First Trust Advisors LP Trims Stake in Hanover Insurance Group Inc (THG)
First Trust Advisors LP trimmed its position in Hanover Insurance Group Inc (NYSE:THG) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,581 shares of the insurance provider’s stock after selling 2,352 shares during the quarter. First Trust Advisors LP owned about 0.06% of Hanover Insurance Group worth $3,104,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Nkcfo LLC purchased a new position in Hanover Insurance Group in the fourth quarter worth about $27,000. First Command Bank purchased a new position in Hanover Insurance Group in the fourth quarter worth about $40,000. First Command Financial Services Inc. purchased a new position in Hanover Insurance Group in the fourth quarter worth about $40,000. Essex Savings Bank purchased a new position in Hanover Insurance Group in the fourth quarter worth about $45,000. Finally, Advisors Asset Management Inc. grew its position in Hanover Insurance Group by 59.5% in the fourth quarter. Advisors Asset Management Inc. now owns 914 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 341 shares in the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:THG opened at $116.46 on Friday. Hanover Insurance Group Inc has a 1 year low of $104.59 and a 1 year high of $131.44. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 17.15 and a beta of 0.71. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.26.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.40 annualized dividend and a dividend yield of 2.06%. Hanover Insurance Group’s dividend payout ratio (DPR) is presently 35.35%.
In other Hanover Insurance Group news, SVP Ann Kirkpatrick Tripp sold 5,646 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $115.81, for a total transaction of $653,863.26. Following the completion of the transaction, the senior vice president now owns 18,631 shares in the company, valued at $2,157,656.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Joseph Welzenbach sold 7,402 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $113.05, for a total value of $836,796.10. The disclosure for this sale can be found here. Insiders have sold 16,693 shares of company stock valued at $1,915,638 in the last 90 days. Company insiders own 1.30% of the company’s stock.
THG has been the subject of several recent research reports. Zacks Investment Research lowered Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. ValuEngine lowered Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. Buckingham Research initiated coverage on Hanover Insurance Group in a research report on Friday, December 14th. They issued a “buy” rating for the company. Finally, Compass Point initiated coverage on Hanover Insurance Group in a research report on Friday, March 1st. They issued a “buy” rating and a $118.71 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Hanover Insurance Group presently has a consensus rating of “Buy” and an average target price of $130.57.
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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 in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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