FJ Capital Management LLC Sells 28,390 Shares of The Hanover Insurance Group, Inc. $THG

FJ Capital Management LLC trimmed its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THGFree Report) by 43.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 37,427 shares of the insurance provider’s stock after selling 28,390 shares during the quarter. FJ Capital Management LLC’s holdings in The Hanover Insurance Group were worth $6,841,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in THG. Millennium Management LLC raised its position in shares of The Hanover Insurance Group by 61.0% during the first quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock worth $15,371,000 after acquiring 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 first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 706 shares during the period. Goldman Sachs Group Inc. grew its stake in The Hanover Insurance Group by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after purchasing an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in The Hanover Insurance Group by 6.4% during 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 purchasing an additional 7,712 shares during the period. Finally, Invesco Ltd. grew its stake in The Hanover Insurance Group by 7.7% during the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock worth $48,155,000 after purchasing an additional 20,294 shares during the period. 86.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on THG shares. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Finally, Wall Street Zen cut The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.00.

Get Our Latest Stock Analysis on THG

Insider Activity at The Hanover Insurance Group

In related news, EVP Dennis Francis Kerrigan sold 6,262 shares of The Hanover Insurance Group stock in a transaction on Wednesday, May 20th. The stock was 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. This trade represents a 34.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cynthia Egan sold 3,400 shares of The Hanover Insurance Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the sale, the director owned 9,359 shares in the company, valued at $1,764,171.50. This trade represents a 26.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,508 shares of company stock valued at $5,704,651 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Stock Up 0.9%

Shares of NYSE:THG opened at $197.91 on Friday. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 9.96 and a beta of 0.30. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 12-month low of $160.70 and a 12-month high of $199.59. The business’s 50 day moving average is $186.18 and its 200 day moving average is $180.13.

The Hanover Insurance Group (NYSE:THGGet Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $1.11. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The Hanover Insurance Group’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.87 earnings per share. On average, sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given 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 dividend yield of 1.9%. The Hanover Insurance Group’s payout ratio is presently 19.12%.

The Hanover Insurance Group announced that its Board of Directors has approved a share buyback program on Wednesday, May 13th that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The Hanover Insurance Group Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding THG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hanover Insurance Group, Inc. (NYSE:THGFree Report).

Institutional Ownership by Quarter for The Hanover Insurance Group (NYSE:THG)

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