Sterling Capital Management LLC Buys 2,967 Shares of The Hanover Insurance Group, Inc. $THG

Sterling Capital Management LLC increased its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,952 shares of the insurance provider’s stock after acquiring an additional 2,967 shares during the period. Sterling Capital Management LLC’s holdings in The Hanover Insurance Group were worth $8,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in THG. Horizon Investment Services LLC purchased a new position in shares of The Hanover Insurance Group in the second quarter worth about $205,000. Bank of New York Mellon Corp raised its stake in The Hanover Insurance Group by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 360,040 shares of the insurance provider’s stock valued at $61,160,000 after buying an additional 14,641 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of The Hanover Insurance Group in the second quarter worth $1,332,000. Simon Quick Advisors LLC bought a new position in shares of The Hanover Insurance Group during the second quarter valued at $217,000. Finally, Strs Ohio raised its position in shares of The Hanover Insurance Group by 38.1% in the 2nd quarter. Strs Ohio now owns 18,314 shares of the insurance provider’s stock worth $3,111,000 after purchasing an additional 5,050 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Price Performance

NYSE THG opened at $176.57 on Friday. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 10.21 and a beta of 0.44. The Hanover Insurance Group, Inc. has a 1-year low of $145.17 and a 1-year high of $186.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.37 and a quick ratio of 0.37. The business’s fifty day moving average price is $176.39 and its 200-day moving average price is $171.14.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, October 29th. The insurance provider reported $5.09 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.30. The Hanover Insurance Group had a return on equity of 22.43% and a net margin of 9.71%.The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. The Hanover Insurance Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts predict that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, September 12th. The Hanover Insurance Group’s dividend payout ratio is 20.82%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JMP Securities set a $205.00 price objective on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Morgan Stanley increased their price target on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on The Hanover Insurance Group from $198.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.83.

The 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 through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.