Group worth $9,579,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of THG. Janus Henderson Group PLC raised its holdings in Hanover Insurance Group by 3.1% in the 2nd quarter. Janus Henderson Group PLC now owns 800,840 shares of the insurance provider’s stock valued at $102,748,000 after acquiring an additional 24,190 shares during the last quarter. AJO LP grew its position in shares of Hanover Insurance Group by 5.0% in the first quarter. AJO LP now owns 703,160 shares of the insurance provider’s stock valued at $80,280,000 after purchasing an additional 33,401 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Hanover Insurance Group by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 503,286 shares of the insurance provider’s stock valued at $64,571,000 after purchasing an additional 3,786 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Hanover Insurance Group by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 424,142 shares of the insurance provider’s stock valued at $49,527,000 after purchasing an additional 29,984 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Hanover Insurance Group by 26.9% in the first quarter. Wells Fargo & Company MN now owns 352,860 shares of the insurance provider’s stock valued at $40,286,000 after purchasing an additional 74,895 shares during the last quarter. 86.73% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on THG. ValuEngine lowered Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $131.90.
In other news, insider Ann Kirkpatrick Tripp sold 3,477 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.00, for a total value of $455,487.00. Following the transaction, the insider now owns 20,107 shares of the company’s stock, valued at approximately $2,634,017. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP J Kendall Huber sold 7,510 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $130.43, for a total value of $979,529.30. The disclosure for this sale can be found here. Insiders have sold a total of 11,675 shares of company stock valued at $1,522,248 in the last 90 days. Insiders own 1.65% of the company’s stock.
Shares of THG traded down $1.02 during mid-day trading on Wednesday, reaching $131.59. The stock had a trading volume of 4,317 shares, compared to its average volume of 262,085. Hanover Insurance Group Inc has a 52-week low of $104.59 and a 52-week high of $135.49. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 19.37 and a beta of 0.58. The business’s fifty day moving average is $131.74 and its 200 day moving average is $124.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40.
Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.05. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Hanover Insurance Group had a net margin of 8.97% and a return on equity of 10.44%. Hanover Insurance Group’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 earnings per share. As a group, sell-side analysts anticipate that Hanover Insurance Group Inc will post 8.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.82%. Hanover Insurance Group’s dividend payout ratio is currently 35.35%.
Hanover Insurance Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 27th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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