The Manufacturers Life Insurance Company Makes New Investment in The Hanover Insurance Group, Inc. $THG

The Manufacturers Life Insurance Company acquired a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 25,188 shares of the insurance provider’s stock, valued at approximately $5,393,000.

A number of other institutional investors also recently modified their holdings of THG. Basecamp Wealth Advisors LLC grew its stake in shares of The Hanover Insurance Group by 19.1% during the first quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 55 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in The Hanover Insurance Group by 5.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock worth $195,000 after purchasing an additional 59 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in 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 worth $344,000 after purchasing an additional 64 shares during the last quarter. Ballentine Partners LLC lifted 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 buying an additional 66 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased 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 valued at $2,183,000 after buying an additional 66 shares during the period. 86.61% of the stock is owned by institutional investors.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Dennis Francis Kerrigan sold 2,104 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total value of $467,950.64. Following the completion of the sale, the executive vice president owned 12,003 shares in the company, valued at $2,669,587.23. This represents a 14.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction 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 directly owned 2,270 shares in the company, valued at $525,505. The trade was a 30.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,655 shares of company stock worth $2,145,846. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

THG has been the topic of several research reports. BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price objective on The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Oppenheimer boosted their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Finally, Morgan Stanley increased their price objective on shares of 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. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $225.71.

The Hanover Insurance Group Trading Down 0.7%

NYSE THG opened at $226.07 on Tuesday. The Hanover Insurance Group, Inc. has a 12 month low of $166.54 and a 12 month high of $236.07. The stock has a 50-day simple moving average of $220.39 and a 200 day simple moving average of $195.72. 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 company has a market capitalization of $7.87 billion, a PE ratio of 10.79 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations 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 was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.35 earnings per share. Research analysts forecast that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current year.

The Hanover Insurance Group announced that its Board of Directors has initiated a stock 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 purchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. 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.