Hodges Capital Management Inc. Has $7.86 Million Stock Holdings in The Hanover Insurance Group, Inc. $THG

Hodges Capital Management Inc. lessened its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,008 shares of the insurance provider’s stock after selling 2,856 shares during the quarter. Hodges Capital Management Inc. owned 0.12% of The Hanover Insurance Group worth $7,861,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted its holdings in shares of The Hanover Insurance Group by 3.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 64 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of The Hanover Insurance Group by 3.4% in the fourth 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 lifted its holdings in shares of The Hanover Insurance Group by 0.6% in the third 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 during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of The Hanover Insurance Group by 5.5% in the fourth 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 during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of The Hanover Insurance Group by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 1,610 shares of the insurance provider’s stock worth $294,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on THG shares. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Citizens Jmp increased their target price on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, April 30th. Wall Street Zen cut shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.00.

The Hanover Insurance Group Stock Up 2.7%

Shares of NYSE THG opened at $197.59 on Thursday. The company has a 50 day simple moving average of $185.21 and a 200 day simple moving average of $179.91. The firm has a market cap of $6.91 billion, a PE ratio of 9.94 and a beta of 0.30. The Hanover Insurance Group, Inc. has a 1 year low of $160.70 and a 1 year high of $199.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The business had revenue of $1.70 billion during 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 firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $3.87 EPS. On average, research analysts forecast that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors 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 yield of 1.9%. The ex-dividend date is Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 19.12%.

The Hanover Insurance Group announced that its board has authorized a share repurchase plan on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Denise Lowsley sold 4,175 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $191.73, for a total value of $800,472.75. Following the completion of the transaction, 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cynthia Egan sold 3,400 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 9,359 shares of the company’s stock, valued at approximately $1,764,171.50. This trade represents a 26.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,508 shares of company stock worth $5,704,651 over the last quarter. 2.80% of the stock is currently owned by corporate insiders.

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.