Deutsche Bank AG Makes New Investment in The Hanover Insurance Group, Inc. $THG

Deutsche Bank AG acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 16,407 shares of the insurance provider’s stock, valued at approximately $3,513,000.

A number of other large investors have also recently made changes to their positions in THG. JPL Wealth Management LLC bought a new stake in The Hanover Insurance Group during the 3rd quarter worth approximately $26,000. Clearstead Trust LLC purchased a new stake in shares of The Hanover Insurance Group in the second quarter worth $36,000. McMillan Office Inc. purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter worth $31,000. Entrust Financial LLC bought a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at $33,000. Finally, Root Financial Partners LLC raised its position in shares of The Hanover Insurance Group by 69.3% during the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 97 shares during the period. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the sale, the director owned 2,270 shares of the company’s stock, valued at $525,505. The trade was a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Dennis Francis Kerrigan sold 6,551 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total value of $1,446,395.29. Following the sale, the executive vice president directly owned 12,003 shares in the company, valued at $2,650,142.37. This trade represents a 35.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,655 shares of company stock valued at $2,145,846 in the last 90 days. 2.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on THG shares. Keefe, Bruyette & Woods upped their target price on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Morgan Stanley raised their price target on The Hanover Insurance Group from $235.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Royal Bank Of Canada upped their price objective on The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Piper Sandler cut The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price for the company. in a research report on Wednesday, July 15th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.71.

The Hanover Insurance Group Stock Up 0.6%

Shares of THG stock opened at $228.40 on Thursday. The company’s fifty day simple moving average is $218.72 and its two-hundred day simple moving average is $194.60. The Hanover Insurance Group, Inc. has a 52 week low of $166.54 and a 52 week high of $236.07. The stock has a market cap of $7.95 billion, a P/E ratio of 10.90 and a beta of 0.27. 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 Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business posted $4.35 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts predict that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current fiscal year.

The Hanover Insurance Group declared that its Board of Directors has approved a share repurchase program on Wednesday, May 13th that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The Hanover Insurance Group Announces Dividend

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

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.