Louisiana State Employees Retirement System lowered its holdings in Hanover Insurance Group Inc (NYSE:THG) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the insurance provider’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Hanover Insurance Group were worth $1,308,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Hanover Insurance Group by 87.0% in the second quarter. Bank of America Corp DE now owns 116,839 shares of the insurance provider’s stock worth $13,970,000 after acquiring an additional 54,356 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Hanover Insurance Group by 47.1% in the second quarter. Public Employees Retirement System of Ohio now owns 43,737 shares of the insurance provider’s stock worth $5,229,000 after acquiring an additional 13,998 shares during the period. Northern Trust Corp lifted its position in Hanover Insurance Group by 8.9% during the second quarter. Northern Trust Corp now owns 404,278 shares of the insurance provider’s stock valued at $48,336,000 after purchasing an additional 33,180 shares in the last quarter. United Services Automobile Association lifted its position in Hanover Insurance Group by 23.5% during the second quarter. United Services Automobile Association now owns 9,252 shares of the insurance provider’s stock valued at $1,106,000 after purchasing an additional 1,761 shares in the last quarter. Finally, Copper Rock Capital Partners LLC purchased a new position in Hanover Insurance Group during the third quarter valued at $21,253,000. 84.21% of the stock is currently owned by institutional investors.
In other news, insider Mark Joseph Welzenbach sold 7,402 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $113.05, for a total value of $836,796.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP J Kendall Huber sold 16,827 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $110.04, for a total value of $1,851,643.08. The disclosure for this sale can be found here. Insiders sold 48,229 shares of company stock worth $5,330,119 over the last 90 days. Company insiders own 1.30% of the company’s stock.
Several equities analysts recently weighed in on THG shares. ValuEngine downgraded Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. Buckingham Research started coverage on Hanover Insurance Group in a research report on Friday, December 14th. They set a “buy” rating on the stock. Finally, Zacks Investment Research downgraded Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Hanover Insurance Group currently has an average rating of “Hold” and an average target price of $136.50.
NYSE THG traded down $0.85 on Friday, hitting $114.93. 227,345 shares of the company traded hands, compared to its average volume of 303,037. The company has a market capitalization of $4.87 billion, a PE ratio of 16.93 and a beta of 0.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.39 and a current ratio of 0.51. Hanover Insurance Group Inc has a 52-week low of $104.49 and a 52-week high of $131.44.
Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, January 30th. The insurance provider reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.04. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. Hanover Insurance Group had a return on equity of 11.14% and a net margin of 7.88%. Hanover Insurance Group’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. On average, sell-side analysts forecast that Hanover Insurance Group Inc will post 8 EPS for the current year.
The firm also recently disclosed a special dividend, which was paid on Friday, January 25th. Stockholders of record on Thursday, January 10th were given a $4.75 dividend. The ex-dividend date of this dividend was Wednesday, January 9th. This represents a dividend yield of 2.08%. Hanover Insurance Group’s payout ratio is 35.35%.
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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