Wells Fargo & Company MN boosted its holdings in Hanover Insurance Group Inc (NYSE:THG) by 26.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 352,860 shares of the insurance provider’s stock after purchasing an additional 74,895 shares during the quarter. Wells Fargo & Company MN’s holdings in Hanover Insurance Group were worth $40,286,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC purchased a new stake in shares of Hanover Insurance Group during the fourth quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in shares of Hanover Insurance Group during the fourth quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Hanover Insurance Group by 204.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 209 shares during the period. Huntington National Bank purchased a new stake in shares of Hanover Insurance Group during the first quarter valued at approximately $46,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Hanover Insurance Group by 350.5% during the first quarter. Quadrant Capital Group LLC now owns 847 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 659 shares during the period. Hedge funds and other institutional investors own 85.15% of the company’s stock.
THG opened at $124.67 on Thursday. The company has a market cap of $5.05 billion, a PE ratio of 18.36 and a beta of 0.65. Hanover Insurance Group Inc has a 52-week low of $104.59 and a 52-week high of $131.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.
Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.17. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. Hanover Insurance Group had a net margin of 9.19% and a return on equity of 11.02%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 earnings per share. Equities research analysts predict that Hanover Insurance Group Inc will post 8.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.93%. Hanover Insurance Group’s dividend payout ratio (DPR) is presently 35.35%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research note on Tuesday, May 7th. Compass Point assumed coverage on shares of Hanover Insurance Group in a research note on Friday, March 1st. They set a “buy” rating and a $118.71 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Hanover Insurance Group has a consensus rating of “Buy” and a consensus price target of $131.93.
In related news, EVP Richard W. Lavey sold 5,000 shares of Hanover Insurance Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $121.15, for a total value of $605,750.00. Following the completion of the sale, the executive vice president now owns 20,637 shares in the company, valued at $2,500,172.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ann Kirkpatrick Tripp sold 3,515 shares of Hanover Insurance Group stock in a transaction on Monday, May 6th. The stock was sold at an average price of $121.78, for a total transaction of $428,056.70. Following the completion of the sale, the insider now owns 18,285 shares of the company’s stock, valued at approximately $2,226,747.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,420 shares of company stock valued at $4,177,026. Insiders own 1.65% of the company’s stock.
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About Hanover Insurance Group
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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