Cibc World Market Inc. Makes New $620,000 Investment in The Hanover Insurance Group, Inc. $THG

Cibc World Market Inc. bought a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) during the second quarter, Holdings Channel.com reports. The fund bought 2,895 shares of the insurance provider’s stock, valued at approximately $620,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Legato Capital Management LLC acquired a new position in shares of The Hanover Insurance Group in the 4th quarter valued at $1,238,000. Intech Investment Management LLC purchased a new position in The Hanover Insurance Group during the 4th quarter worth $4,926,000. UBS Group AG grew its position in The Hanover Insurance Group by 58.7% during the 4th quarter. UBS Group AG now owns 149,300 shares of the insurance provider’s stock worth $27,288,000 after purchasing an additional 55,220 shares during the last quarter. Norges Bank acquired a new position in The Hanover Insurance Group in the fourth quarter valued at $83,817,000. Finally, LSV Asset Management increased its stake in The Hanover Insurance Group by 1,586.7% in the fourth quarter. LSV Asset Management now owns 25,300 shares of the insurance provider’s stock valued at $4,624,000 after purchasing an additional 23,800 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on THG shares. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, July 30th. Morgan Stanley boosted their price target on The Hanover Insurance Group from $235.00 to $240.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Citizens Jmp increased their price objective on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 29th. Finally, Oppenheimer increased their price objective on 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. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and a consensus price target of $225.71.

Insider Buying and Selling

In other news, EVP Dennis Francis Kerrigan sold 6,551 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the completion of the transaction, the executive vice president directly owned 12,003 shares of the company’s stock, valued at approximately $2,650,142.37. This represents a 35.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the sale, the director directly owned 2,270 shares of the company’s stock, valued at $525,505. This represents a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,655 shares of company stock valued at $2,145,846. Company insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Trading Down 0.4%

Shares of The Hanover Insurance Group stock opened at $227.61 on Friday. The Hanover Insurance Group, Inc. has a 52-week low of $166.54 and a 52-week high of $236.07. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The company’s 50-day simple moving average is $219.31 and its 200-day simple moving average is $194.96. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 10.86 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.35 earnings per share. As a group, equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced 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. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is 18.14%.

The Hanover Insurance Group announced that its board has approved a share repurchase plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

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.