West Family Investments Inc. Invests $537,000 in The Hanover Insurance Group, Inc. $THG

West Family Investments Inc. acquired a new position in The Hanover Insurance Group, Inc. (NYSE:THG) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,510 shares of the insurance provider’s stock, valued at approximately $537,000.

Several other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of The Hanover Insurance Group during the second quarter valued at $756,471,000. Norges Bank acquired a new stake in The Hanover Insurance Group during the fourth quarter valued at approximately $83,817,000. Alliancebernstein L.P. increased its holdings in shares of 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 buying an additional 339,896 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of The Hanover Insurance Group during the second quarter worth $69,481,000. Finally, AQR Capital Management LLC lifted its stake in The Hanover Insurance Group by 37.8% during the third quarter. AQR Capital Management LLC now owns 763,431 shares of the insurance provider’s stock valued at $137,967,000 after buying an additional 209,616 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Price Performance

Shares of THG stock opened at $219.37 on Thursday. The stock’s fifty day simple moving average is $215.95 and its 200 day simple moving average is $192.81. 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, Inc. has a one year low of $166.54 and a one year high of $236.07. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 10.47 and a beta of 0.27.

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

The Hanover Insurance Group Announces Dividend

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

The Hanover Insurance Group announced that its board has authorized a share buyback program on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on THG shares. Citizens Jmp raised their target price on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 29th. Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods upped their price target on The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, July 30th. Finally, Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price for the company. in a research note on Wednesday, July 15th. Two 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. According to data from MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average price target of $225.71.

Insider Activity at The Hanover Insurance Group

In related news, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the sale, the director 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

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.