Dimensional Fund Advisors LP Raises Position in The Hanover Insurance Group, Inc. $THG

Dimensional Fund Advisors LP grew its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 16.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 970,177 shares of the insurance provider’s stock after acquiring an additional 136,998 shares during the quarter. Dimensional Fund Advisors LP’s holdings in The Hanover Insurance Group were worth $168,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in THG. Millennium Management LLC grew its stake in shares of The Hanover Insurance Group by 61.0% during the first 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% in the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock worth $131,000 after buying an additional 706 shares during the period. Goldman Sachs Group Inc. lifted its holdings in The Hanover Insurance Group by 21.6% in 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 grew its position in shares of The Hanover Insurance Group by 6.4% in 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 last quarter. Finally, Invesco Ltd. increased its stake in shares of The Hanover Insurance Group by 7.7% during the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after buying an additional 20,294 shares during the period. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Price Performance

NYSE THG opened at $217.64 on Friday. The business’s fifty day moving average price is $203.61 and its 200-day moving average price is $185.91. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 10.95 and a beta of 0.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The Hanover Insurance Group, Inc. has a 1-year low of $163.78 and a 1-year high of $225.29.

The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the firm posted $3.87 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts predict that The Hanover Insurance Group, Inc. will post 18.38 earnings per share for the current year.

The Hanover Insurance Group announced that its Board of Directors has initiated a share buyback program on Wednesday, May 13th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 19.12%.

Insider Activity

In related news, Director Cynthia Egan sold 3,400 shares of The Hanover Insurance Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $188.50, for a total transaction of $640,900.00. Following the transaction, the director directly owned 9,359 shares in the company, valued at approximately $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francisco Aristeguieta sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $195.37, for a total value of $195,370.00. Following the completion of the transaction, the director directly owned 4,053 shares in the company, valued at $791,834.61. This trade represents a 19.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,508 shares of company stock worth $5,704,651. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on THG. Morgan Stanley raised their target price on The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Citizens Jmp increased their price target on shares of The Hanover Insurance Group from $205.00 to $225.00 and gave the company a “market outperform” rating in a report on Friday, July 10th. Oppenheimer upped their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research note on Wednesday, July 15th. Finally, Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.29.

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.