Interval Partners LP Lowers Holdings in The Hanover Insurance Group, Inc. $THG

Interval Partners LP decreased its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 5.8% in the 1st quarter, HoldingsChannel reports. The firm owned 91,227 shares of the insurance provider’s stock after selling 5,618 shares during the quarter. Interval Partners LP’s holdings in The Hanover Insurance Group were worth $15,869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Gotham Asset Management LLC boosted its stake in shares of The Hanover Insurance Group by 22.6% in the first quarter. Gotham Asset Management LLC now owns 82,958 shares of the insurance provider’s stock valued at $14,431,000 after purchasing an additional 15,311 shares during the period. Hancock Whitney Corp purchased a new position in shares of The Hanover Insurance Group in the first quarter valued at approximately $9,108,000. Alliancebernstein L.P. boosted its stake in shares of The Hanover Insurance Group by 9.3% in the first quarter. Alliancebernstein L.P. now owns 940,522 shares of the insurance provider’s stock valued at $163,604,000 after purchasing an additional 80,262 shares during the period. AQR Capital Management LLC boosted its stake in shares of The Hanover Insurance Group by 59.3% in the first quarter. AQR Capital Management LLC now owns 457,809 shares of the insurance provider’s stock valued at $79,032,000 after purchasing an additional 170,453 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of The Hanover Insurance Group by 26.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 365,000 shares of the insurance provider’s stock valued at $63,492,000 after purchasing an additional 76,100 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Up 2.1%

THG stock opened at $181.11 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11. The Hanover Insurance Group, Inc. has a twelve month low of $142.48 and a twelve month high of $181.38. The company’s 50 day moving average is $169.02 and its two-hundred day moving average is $167.54. The stock has a market cap of $6.48 billion, a P/E ratio of 11.92 and a beta of 0.46.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $1.28. The Hanover Insurance Group had a net margin of 8.67% and a return on equity of 20.24%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company earned $1.88 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.60 dividend on an annualized basis and a yield of 2.0%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 23.70%.

Analysts Set New Price Targets

Several research firms have recently commented on THG. Morgan Stanley raised their price objective on shares of The Hanover Insurance Group from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. JMP Securities set a $205.00 target price on shares of The Hanover Insurance Group in a report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a “market perform” rating to an “outperform” rating and set a $188.00 target price on the stock in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.13.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.