ProShare Advisors LLC Has $34.36 Million Position in The Hanover Insurance Group, Inc. $THG

ProShare Advisors LLC cut its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,984 shares of the insurance provider’s stock after selling 25,692 shares during the quarter. ProShare Advisors LLC’s holdings in The Hanover Insurance Group were worth $34,358,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in shares of The Hanover Insurance Group by 36.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock worth $217,505,000 after purchasing an additional 339,896 shares in the last quarter. AQR Capital Management LLC lifted its holdings in The Hanover Insurance Group by 37.8% during the 3rd quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock valued at $137,967,000 after purchasing an additional 209,616 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in The Hanover Insurance Group by 206.0% in the third quarter. Balyasny Asset Management L.P. now owns 292,121 shares of the insurance provider’s stock valued at $53,058,000 after buying an additional 196,655 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in The Hanover Insurance Group by 52.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 558,000 shares of the insurance provider’s stock worth $94,787,000 after buying an additional 193,000 shares during the last quarter. Finally, Invesco Ltd. grew its stake in The Hanover Insurance Group by 58.4% during the third quarter. Invesco Ltd. now owns 448,980 shares of the insurance provider’s stock worth $81,548,000 after buying an additional 165,496 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insider Transactions at The Hanover Insurance Group

In related news, CEO John C. Roche sold 5,251 shares of The Hanover Insurance Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $198.06, for a total value of $1,040,013.06. Following the completion of the sale, the chief executive officer directly owned 141,011 shares in the company, valued at $27,928,638.66. This trade represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Denise Lowsley sold 4,175 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the sale, the executive vice president directly owned 3,883 shares of the company’s stock, valued at $744,487.59. This represents a 51.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 15,088 shares of company stock worth $2,898,590. 2.80% of the stock is owned by insiders.

The Hanover Insurance Group Price Performance

THG opened at $194.57 on Thursday. The Hanover Insurance Group, Inc. has a one year low of $160.70 and a one year high of $199.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The company’s 50 day simple moving average is $179.45 and its 200-day simple moving average is $178.55. The stock has a market capitalization of $6.81 billion, a P/E ratio of 9.79 and a beta of 0.31.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping 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 firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company posted $3.87 EPS. The Hanover Insurance Group’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current fiscal year.

The Hanover Insurance Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to buy up to 10.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.95 per share. The ex-dividend date was Friday, March 13th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.0%. The Hanover Insurance Group’s payout ratio is presently 19.12%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Weiss Ratings raised The Hanover Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 8th. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $194.00 to $203.00 in a research report on Tuesday. Piper Sandler boosted their price objective on The Hanover Insurance Group from $204.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.50.

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.