California Public Employees Retirement System Sells 10,063 Shares of The Hanover Insurance Group, Inc. $THG

California Public Employees Retirement System lessened its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 9.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,924 shares of the insurance provider’s stock after selling 10,063 shares during the period. California Public Employees Retirement System’s holdings in The Hanover Insurance Group were worth $16,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of The Hanover Insurance Group during the 4th quarter worth approximately $83,817,000. Alliancebernstein L.P. grew its position in The Hanover Insurance Group by 36.1% in the second quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after acquiring an additional 339,896 shares during the period. AQR Capital Management LLC boosted its stake in shares of 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 purchasing an additional 209,616 shares in the last quarter. Invesco Ltd. boosted its stake in shares of The Hanover Insurance Group by 44.1% in the 4th quarter. Invesco Ltd. now owns 646,910 shares of the insurance provider’s stock valued at $118,236,000 after purchasing an additional 197,930 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of The Hanover Insurance Group by 206.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 292,121 shares of the insurance provider’s stock worth $53,058,000 after purchasing an additional 196,655 shares during the last quarter. Institutional investors own 86.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on THG. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Royal Bank Of Canada lifted their target price on shares of The Hanover Insurance Group from $195.00 to $215.00 and gave the company a “sector perform” rating in a research note on Monday, July 13th. Morgan Stanley boosted their target price on The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Citizens Jmp raised their price target on The Hanover Insurance Group from $205.00 to $225.00 and gave the company a “market outperform” rating in a report on Friday, July 10th. Finally, Oppenheimer boosted their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.29.

The Hanover Insurance Group Stock Up 0.6%

Shares of THG opened at $214.10 on Friday. The business’s fifty day moving average price is $203.16 and its two-hundred day moving average price is $185.68. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 10.78 and a beta of 0.28. The Hanover Insurance Group, Inc. has a 52 week low of $163.18 and a 52 week high of $225.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $1.11. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.87 earnings per share. On average, analysts predict that The Hanover Insurance Group, Inc. will post 18.38 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

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

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

Insider Buying and Selling

In related news, EVP Dennis Francis Kerrigan sold 6,262 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the completion of the sale, the executive vice president directly owned 11,988 shares of the company’s stock, valued at $2,313,564.12. The trade was a 34.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Cynthia Egan sold 3,400 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $188.50, for a total transaction of $640,900.00. Following the completion of the transaction, the director owned 9,359 shares in the company, valued at $1,764,171.50. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is currently owned by company insiders.

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.