Leeward Investments LLC MA Trims Stock Position in The Hanover Insurance Group, Inc. $THG

Leeward Investments LLC MA trimmed its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,114 shares of the insurance provider’s stock after selling 2,537 shares during the quarter. Leeward Investments LLC MA owned about 0.26% of The Hanover Insurance Group worth $15,968,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at approximately $83,817,000. Alliancebernstein L.P. increased its stake in 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 acquiring an additional 339,896 shares during the last quarter. AQR Capital Management LLC increased its stake in The Hanover Insurance Group by 37.8% during the third quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock worth $137,967,000 after acquiring an additional 209,616 shares during the last quarter. Invesco Ltd. raised its position in The Hanover Insurance Group by 44.1% in the fourth quarter. Invesco Ltd. now owns 646,910 shares of the insurance provider’s stock valued at $118,236,000 after purchasing an additional 197,930 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in The Hanover Insurance Group by 206.0% in the third quarter. Balyasny Asset Management L.P. now owns 292,121 shares of the insurance provider’s stock valued at $53,058,000 after purchasing an additional 196,655 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Up 3.1%

NYSE:THG opened at $207.51 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $189.48 and its two-hundred day moving average is $180.87. The Hanover Insurance Group, Inc. has a 52 week low of $160.70 and a 52 week high of $207.79. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 10.44 and a beta of 0.30.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.87 earnings per share. Research analysts anticipate that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current year.

The Hanover Insurance Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 13th that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 19.12%.

Insider Buying and Selling

In other news, EVP Dennis Francis Kerrigan sold 6,262 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total value of $1,208,503.38. Following the completion of the transaction, the executive vice president owned 11,988 shares of the company’s stock, valued at approximately $2,313,564.12. This trade represents a 34.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Francisco Aristeguieta sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $195.37, for a total transaction of $195,370.00. Following the completion of the transaction, the director owned 4,053 shares of the company’s stock, valued at $791,834.61. This trade represents a 19.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,508 shares of company stock worth $5,704,651 over the last 90 days. 2.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on THG. Oppenheimer increased their price target on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Royal Bank Of Canada boosted their price objective on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. BMO Capital Markets cut shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their target price for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. 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 investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average target price of $207.00.

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.