Legal & General Group Plc Invests $10.46 Million in The Hanover Insurance Group, Inc. $THG

Legal & General Group Plc purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 48,866 shares of the insurance provider’s stock, valued at approximately $10,463,000.

Several other institutional investors also recently bought and sold shares of THG. The Manufacturers Life Insurance Company purchased a new position in The Hanover Insurance Group during the 2nd quarter worth $5,393,000. Cibc World Market Inc. purchased a new stake in shares of The Hanover Insurance Group in the second quarter valued at about $620,000. Sanctuary Advisors LLC acquired a new position in shares of The Hanover Insurance Group during the second quarter worth about $2,214,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of The Hanover Insurance Group during the second quarter worth about $6,273,000. Finally, Globeflex Capital L P purchased a new position in The Hanover Insurance Group during the second quarter worth about $728,000. 86.61% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total value of $231,500.00. Following the sale, the director directly owned 2,270 shares of the company’s stock, valued at approximately $525,505. This trade represents a 30.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dennis Francis Kerrigan sold 2,104 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the sale, the executive vice president owned 12,003 shares of the company’s stock, valued at approximately $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,655 shares of company stock valued at $2,145,846. Insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Trading Down 0.7%

Shares of THG stock opened at $226.07 on Tuesday. The stock has a market cap of $7.87 billion, a P/E ratio of 10.79 and a beta of 0.27. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a fifty-two week low of $166.54 and a fifty-two week high of $236.07. The business has a fifty day simple moving average of $220.39 and a 200-day simple moving average of $195.72.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, beating the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $4.35 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts forecast 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 approved a stock buyback plan on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 18.14%.

Analyst Ratings Changes

A number of brokerages recently commented on THG. Piper Sandler downgraded shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research report on Wednesday, July 15th. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, July 30th. Royal Bank Of Canada raised 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 upped their price target on shares of 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. Finally, Citizens Jmp increased their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $225.71.

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.