Global Retirement Partners LLC Acquires New Position in The Hanover Insurance Group, Inc. $THG

Global Retirement Partners LLC acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,816 shares of the insurance provider’s stock, valued at approximately $817,000.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at approximately $69,481,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of The Hanover Insurance Group during the second quarter worth about $677,000. State of Wyoming purchased a new position in The Hanover Insurance Group during the 2nd quarter worth approximately $81,000. GSA Capital Partners LLP purchased a new position in shares of The Hanover Insurance Group during the second quarter worth approximately $512,000. Finally, Clearstead Trust LLC acquired a new position in The Hanover Insurance Group in the second quarter valued at $36,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on THG. Royal Bank Of Canada boosted their target price 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. Oppenheimer lifted their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citizens Jmp upped their target price on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 29th. Finally, Piper Sandler downgraded 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 report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $223.57.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $222.32 on Wednesday. The Hanover Insurance Group, Inc. has a 12-month low of $166.54 and a 12-month high of $236.07. The stock has a market capitalization of $7.74 billion, a P/E ratio of 10.61 and a beta of 0.27. The firm’s 50-day moving average is $215.51 and its two-hundred day moving average is $192.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $4.35 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Equities analysts predict that The Hanover Insurance Group, Inc. will post 20.15 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s payout ratio is 18.14%.

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

Insider Buying and Selling

In other The Hanover Insurance Group news, Director Francisco Aristeguieta sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the transaction, the director owned 4,053 shares in the company, valued at $791,834.61. The trade was a 19.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $525,505. This represents a 30.58% decrease in their position. The SEC filing for this sale provides additional information. 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.