37,549 Shares in The Hanover Insurance Group, Inc. $THG Bought by Heartland Advisors Inc.

Heartland Advisors Inc. acquired a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) during the second quarter, HoldingsChannel reports. The firm acquired 37,549 shares of the insurance provider’s stock, valued at approximately $8,040,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of The Hanover Insurance Group during the second quarter worth about $756,471,000. Alliancebernstein L.P. increased its position in The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after acquiring an additional 339,896 shares during the period. Dimensional Fund Advisors LP increased its position in The Hanover Insurance Group by 16.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after acquiring an additional 136,998 shares during the period. AQR Capital Management LLC raised its stake in The Hanover Insurance Group by 24.9% during the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock valued at $174,322,000 after acquiring an additional 190,350 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in The Hanover Insurance Group by 3.2% during the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock valued at $143,416,000 after acquiring an additional 25,945 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Price Performance

Shares of THG opened at $223.23 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $217.00 and its two-hundred day moving average is $193.36. The Hanover Insurance Group, Inc. has a twelve month low of $166.54 and a twelve month high of $236.07. The firm has a market capitalization of $7.77 billion, a PE ratio of 10.66 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $4.35 EPS. Research analysts anticipate that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

The Hanover Insurance Group announced that its board has approved a share repurchase program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is currently 18.14%.

Insider Buying and Selling at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 6,551 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the sale, the executive vice president directly owned 12,003 shares in the company, valued at approximately $2,650,142.37. The trade was a 35.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jane D. Carlin sold 1,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the transaction, the director directly owned 2,270 shares in the company, valued at approximately $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,655 shares of company stock valued at $2,145,846 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on THG shares. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Citizens Jmp upped their price target on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 29th. 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 lifted their price objective on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Finally, Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.71.

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.