Scout Investments Inc. cut its holdings in Hanover Insurance Group Inc (NYSE:THG) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 138,220 shares of the insurance provider’s stock after selling 12,485 shares during the period. Scout Investments Inc. owned about 0.35% of Hanover Insurance Group worth $18,734,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System boosted its holdings in shares of Hanover Insurance Group by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 29,540 shares of the insurance provider’s stock valued at $3,790,000 after buying an additional 405 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Hanover Insurance Group by 17.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 16,076 shares of the insurance provider’s stock valued at $2,063,000 after buying an additional 2,423 shares during the period. Bartlett & Co. LLC boosted its holdings in shares of Hanover Insurance Group by 159.0% in the 2nd quarter. Bartlett & Co. LLC now owns 202 shares of the insurance provider’s stock valued at $26,000 after buying an additional 124 shares during the period. Ellington Management Group LLC boosted its holdings in shares of Hanover Insurance Group by 13.5% in the 2nd quarter. Ellington Management Group LLC now owns 10,100 shares of the insurance provider’s stock valued at $1,296,000 after buying an additional 1,200 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Hanover Insurance Group by 55.2% in the 2nd quarter. Signaturefd LLC now owns 346 shares of the insurance provider’s stock valued at $44,000 after buying an additional 123 shares during the period. 86.70% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE THG traded up $1.00 during midday trading on Wednesday, hitting $133.76. The company’s stock had a trading volume of 10,580 shares, compared to its average volume of 250,396. Hanover Insurance Group Inc has a 1-year low of $104.59 and a 1-year high of $136.46. The firm’s fifty day moving average price is $132.99 and its 200-day moving average price is $126.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $5.34 billion, a P/E ratio of 19.70 and a beta of 0.57.
Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.05. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Hanover Insurance Group had a net margin of 8.97% and a return on equity of 10.44%. Hanover Insurance Group’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 EPS. As a group, research analysts predict that Hanover Insurance Group Inc will post 8.2 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Thursday, September 12th. Hanover Insurance Group’s dividend payout ratio is currently 35.35%.
Hanover Insurance Group announced that its board has approved a stock buyback program on Thursday, June 27th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Several research analysts have recently commented on THG shares. Zacks Investment Research lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. ValuEngine lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.
In related news, insider Ann Kirkpatrick Tripp sold 3,477 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.00, for a total value of $455,487.00. Following the sale, the insider now directly owns 20,107 shares in the company, valued at approximately $2,634,017. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kendall Huber sold 7,510 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $130.43, for a total transaction of $979,529.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,675 shares of company stock valued at $1,524,725. Company insiders own 1.65% of the company’s stock.
About Hanover Insurance Group
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.
See Also: Earnings Per Share (EPS) Explained