AlphaQuest LLC Acquires 3,027 Shares of The Hanover Insurance Group, Inc. $THG

AlphaQuest LLC raised its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 22.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,323 shares of the insurance provider’s stock after acquiring an additional 3,027 shares during the quarter. AlphaQuest LLC’s holdings in The Hanover Insurance Group were worth $2,983,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in THG. Millennium Management LLC boosted its holdings in shares of The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after buying an additional 33,495 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in The Hanover Insurance Group by 1,568.9% during the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock valued at $131,000 after purchasing an additional 706 shares during the last quarter. Goldman Sachs Group Inc. increased its position in The Hanover Insurance Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after buying an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in The Hanover Insurance Group by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after buying an additional 7,712 shares during the period. Finally, Invesco Ltd. increased its position in The Hanover Insurance Group by 7.7% during the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock worth $48,155,000 after buying an additional 20,294 shares during the period. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Price Performance

Shares of NYSE:THG opened at $195.34 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a twelve month low of $160.70 and a twelve month high of $199.59. The stock’s 50 day moving average is $180.74 and its 200-day moving average is $179.04. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 9.83 and a beta of 0.31.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm earned $3.87 earnings per share. The Hanover Insurance Group’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 18.45 EPS for the current fiscal year.

The Hanover Insurance Group declared that its board has authorized a stock buyback program on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at The Hanover Insurance Group

In related news, EVP Denise Lowsley sold 4,175 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total transaction of $800,472.75. Following the completion of the sale, the executive vice president owned 3,883 shares in the company, valued at approximately $744,487.59. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dennis Francis Kerrigan sold 6,262 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total value of $1,208,503.38. Following the sale, the executive vice president owned 11,988 shares of the company’s stock, valued at $2,313,564.12. This trade represents a 34.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,708 shares of company stock valued at $5,726,373 in the last three months. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on THG shares. Oppenheimer raised their price target on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Morgan Stanley set a $195.00 price target on The Hanover Insurance Group in a research note on Friday, May 1st. Citizens Jmp lifted their price target on The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, April 30th. Finally, Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $205.86.

About The Hanover Insurance Group

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.