Leeward Investments LLC MA Cuts Holdings in The Hanover Insurance Group, Inc. $THG

Leeward Investments LLC MA lowered its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 2.7% during the first quarter, Holdings Channel.com reports. The firm owned 92,114 shares of the insurance provider’s stock after selling 2,537 shares during the quarter. Leeward Investments LLC MA’s holdings in The Hanover Insurance Group were worth $15,968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Alliancebernstein L.P. grew its position in shares of 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. AQR Capital Management LLC raised its holdings in The Hanover Insurance Group by 24.9% in the fourth quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock valued at $174,322,000 after acquiring an additional 190,350 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in The Hanover Insurance Group by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 833,179 shares of the insurance provider’s stock worth $152,285,000 after acquiring an additional 42,412 shares during the last quarter. First Trust Advisors LP lifted its stake in The Hanover Insurance Group by 25.4% in the fourth quarter. First Trust Advisors LP now owns 801,375 shares of the insurance provider’s stock worth $146,467,000 after acquiring an additional 162,111 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in The Hanover Insurance Group by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock worth $133,073,000 after acquiring an additional 29,870 shares in the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 6,262 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total value of $1,208,503.38. Following the completion of the transaction, the executive vice president owned 11,988 shares in the company, valued at $2,313,564.12. This represents a 34.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cynthia Egan sold 3,400 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the transaction, the director directly owned 9,359 shares in the company, valued at approximately $1,764,171.50. The trade was a 26.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,508 shares of company stock worth $5,704,651. Insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of THG opened at $207.51 on Wednesday. The stock has a 50 day moving average price of $189.48 and a 200 day moving average price of $180.87. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 10.44 and a beta of 0.30. The Hanover Insurance Group, Inc. has a 52-week low of $160.70 and a 52-week high of $207.79.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm posted $3.87 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Research analysts predict that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current fiscal year.

The Hanover Insurance Group announced that its board has authorized a stock buyback plan on Wednesday, May 13th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 19.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on THG shares. Wall Street Zen downgraded shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, May 22nd. BMO Capital Markets downgraded shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $194.00 to $203.00 in a research note on Tuesday, May 19th. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods raised their price target on The Hanover Insurance Group from $208.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $207.00.

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.