The Manufacturers Life Insurance Company Invests $5.39 Million in The Hanover Insurance Group, Inc. $THG

The Manufacturers Life Insurance Company acquired a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,188 shares of the insurance provider’s stock, valued at approximately $5,393,000. The Manufacturers Life Insurance Company owned about 0.07% of The Hanover Insurance Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of The Hanover Insurance Group in the second quarter valued at $756,471,000. Norges Bank acquired a new stake in The Hanover Insurance Group during the fourth quarter worth $83,817,000. Alliancebernstein L.P. boosted its stake 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 worth $217,505,000 after buying an additional 339,896 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in The Hanover Insurance Group in the 2nd quarter valued at $69,481,000. Finally, AQR Capital Management LLC increased its holdings 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. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Down 0.7%

Shares of NYSE:THG opened at $226.07 on Tuesday. The company’s fifty day moving average is $220.39 and its 200-day moving average is $195.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The Hanover Insurance Group, Inc. has a 52 week low of $166.54 and a 52 week high of $236.07. The company has a market capitalization of $7.87 billion, a PE ratio of 10.79 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $4.35 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts predict that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 18.14%.

The Hanover Insurance Group declared that its board has approved a share repurchase program on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

THG has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. BMO Capital Markets lowered shares of 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. Piper Sandler cut shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target for the company. in a research note on Wednesday, July 15th. Weiss Ratings raised The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, July 30th. Finally, Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.71.

Insider Activity at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the transaction, the director owned 2,270 shares in the company, valued at approximately $525,505. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dennis Francis Kerrigan sold 2,104 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total value 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,655 shares of company stock valued at $2,145,846. Company insiders own 2.80% of the company’s stock.

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.