Vaughan Nelson Investment Management L.P. Decreases Position in The Hanover Insurance Group, Inc. $THG

Vaughan Nelson Investment Management L.P. reduced its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 62.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,710 shares of the insurance provider’s stock after selling 272,720 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.47% of The Hanover Insurance Group worth $28,552,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in THG. Norges Bank purchased a new position in The Hanover Insurance Group during the 4th quarter worth $83,817,000. Alliancebernstein L.P. increased its stake 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 acquiring an additional 339,896 shares during the period. AQR Capital Management LLC raised its position in The Hanover Insurance Group by 37.8% in 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 in the last quarter. Invesco Ltd. increased its stake in The Hanover Insurance Group by 44.1% in the 4th 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 in the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of 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 buying an additional 196,655 shares in the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Price Performance

Shares of THG stock opened at $201.66 on Tuesday. The company has a market capitalization of $7.06 billion, a PE ratio of 10.15 and a beta of 0.30. The firm has a fifty day simple moving average of $188.86 and a 200-day simple moving average of $180.68. 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 twelve month low of $160.70 and a twelve month high of $203.17.

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 firm had revenue of $1.70 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.87 EPS. Equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current fiscal year.

The Hanover Insurance Group announced that its board has authorized 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 an indication that the company’s leadership believes its shares are undervalued.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, June 12th. The Hanover Insurance Group’s payout ratio is 19.12%.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Cynthia Egan sold 3,400 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the sale, the director owned 9,359 shares in the company, valued at $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dennis Francis Kerrigan sold 6,262 shares of the stock in a transaction on Wednesday, May 20th. The stock was 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 in the company, valued at $2,313,564.12. This trade represents a 34.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Finally, Citizens Jmp upped their target price on The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.