Sanctuary Advisors LLC Invests $2.21 Million in The Hanover Insurance Group, Inc. $THG

Sanctuary Advisors LLC acquired a new stake in The Hanover Insurance Group, Inc. (NYSE:THG) in the 2nd quarter, Holdings Channel reports. The fund acquired 10,340 shares of the insurance provider’s stock, valued at approximately $2,214,000.

A number of other hedge funds have also made changes to their positions in the stock. Millennium Management LLC lifted its holdings in shares of The Hanover Insurance Group by 61.0% in the first quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after buying an additional 33,495 shares during the period. NewEdge Advisors LLC grew its stake in shares of The Hanover Insurance Group by 1,568.9% in the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 706 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of The Hanover Insurance Group by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after purchasing an additional 38,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of The Hanover Insurance Group by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after purchasing an additional 7,712 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in The Hanover Insurance Group by 7.7% during the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after purchasing an additional 20,294 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insider Buying and Selling

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of the business’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 directly owned 2,270 shares of the company’s stock, valued at $525,505. The trade was a 30.58% 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, EVP Dennis Francis Kerrigan sold 2,104 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total transaction of $467,950.64. Following the transaction, the executive vice president owned 12,003 shares in the company, valued at approximately $2,669,587.23. This trade represents a 14.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 9,655 shares of company stock valued at $2,145,846 over the last quarter. Corporate insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $228.40 on Thursday. 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 fifty-two week low of $166.54 and a fifty-two week high of $236.07. The stock’s 50-day moving average is $218.72 and its two-hundred day moving average is $194.60. The firm has a market cap of $7.95 billion, a P/E ratio of 10.90 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $1.47. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $4.35 EPS. Analysts predict that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current fiscal year.

The Hanover Insurance Group declared that its board has authorized a stock buyback plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

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

Analyst Upgrades and Downgrades

THG has been the subject of a number of research reports. Citizens Jmp raised their target price on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 29th. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods boosted their target price on The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Two investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.71.

The Hanover Insurance Group 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.