BlueMountain Capital Management LLC raised its stake in Hanover Insurance Group Inc (NYSE:THG) by 216.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,764 shares of the insurance provider’s stock after buying an additional 5,993 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Hanover Insurance Group were worth $1,048,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Scout Investments Inc. lifted its stake in Hanover Insurance Group by 76.0% in the second quarter. Scout Investments Inc. now owns 307,371 shares of the insurance provider’s stock valued at $36,749,000 after buying an additional 132,742 shares in the last quarter. Chartwell Investment Partners LLC lifted its stake in Hanover Insurance Group by 39.5% in the second quarter. Chartwell Investment Partners LLC now owns 29,865 shares of the insurance provider’s stock valued at $3,571,000 after buying an additional 8,455 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in Hanover Insurance Group in the first quarter valued at approximately $12,490,000. BlackRock Inc. lifted its stake in Hanover Insurance Group by 11.1% in the second quarter. BlackRock Inc. now owns 4,010,860 shares of the insurance provider’s stock valued at $479,538,000 after buying an additional 401,605 shares in the last quarter. Finally, KBC Group NV bought a new position in Hanover Insurance Group in the second quarter valued at approximately $1,074,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of THG stock opened at $119.90 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market capitalization of $5.04 billion, a PE ratio of 25.18 and a beta of 0.93. Hanover Insurance Group Inc has a 12 month low of $94.38 and a 12 month high of $131.44.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $2.20 EPS for the quarter, topping the Zacks’ consensus estimate of $2.09 by $0.11. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Hanover Insurance Group had a net margin of 4.29% and a return on equity of 9.11%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 earnings per share. analysts anticipate that Hanover Insurance Group Inc will post 8.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Thursday, September 13th. Hanover Insurance Group’s dividend payout ratio is presently 45.57%.
A number of research analysts have weighed in on the stock. Sandler O’Neill lowered shares of Hanover Insurance Group from a “buy” rating to a “neutral” rating in a research note on Thursday, August 30th. ValuEngine lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. Keefe, Bruyette & Woods set a $140.00 price objective on shares of Hanover Insurance Group and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Hanover Insurance Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th.
Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.
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