Jupiter Topco LLC Makes New Investment in The Hanover Insurance Group, Inc. $THG

Jupiter Topco LLC bought a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) in the second quarter, Holdings Channel.com reports. The institutional investor bought 100,557 shares of the insurance provider’s stock, valued at approximately $21,533,000.

Several other hedge funds and other institutional investors have also modified their holdings of THG. BlackRock Inc. acquired a new position in shares of The Hanover Insurance Group in the 2nd quarter valued at about $756,471,000. Alliancebernstein L.P. grew its position in The Hanover Insurance Group by 36.1% during the second quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after purchasing an additional 339,896 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of The Hanover Insurance Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock worth $168,179,000 after acquiring an additional 136,998 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of The Hanover Insurance Group by 24.9% during the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock worth $174,322,000 after purchasing an additional 190,350 shares in the last quarter. Finally, First Trust Advisors LP grew its position in The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after acquiring an additional 25,945 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insider Activity at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of the business’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 transaction of $231,500.00. Following the transaction, the director directly owned 2,270 shares of the company’s stock, valued at approximately $525,505. The trade was a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dennis Francis Kerrigan sold 2,104 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the transaction, the executive vice president directly owned 12,003 shares in the company, valued at $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,655 shares of company stock worth $2,145,846 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Trading Up 0.0%

Shares of NYSE THG opened at $227.73 on Friday. The company’s fifty day moving average is $219.90 and its 200-day moving average is $195.19. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 10.87 and a beta of 0.27. The Hanover Insurance Group, Inc. has a twelve month low of $166.54 and a twelve month high of $236.07. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping the consensus estimate of $3.84 by $1.47. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $4.35 EPS. Equities research analysts predict that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current year.

The Hanover Insurance Group declared that its Board of Directors has approved a stock buyback program on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are 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 given 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 18.14%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. Royal Bank Of Canada lifted their price target on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Piper Sandler cut The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target on the stock. in a research report on Wednesday, July 15th. BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $194.00 to $203.00 in a research report on Tuesday, May 19th. Finally, Morgan Stanley raised their price objective on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Two 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.71.

The Hanover Insurance Group Company 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.