The Hanover Insurance Group, Inc. $THG Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 21.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 56,223 shares of the insurance provider’s stock after selling 14,928 shares during the quarter. Legal & General Group Plc’s holdings in The Hanover Insurance Group were worth $10,276,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of THG. JPL Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group in the 3rd quarter valued at approximately $26,000. Community Bank N.A. purchased a new position in The Hanover Insurance Group in the 3rd quarter valued at approximately $27,000. Entrust Financial LLC purchased a new position in The Hanover Insurance Group in the 4th quarter valued at approximately $33,000. Clearstead Advisors LLC increased its stake in The Hanover Insurance Group by 300.0% in the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 150 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in The Hanover Insurance Group in the 3rd quarter valued at approximately $43,000. 86.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hanover Insurance Group

In other news, Director Francisco Aristeguieta sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the sale, the director owned 4,053 shares in the company, valued at $791,834.61. This trade represents a 19.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Denise Lowsley sold 4,175 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the sale, the executive vice president owned 3,883 shares in the company, valued at $744,487.59. This trade represents a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 29,508 shares of company stock valued at $5,704,651. 2.80% of the stock is currently owned by insiders.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $186.80 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a fifty day moving average of $183.12 and a two-hundred day moving average of $179.48. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 9.40 and a beta of 0.30. The Hanover Insurance Group, Inc. has a fifty-two week low of $160.70 and a fifty-two week high of $199.59.

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

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

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.95 per share. The ex-dividend date is Friday, June 12th. This represents a $3.80 annualized dividend and a dividend yield of 2.0%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 19.12%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Oppenheimer raised their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Royal Bank Of Canada raised their price objective on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Weiss Ratings raised The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 22nd. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $194.00 to $203.00 in a research report on Tuesday, May 19th. Finally, Wall Street Zen downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $207.00.

The Hanover Insurance Group 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.