Meeder Asset Management Inc. Purchases New Position in The Hanover Insurance Group, Inc. $THG

Meeder Asset Management Inc. acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,632 shares of the insurance provider’s stock, valued at approximately $778,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legato Capital Management LLC bought a new position in shares of The Hanover Insurance Group during the 4th quarter valued at $1,238,000. Intech Investment Management LLC bought a new stake in The Hanover Insurance Group in the fourth quarter worth $4,926,000. UBS Group AG increased its position in The Hanover Insurance Group by 58.7% during the fourth quarter. UBS Group AG now owns 149,300 shares of the insurance provider’s stock worth $27,288,000 after buying an additional 55,220 shares during the last quarter. Norges Bank bought a new position in The Hanover Insurance Group during the fourth quarter valued at about $83,817,000. Finally, Dockside LLC bought a new position in The Hanover Insurance Group during the fourth quarter valued at about $1,225,000. Institutional investors own 86.61% of the company’s stock.

Insider Activity at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Francisco Aristeguieta sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total value of $195,370.00. Following the transaction, the director directly owned 4,053 shares of the company’s stock, valued at $791,834.61. The trade was a 19.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jane D. Carlin sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 2,270 shares of the company’s stock, valued at approximately $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on THG shares. Oppenheimer boosted their price target on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Morgan Stanley increased their price objective on The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Royal Bank Of Canada boosted their target price 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. Weiss Ratings raised The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.57.

The Hanover Insurance Group Stock Up 0.1%

The Hanover Insurance Group stock opened at $222.32 on Wednesday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 10.61 and a beta of 0.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38. The Hanover Insurance Group, Inc. has a fifty-two week low of $166.54 and a fifty-two week high of $236.07. The firm has a fifty day moving average price of $215.51 and a two-hundred day moving average price of $192.48.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.35 earnings per share. As a group, analysts forecast that The Hanover Insurance Group, Inc. will post 20.15 earnings per share for the current year.

The Hanover Insurance Group declared that its Board of Directors has initiated a share buyback program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 10.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio is presently 18.14%.

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.