Vestcor Inc Sells 5,310 Shares of The Hanover Insurance Group, Inc. $THG

Vestcor Inc reduced its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 27.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,783 shares of the insurance provider’s stock after selling 5,310 shares during the quarter. Vestcor Inc’s holdings in The Hanover Insurance Group were worth $2,503,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of The Hanover Insurance Group during the second quarter worth approximately $77,169,000. Alliancebernstein L.P. increased its position in shares of The Hanover Insurance Group by 36.1% during the second quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock worth $217,505,000 after purchasing an additional 339,896 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of The Hanover Insurance Group by 52.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 558,000 shares of the insurance provider’s stock valued at $94,787,000 after acquiring an additional 193,000 shares during the period. First Trust Advisors LP grew its position in The Hanover Insurance Group by 28.5% during the 3rd quarter. First Trust Advisors LP now owns 639,264 shares of the insurance provider’s stock worth $116,110,000 after purchasing an additional 141,835 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of The Hanover Insurance Group during the third quarter worth about $25,409,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Trading Up 0.1%

Shares of THG opened at $174.53 on Wednesday. The Hanover Insurance Group, Inc. has a fifty-two week low of $147.76 and a fifty-two week high of $188.18. The stock has a fifty day moving average of $174.71 and a two-hundred day moving average of $177.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market capitalization of $6.13 billion, a PE ratio of 9.61 and a beta of 0.31.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Friday, February 20th. The insurance provider reported $5.46 earnings per share for the quarter. The Hanover Insurance Group had a return on equity of 21.00% and a net margin of 10.05%.The firm had revenue of $1.67 billion for the quarter. As a group, analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.80 annualized dividend and a yield of 2.2%. The Hanover Insurance Group’s payout ratio is 20.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $207.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Wall Street Zen cut The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada assumed coverage on The Hanover Insurance Group in a report on Monday, November 24th. They issued a “sector perform” rating and a $200.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and an average target price of $200.60.

Insider Activity

In other news, EVP Richard W. Lavey sold 24,420 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $178.92, for a total value of $4,369,226.40. Following the transaction, the executive vice president directly owned 32,174 shares in the company, valued at approximately $5,756,572.08. This trade represents a 43.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jane D. Carlin sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $180.91, for a total value of $217,092.00. Following the transaction, the director owned 2,423 shares of the company’s stock, valued at $438,344.93. This represents a 33.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.50% 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.