Lazard Asset Management LLC Grows Stock Position in The Hanover Insurance Group, Inc. $THG

Lazard Asset Management LLC boosted its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 24.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,230 shares of the insurance provider’s stock after purchasing an additional 3,402 shares during the quarter. Lazard Asset Management LLC’s holdings in The Hanover Insurance Group were worth $2,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in The Hanover Insurance Group by 61.0% during the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock worth $15,371,000 after buying an additional 33,495 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of The Hanover Insurance Group by 1,568.9% during the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock valued at $131,000 after acquiring an additional 706 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of The Hanover Insurance Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock valued at $38,052,000 after acquiring an additional 38,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in The Hanover Insurance Group by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after purchasing an additional 7,712 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in The Hanover Insurance Group by 7.7% during the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock worth $48,155,000 after purchasing an additional 20,294 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO John C. Roche sold 8,358 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total value of $1,619,278.92. Following the transaction, the chief executive officer owned 141,011 shares of the company’s stock, valued at approximately $27,319,471.14. This trade represents a 5.60% decrease in their position. The sale 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 company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the sale, the executive vice president directly owned 11,988 shares of the company’s stock, valued at $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. In the last 90 days, insiders sold 26,108 shares of company stock valued at $5,063,751. 2.80% of the stock is owned by insiders.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $232.88 on Friday. The Hanover Insurance Group, Inc. has a twelve month low of $165.17 and a twelve month high of $235.15. The company has a current ratio of 0.38, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $206.86 and a two-hundred day moving average of $187.68. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 11.12 and a beta of 0.28.

The Hanover Insurance Group (NYSE:THG) last released its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $4.35 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts expect that The Hanover Insurance Group, Inc. will post 19.15 earnings per share for the current fiscal year.

The Hanover Insurance Group announced that its Board of Directors has approved a stock buyback program on Wednesday, May 13th that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 annualized dividend and a dividend yield of 1.6%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 18.14%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on THG. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target on the stock. in a report on Wednesday, July 15th. Oppenheimer upped their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Citizens Jmp increased their price objective on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a report on Wednesday. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Finally, Zacks Research cut shares of The Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $223.29.

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.