The Hanover Insurance Group, Inc. $THG Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. reduced its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 27.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,600 shares of the insurance provider’s stock after selling 3,300 shares during the quarter. Sit Investment Associates Inc.’s holdings in The Hanover Insurance Group were worth $1,572,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Crossmark Global Holdings Inc. raised its stake in shares of The Hanover Insurance Group by 3.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 64 shares during the period. Ballentine Partners LLC grew its holdings in The Hanover Insurance Group by 3.4% during the 4th quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock valued at $370,000 after purchasing an additional 66 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in The Hanover Insurance Group by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock valued at $2,183,000 after purchasing an additional 66 shares in the last quarter. NorthCrest Asset Manangement LLC increased its stake in The Hanover Insurance Group by 5.5% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 1,294 shares of the insurance provider’s stock worth $234,000 after buying an additional 68 shares during the period. Finally, Fifth Third Bancorp increased its stake in The Hanover Insurance Group by 4.7% during the 4th quarter. Fifth Third Bancorp now owns 1,610 shares of the insurance provider’s stock worth $294,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Insider Activity at The Hanover Insurance Group

In other news, EVP Dennis Francis Kerrigan sold 6,262 shares of The Hanover Insurance Group stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 11,988 shares in the company, valued at approximately $2,313,564.12. This trade represents a 34.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Denise Lowsley sold 4,175 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $191.73, for a total value of $800,472.75. Following the completion of the sale, the executive vice president owned 3,883 shares of the company’s stock, valued at $744,487.59. This trade represents a 51.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,508 shares of company stock worth $5,704,651 over the last quarter. 2.80% of the stock is owned by corporate insiders.

The Hanover Insurance Group Price Performance

THG opened at $198.18 on Friday. The company has a 50-day moving average of $188.43 and a 200-day moving average of $180.59. The company has a market capitalization of $6.93 billion, a P/E ratio of 9.97 and a beta of 0.30. The Hanover Insurance Group, Inc. has a 1-year low of $160.70 and a 1-year high of $201.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.14 by $1.11. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.87 earnings per share. Equities analysts expect that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current fiscal year.

The Hanover Insurance Group declared that its board has initiated a share 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 repurchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.95 per share. The ex-dividend date is Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.9%. The Hanover Insurance Group’s dividend payout ratio is presently 19.12%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on THG. BMO Capital Markets cut shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $194.00 to $203.00 in a research report on Tuesday, May 19th. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Royal Bank Of Canada boosted their price target on The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Citizens Jmp raised their price objective 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, Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.00.

The Hanover Insurance Group Profile

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.