LSV Asset Management increased its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) by 1,586.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 25,300 shares of the insurance provider’s stock after acquiring an additional 23,800 shares during the quarter. LSV Asset Management’s holdings in The Hanover Insurance Group were worth $4,624,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its holdings in shares of The Hanover Insurance Group by 3.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock valued at $344,000 after buying an additional 64 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in The Hanover Insurance Group by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock valued at $2,183,000 after purchasing an additional 66 shares during the last quarter. Ballentine Partners LLC raised its position in The Hanover Insurance Group by 3.4% in the 4th quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock valued at $370,000 after purchasing an additional 66 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in The Hanover Insurance Group by 5.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,294 shares of the insurance provider’s stock valued at $234,000 after purchasing an additional 68 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in The Hanover Insurance Group by 4.7% in the 4th quarter. Fifth Third Bancorp now owns 1,610 shares of the insurance provider’s stock valued at $294,000 after purchasing an additional 72 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently commented on the stock. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Citizens Jmp upped their price target on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, April 30th. Royal Bank Of Canada upped their price target on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $195.00 price target on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.00.
The Hanover Insurance Group Stock Up 0.4%
THG stock opened at $195.97 on Wednesday. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 9.86 and a beta of 0.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The Hanover Insurance Group, Inc. has a 12 month low of $160.70 and a 12 month high of $199.59. The company has a fifty day moving average price of $181.19 and a 200 day moving average price of $179.18.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $1.11. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The Hanover Insurance Group’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.87 EPS. Sell-side analysts expect that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current year.
The Hanover Insurance Group declared that its Board of Directors has approved a share buyback program on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to buy up to 10.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
Insider Activity at The Hanover Insurance Group
In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 6,262 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the completion of the transaction, the executive vice president owned 11,988 shares in the company, valued at approximately $2,313,564.12. This represents a 34.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Roche sold 8,358 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the transaction, the chief executive officer owned 141,011 shares of the company’s stock, valued at approximately $27,319,471.14. The trade was a 5.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,708 shares of company stock worth $5,921,743 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.
About The Hanover Insurance Group
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.
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