The Manufacturers Life Insurance Company decreased its stake in shares of Hanover Insurance Group Inc (NYSE:THG) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,940 shares of the insurance provider’s stock after selling 2,168 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hanover Insurance Group were worth $8,010,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in Hanover Insurance Group during the fourth quarter valued at approximately $108,000. Glassman Wealth Services lifted its position in Hanover Insurance Group by 82.6% during the first quarter. Glassman Wealth Services now owns 1,163 shares of the insurance provider’s stock valued at $137,000 after purchasing an additional 526 shares during the period. Adviser Investments LLC bought a new position in Hanover Insurance Group during the first quarter valued at approximately $155,000. Campbell & CO Investment Adviser LLC bought a new position in Hanover Insurance Group during the first quarter valued at approximately $200,000. Finally, Boston Private Wealth LLC bought a new position in Hanover Insurance Group during the first quarter valued at approximately $230,000. Institutional investors own 86.26% of the company’s stock.
In other Hanover Insurance Group news, insider Mark Joseph Welzenbach sold 15,233 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $115.59, for a total transaction of $1,760,782.47. Following the completion of the sale, the insider now directly owns 30,213 shares of the company’s stock, valued at $3,492,320.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark Leo Berthiaume sold 1,924 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $117.35, for a total transaction of $225,781.40. Following the sale, the insider now directly owns 3,164 shares of the company’s stock, valued at $371,295.40. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Hanover Insurance Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. Keefe, Bruyette & Woods upgraded shares of Hanover Insurance Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 4th. Finally, ValuEngine upgraded shares of Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd.
Shares of Hanover Insurance Group stock opened at $119.56 on Monday. The company has a market cap of $5.09 billion, a P/E ratio of 25.22 and a beta of 0.98. Hanover Insurance Group Inc has a twelve month low of $87.49 and a twelve month high of $123.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.45.
Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.14. Hanover Insurance Group had a net margin of 3.97% and a return on equity of 8.33%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. research analysts anticipate that Hanover Insurance Group Inc will post 8.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 8th were issued a dividend of $0.54 per share. The ex-dividend date was Thursday, June 7th. This represents a $2.16 dividend on an annualized basis and a yield of 1.81%. Hanover Insurance Group’s dividend payout ratio is currently 45.57%.
About Hanover Insurance Group
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.
Want to see what other hedge funds are holding THG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanover Insurance Group Inc (NYSE:THG).
Receive News & Ratings for Hanover Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanover Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.