VIRGINIA RETIREMENT SYSTEMS ET Al Takes $466,000 Position in The Hanover Insurance Group, Inc. $THG

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,550 shares of the insurance provider’s stock, valued at approximately $466,000.

Several other institutional investors also recently modified their holdings of the business. Millennium Management LLC lifted its holdings in The Hanover Insurance Group by 61.0% during the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock worth $15,371,000 after buying an additional 33,495 shares during the period. NewEdge Advisors LLC raised its position in shares of The Hanover Insurance Group by 1,568.9% during the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock worth $131,000 after acquiring an additional 706 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of The Hanover Insurance Group by 21.6% in the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after acquiring an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of The Hanover Insurance Group by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock valued at $22,445,000 after purchasing an additional 7,712 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of The Hanover Insurance Group by 7.7% during the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after acquiring an additional 20,294 shares during the period. Institutional investors own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating in a report on Tuesday. Citizens Jmp upped their price target on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, April 30th. Wall Street Zen lowered shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average target price of $203.60.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $197.18 on Tuesday. The stock’s 50-day simple moving average is $178.73 and its two-hundred day simple moving average is $178.20. The Hanover Insurance Group, Inc. has a twelve month low of $160.70 and a twelve month high of $199.59. The firm has a market capitalization of $6.90 billion, a P/E ratio of 9.92 and a beta of 0.31. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.14 by $1.11. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The Hanover Insurance Group’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.87 earnings per share. As a group, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 18.45 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a $0.95 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.9%. The Hanover Insurance Group’s dividend payout ratio is presently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 13th that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,200 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $180.91, for a total transaction of $217,092.00. Following the sale, the director owned 2,423 shares in the company, valued at approximately $438,344.93. This trade represents a 33.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Denise Lowsley sold 4,175 shares of The Hanover Insurance Group stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total transaction of $800,472.75. Following the sale, the executive vice president directly owned 3,883 shares of the company’s stock, valued at $744,487.59. This represents a 51.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,837 shares of company stock valued at $1,858,577 in the last quarter. Insiders own 2.80% of the company’s stock.

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.