Steward Partners Investment Advisory LLC bought a new position in shares of Hanover Insurance Group Inc (NYSE:THG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 200 shares of the insurance provider’s stock, valued at approximately $25,000.
Several other institutional investors also recently made changes to their positions in THG. Bartlett & Co. LLC raised its position in shares of Hanover Insurance Group by 159.0% during the second quarter. Bartlett & Co. LLC now owns 202 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 124 shares during the period. Financial Advantage Inc. acquired a new position in Hanover Insurance Group during the second quarter valued at $32,000. Resources Investment Advisors Inc. raised its position in Hanover Insurance Group by 80.1% during the first quarter. Resources Investment Advisors Inc. now owns 362 shares of the insurance provider’s stock valued at $41,000 after buying an additional 161 shares during the period. Quadrant Capital Group LLC raised its position in Hanover Insurance Group by 350.5% during the first quarter. Quadrant Capital Group LLC now owns 847 shares of the insurance provider’s stock valued at $94,000 after buying an additional 659 shares during the period. Finally, Blue Sky Asset Management LLC acquired a new position in Hanover Insurance Group during the first quarter valued at $128,000. 86.98% of the stock is currently owned by institutional investors.
NYSE:THG opened at $130.86 on Friday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 19.27 and a beta of 0.62. Hanover Insurance Group Inc has a 1-year low of $104.59 and a 1-year high of $134.29. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $130.68 and its 200 day moving average price is $122.65.
Hanover Insurance Group declared that its Board of Directors has approved a share repurchase plan on Thursday, June 27th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other Hanover Insurance Group news, EVP J Kendall Huber sold 7,510 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $130.43, for a total value of $979,529.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ann Kirkpatrick Tripp sold 3,477 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.00, for a total value of $455,487.00. Following the completion of the transaction, the insider now owns 20,107 shares in the company, valued at approximately $2,634,017. The disclosure for this sale can be found here. Insiders have sold 11,675 shares of company stock worth $1,522,248 over the last three months. 1.65% of the stock is owned by insiders.
Several research analysts recently weighed in on the company. ValuEngine lowered Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Hanover Insurance Group presently has an average rating of “Buy” and an average target price of $131.90.
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.
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