Nordea Investment Management AB Has $11.64 Million Position in The Hanover Insurance Group, Inc. $THG

Nordea Investment Management AB lifted its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 5.0% during the third quarter, HoldingsChannel reports. The fund owned 64,569 shares of the insurance provider’s stock after purchasing an additional 3,068 shares during the quarter. Nordea Investment Management AB’s holdings in The Hanover Insurance Group were worth $11,644,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of The Hanover Insurance Group during the 2nd quarter worth about $77,169,000. Alliancebernstein L.P. raised its position in The Hanover Insurance Group by 36.1% during 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 in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in The Hanover Insurance Group by 52.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 558,000 shares of the insurance provider’s stock valued at $94,787,000 after acquiring an additional 193,000 shares during the last quarter. AQR Capital Management LLC grew its position in The Hanover Insurance Group by 21.0% in the second quarter. AQR Capital Management LLC now owns 553,815 shares of the insurance provider’s stock worth $93,190,000 after acquiring an additional 96,006 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of The Hanover Insurance Group during the 2nd quarter worth $16,217,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

Insider Activity at The Hanover Insurance Group

In related news, EVP Denise Lowsley sold 1,619 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $181.47, for a total transaction of $293,799.93. Following the sale, the executive vice president directly owned 3,511 shares in the company, valued at $637,141.17. This represents a 31.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on THG. Morgan Stanley lifted their price objective on shares of The Hanover Insurance Group from $185.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of The Hanover Insurance Group in a research note on Wednesday, October 8th. Royal Bank Of Canada began coverage on The Hanover Insurance Group in a report on Monday, November 24th. They set a “sector perform” rating and a $200.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on The Hanover Insurance Group from $198.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.00.

The Hanover Insurance Group Stock Performance

Shares of NYSE THG opened at $169.91 on Friday. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 9.83 and a beta of 0.33. The Hanover Insurance Group, Inc. has a one year low of $147.76 and a one year high of $188.18. The business has a fifty day simple moving average of $181.24 and a 200 day simple moving average of $175.58. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.25.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, October 29th. The insurance provider reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $1.30. The Hanover Insurance Group had a net margin of 9.71% and a return on equity of 21.73%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts expect that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were paid a dividend of $0.95 per share. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, December 12th. The Hanover Insurance Group’s payout ratio is currently 21.98%.

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.