The Manufacturers Life Insurance Company Purchases 15,281 Shares of Hanover Insurance Group Inc (NYSE:THG)

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The Manufacturers Life Insurance Company raised its stake in Hanover Insurance Group Inc (NYSE:THG) by 8.3% during the first quarter, Holdings Channel reports. The fund owned 199,984 shares of the insurance provider’s stock after buying an additional 15,281 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hanover Insurance Group were worth $22,832,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Lindbrook Capital LLC acquired a new position in shares of Hanover Insurance Group in the fourth quarter valued at about $26,000. Riverview Trust Co acquired a new stake in Hanover Insurance Group during the 4th quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV grew its position in shares of Hanover Insurance Group by 204.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the insurance provider’s stock worth $36,000 after buying an additional 209 shares during the period. Resources Investment Advisors Inc. grew its position in shares of Hanover Insurance Group by 80.1% during the 1st quarter. Resources Investment Advisors Inc. now owns 362 shares of the insurance provider’s stock worth $41,000 after buying an additional 161 shares during the period. Finally, Huntington National Bank bought a new position in shares of Hanover Insurance Group in the 1st quarter worth $46,000. 85.15% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on THG. Compass Point assumed coverage on Hanover Insurance Group in a research note on Friday, March 1st. They set a “buy” rating and a $118.71 target price on the stock. Zacks Investment Research upgraded Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Hanover Insurance Group presently has an average rating of “Buy” and an average price target of $131.93.

In other Hanover Insurance Group news, insider J Kendall Huber sold 23,261 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $121.51, for a total transaction of $2,826,444.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Kirkpatrick Tripp sold 1,777 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $121.57, for a total value of $216,029.89. Following the transaction, the executive vice president now owns 18,285 shares in the company, valued at $2,222,907.45. The disclosure for this sale can be found here. In the last three months, insiders sold 33,553 shares of company stock valued at $4,076,281. Insiders own 1.65% of the company’s stock.

NYSE THG opened at $126.83 on Friday. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 18.68 and a beta of 0.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.40 and a quick ratio of 0.40. Hanover Insurance Group Inc has a 1-year low of $104.59 and a 1-year high of $131.44.

Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.17. Hanover Insurance Group had a return on equity of 11.02% and a net margin of 9.19%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $1.54 EPS. Hanover Insurance Group’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that Hanover Insurance Group Inc will post 8.1 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 1.89%. Hanover Insurance Group’s payout ratio is presently 35.35%.

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Hanover Insurance Group Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.

Further Reading: NASDAQ Stock Market Explained

Want to see what other hedge funds are holding THG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanover Insurance Group Inc (NYSE:THG).

Institutional Ownership by Quarter for Hanover Insurance Group (NYSE:THG)

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