Public Employees Retirement System of Ohio acquired a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,355 shares of the insurance provider’s stock, valued at approximately $2,431,000.
Several other institutional investors have also bought and sold shares of THG. BlackRock Inc. bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth about $756,471,000. Alliancebernstein L.P. boosted its holdings in shares of The Hanover Insurance Group by 36.1% in the second quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after acquiring an additional 339,896 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of The Hanover Insurance Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after acquiring an additional 136,998 shares during the period. AQR Capital Management LLC raised its holdings in The Hanover Insurance Group by 24.9% during the fourth quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock worth $174,322,000 after purchasing an additional 190,350 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in The Hanover Insurance Group by 3.2% during the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after purchasing an additional 25,945 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.
The Hanover Insurance Group Trading Down 1.4%
The Hanover Insurance Group stock opened at $228.52 on Friday. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 10.91 and a beta of 0.26. The Hanover Insurance Group, Inc. has a 1 year low of $166.54 and a 1 year high of $236.07. The firm’s 50 day moving average price is $221.88 and its two-hundred day moving average price is $197.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38.
The Hanover Insurance Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The Hanover Insurance Group’s payout ratio is 18.14%.
The Hanover Insurance Group announced that its board has initiated a share buyback plan on Wednesday, May 13th that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of research firms have weighed in on THG. Royal Bank Of Canada upped their target price on The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Oppenheimer boosted their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Morgan Stanley upped their price objective on The Hanover Insurance Group from $235.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods boosted their price target on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets downgraded shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.71.
Get Our Latest Stock Analysis on The Hanover Insurance Group
Insider Buying and Selling at The Hanover Insurance Group
In other news, EVP Dennis Kerrigan sold 2,104 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the sale, the executive vice president directly owned 12,003 shares of the company’s stock, valued at $2,669,587.23. This represents a 14.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the transaction, the director directly owned 2,270 shares in the company, valued at $525,505. This represents a 30.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 9,655 shares of company stock valued at $2,145,846. 2.80% of the stock is currently owned by company insiders.
The Hanover Insurance Group Company Profile
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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