Corient Private Wealth LP Buys New Shares in The Hanover Insurance Group, Inc. $THG

Corient Private Wealth LP purchased a new stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 11,580 shares of the insurance provider’s stock, valued at approximately $2,480,000.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of The Hanover Insurance Group by 61.0% during the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after acquiring an additional 33,495 shares during the period. NewEdge Advisors LLC lifted its holdings in The Hanover Insurance Group by 1,568.9% during the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock valued at $131,000 after purchasing an additional 706 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of The Hanover Insurance Group by 21.6% in the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after purchasing an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of The Hanover Insurance Group by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after purchasing an additional 7,712 shares during the period. Finally, Invesco Ltd. boosted its position in shares of The Hanover Insurance Group by 7.7% in the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock worth $48,155,000 after purchasing an additional 20,294 shares during the period. Institutional investors own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on THG shares. Citizens Jmp raised their price objective on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 29th. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. Royal Bank Of Canada raised their price target on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley boosted their price target on 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. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.71.

Insider Buying and Selling at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the sale, the director directly owned 2,270 shares of the company’s stock, valued at $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dennis Francis Kerrigan sold 2,104 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the sale, the executive vice president owned 12,003 shares in the company, valued at approximately $2,669,587.23. This represents a 14.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,655 shares of company stock valued at $2,145,846 over the last quarter. Insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Stock Up 0.5%

Shares of THG opened at $227.00 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $7.90 billion, a P/E ratio of 10.84 and a beta of 0.26. The firm has a fifty day moving average price of $221.08 and a 200-day moving average price of $196.49. The Hanover Insurance Group, Inc. has a 12-month low of $166.54 and a 12-month high of $236.07.

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

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.95 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio (DPR) is 18.14%.

The Hanover Insurance Group declared that its board has authorized a stock buyback 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 repurchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.