Legato Capital Management LLC Makes New $1.24 Million Investment in The Hanover Insurance Group, Inc. $THG

Legato Capital Management LLC purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 6,774 shares of the insurance provider’s stock, valued at approximately $1,238,000.

A number of other large investors also recently made changes to their positions in THG. JPL Wealth Management LLC purchased a new position in shares of The Hanover Insurance Group during the 3rd quarter worth $26,000. Community Bank N.A. purchased a new position in shares of The Hanover Insurance Group during the 3rd quarter worth $27,000. Entrust Financial LLC purchased a new position in shares of The Hanover Insurance Group during the 4th quarter worth $33,000. Clearstead Advisors LLC lifted its stake in shares of The Hanover Insurance Group by 300.0% during the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 150 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of The Hanover Insurance Group during the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Dennis Francis Kerrigan sold 6,262 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total value of $1,208,503.38. Following the completion of the sale, the executive vice president directly owned 11,988 shares in the company, valued at approximately $2,313,564.12. This represents a 34.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Roche sold 8,358 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total value of $1,619,278.92. Following the completion of the sale, the chief executive officer owned 141,011 shares of the company’s stock, valued at approximately $27,319,471.14. This represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 29,708 shares of company stock worth $5,726,373 in the last quarter. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

THG has been the topic of several research reports. Royal Bank Of Canada increased their target price on The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Oppenheimer increased their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley set a $195.00 target price on The Hanover Insurance Group in a research report on Friday, May 1st. Wall Street Zen lowered The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $194.00 to $203.00 in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.86.

The Hanover Insurance Group Trading Up 0.1%

Shares of THG opened at $195.34 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.83 billion, a P/E ratio of 9.83 and a beta of 0.31. The stock’s fifty day simple moving average is $180.32 and its 200 day simple moving average is $178.90. The Hanover Insurance Group, Inc. has a twelve month low of $160.70 and a twelve month high of $199.59.

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

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

The Hanover Insurance Group Dividend Announcement

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

More The Hanover Insurance Group News

Here are the key news stories impacting The Hanover Insurance Group this week:

• Positive Sentiment: THG was upgraded to Zacks Rank #1 (Strong Buy), with Zacks citing improving earnings outlook and stronger estimate trends. Article title
• Positive Sentiment: THG also landed on Zacks’ Strong Buy income and Strong Buy value stock lists, reinforcing the view that the shares may still be attractive after a strong earnings beat and recent rally. Article title Article title
• Positive Sentiment: Earlier analyst updates remained constructive, including Oppenheimer raising its price target to $220 and maintaining an outperform view, which suggests further upside from current levels. Article title
• Neutral Sentiment: Two executives disclosed stock sales, including CEO John C. Roche and EVP Dennis Francis Kerrigan. Insider selling can sometimes weigh on sentiment, but the transactions were part of routine filings and do not by themselves signal a business deterioration. Article title
• Positive Sentiment: The company’s latest earnings report was strong, with EPS and revenue both topping estimates, and THG also authorized a $700 million share repurchase program, a shareholder-friendly move that can support the stock.

About The Hanover Insurance Group

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.