Illinois Municipal Retirement Fund Raises Position in The Hanover Insurance Group, Inc. $THG

Illinois Municipal Retirement Fund grew its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 40.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,200 shares of the insurance provider’s stock after purchasing an additional 6,359 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in The Hanover Insurance Group were worth $3,848,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its holdings in The Hanover Insurance Group by 3.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock worth $344,000 after buying an additional 64 shares in the last quarter. Ballentine Partners LLC boosted its holdings in The Hanover Insurance Group by 3.4% during the 4th quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock worth $370,000 after acquiring an additional 66 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of The Hanover Insurance Group by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock worth $2,183,000 after acquiring an additional 66 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of The Hanover Insurance Group by 5.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,294 shares of the insurance provider’s stock worth $234,000 after acquiring an additional 68 shares in the last quarter. Finally, World Investment Advisors raised its holdings in shares of The Hanover Insurance Group by 3.1% in the first quarter. World Investment Advisors now owns 2,359 shares of the insurance provider’s stock valued at $409,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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 sale, the director owned 9,359 shares of the company’s stock, valued at $1,764,171.50. The trade was a 26.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John C. Roche sold 8,358 shares of the stock in a transaction on 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 sale, the chief executive officer owned 141,011 shares in the company, valued at approximately $27,319,471.14. This represents a 5.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 29,508 shares of company stock worth $5,704,651. Company insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $213.42 on Friday. The firm has a market capitalization of $7.47 billion, a PE ratio of 10.74 and a beta of 0.28. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $201.24 and a two-hundred day moving average price of $184.78. The Hanover Insurance Group, Inc. has a twelve month low of $163.18 and a twelve month high of $225.29.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $1.11. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.87 earnings per share. Equities analysts forecast that The Hanover Insurance Group, Inc. will post 18.38 EPS for the current year.

The Hanover Insurance Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase programs are generally an indication 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 was paid on Friday, June 26th. Investors 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 1.8%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s payout ratio is currently 19.12%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on THG shares. Royal Bank Of Canada boosted their price target on shares of The Hanover Insurance Group from $195.00 to $215.00 and gave the stock a “sector perform” rating in a report on Monday, July 13th. Morgan Stanley increased their price objective on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $220.00 target price (up from $211.00) on shares of The Hanover Insurance Group in a research note on Wednesday, July 8th. Citizens Jmp upped their target price on The Hanover Insurance Group from $205.00 to $225.00 and gave the company a “market outperform” rating in a report on Friday, July 10th. Finally, Weiss Ratings raised The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average target price of $218.29.

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.