Los Angeles Capital Management LLC Invests $2.95 Million in The Hanover Insurance Group, Inc. $THG

Los Angeles Capital Management LLC bought a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,346 shares of the insurance provider’s stock, valued at approximately $2,947,000.

Several other hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in The Hanover Insurance Group by 2.8% in the 2nd quarter. Truist Financial Corp now owns 2,255 shares of the insurance provider’s stock valued at $383,000 after buying an additional 62 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 3.8% in the first quarter. Evergreen Capital Management LLC now owns 1,811 shares of the insurance provider’s stock valued at $315,000 after acquiring an additional 67 shares in the last quarter. UMB Bank n.a. grew its stake in shares of The Hanover Insurance Group by 20.3% in the second quarter. UMB Bank n.a. now owns 468 shares of the insurance provider’s stock valued at $79,000 after acquiring an additional 79 shares in the last quarter. Somerset Trust Co increased its position in The Hanover Insurance Group by 7.1% during the second quarter. Somerset Trust Co now owns 1,265 shares of the insurance provider’s stock worth $215,000 after acquiring an additional 84 shares during the period. Finally, Intrust Bank NA raised its stake in The Hanover Insurance Group by 1.8% in the 1st quarter. Intrust Bank NA now owns 4,886 shares of the insurance provider’s stock worth $850,000 after purchasing an additional 85 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on THG. Morgan Stanley increased their target price on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $198.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. JMP Securities set a $205.00 target price on The Hanover Insurance Group in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of The Hanover Insurance Group in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.83.

The Hanover Insurance Group Stock Up 1.0%

Shares of THG opened at $181.30 on Tuesday. The firm has a 50 day simple moving average of $176.67 and a two-hundred day simple moving average of $171.53. The company has a market cap of $6.45 billion, a P/E ratio of 10.49 and a beta of 0.44. The Hanover Insurance Group, Inc. has a one year low of $145.17 and a one 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 Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $5.09 EPS for the quarter, topping 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 previous year, the firm earned $3.05 EPS. The Hanover Insurance Group’s revenue was up 6.4% on a year-over-year basis. Research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

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

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.