The Hanover Insurance Group, Inc. $THG Shares Sold by London Co. of Virginia

London Co. of Virginia cut its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,668 shares of the insurance provider’s stock after selling 9,800 shares during the period. London Co. of Virginia owned about 1.09% of The Hanover Insurance Group worth $66,164,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of The Hanover Insurance Group in the fourth quarter valued at approximately $83,817,000. Alliancebernstein L.P. lifted its holdings in The Hanover Insurance Group by 36.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock worth $217,505,000 after buying an additional 339,896 shares in the last quarter. AQR Capital Management LLC boosted its position in The Hanover Insurance Group by 37.8% in the 3rd quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock valued at $137,967,000 after buying an additional 209,616 shares during the period. Invesco Ltd. boosted its position in The Hanover Insurance Group by 44.1% in the 4th quarter. Invesco Ltd. now owns 646,910 shares of the insurance provider’s stock valued at $118,236,000 after buying an additional 197,930 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of The Hanover Insurance Group by 206.0% in the third quarter. Balyasny Asset Management L.P. now owns 292,121 shares of the insurance provider’s stock worth $53,058,000 after acquiring an additional 196,655 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insider Buying and Selling at The Hanover Insurance Group

In other news, Director Cynthia Egan sold 3,400 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the transaction, the director owned 9,359 shares in the company, valued at approximately $1,764,171.50. This represents a 26.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Denise Lowsley sold 4,175 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the sale, the executive vice president directly owned 3,883 shares in the company, valued at $744,487.59. This trade represents a 51.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 29,508 shares of company stock worth $5,704,651. Corporate insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Price Performance

Shares of THG opened at $217.64 on Friday. The Hanover Insurance Group, Inc. has a twelve month low of $163.78 and a twelve month high of $225.29. The firm’s fifty day simple moving average is $203.61 and its 200-day simple moving average is $185.91. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 10.95 and a beta of 0.28. 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 Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $1.11. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.87 EPS. Equities analysts forecast that The Hanover Insurance Group, Inc. will post 18.38 EPS for the current fiscal year.

The Hanover Insurance Group declared 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 buy up to 10.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s payout ratio is 19.12%.

Analysts Set New Price Targets

THG has been the topic of a number of recent research reports. Citizens Jmp upped their price objective on The Hanover Insurance Group from $205.00 to $225.00 and gave the stock a “market outperform” rating in a research report on Friday, July 10th. Morgan Stanley boosted their target price on The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. 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 note on Wednesday, July 15th. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 22nd. Finally, Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average price target of $218.29.

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.