Strs Ohio Acquires 30,099 Shares of The Hanover Insurance Group, Inc. $THG

Strs Ohio lifted its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 3,553.6% in the 1st quarter, Holdings Channel reports. The firm owned 30,946 shares of the insurance provider’s stock after acquiring an additional 30,099 shares during the period. Strs Ohio’s holdings in The Hanover Insurance Group were worth $5,364,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in shares of The Hanover Insurance Group during the 3rd quarter valued at about $26,000. Community Bank N.A. bought a new position in The Hanover Insurance Group during the third quarter valued at approximately $27,000. McMillan Office Inc. bought a new stake in The Hanover Insurance Group in the 4th quarter worth approximately $31,000. Entrust Financial LLC bought a new stake in The Hanover Insurance Group in the 4th quarter worth approximately $33,000. Finally, Root Financial Partners LLC raised its stake in The Hanover Insurance Group by 69.3% during the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after buying an additional 97 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Stock Performance

NYSE THG traded up $4.29 on Tuesday, reaching $224.48. 24,491 shares of the stock were exchanged, compared to its average volume of 326,270. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a one year low of $160.97 and a one year high of $224.99. The firm has a market capitalization of $7.85 billion, a PE ratio of 11.24 and a beta of 0.28. The company’s 50-day simple moving average is $195.91 and its two-hundred day simple moving average is $183.02.

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

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is presently 19.12%.

The Hanover Insurance Group declared that its board has authorized a stock buyback plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on THG shares. Oppenheimer raised their price target 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. Royal Bank Of Canada raised their target price on The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Piper Sandler upped their price target on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. BMO Capital Markets cut shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $194.00 to $203.00 in a research note on Tuesday, May 19th. Finally, Morgan Stanley upped their target price on shares of The Hanover Insurance Group from $195.00 to $220.00 and gave the company an “equal weight” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.57.

Insider Buying and Selling at The Hanover Insurance Group

In related news, CEO John C. Roche sold 8,358 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 141,011 shares in the company, valued at approximately $27,319,471.14. This trade represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dennis Francis Kerrigan sold 6,262 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 directly owned 11,988 shares in the company, valued at approximately $2,313,564.12. This represents a 34.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,508 shares of company stock valued at $5,704,651. 2.80% of the stock is currently owned by corporate insiders.

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.