United Services Automobile Association lessened its stake in Hanover Insurance Group Inc (NYSE:THG) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,312 shares of the insurance provider’s stock after selling 1,040 shares during the period. United Services Automobile Association’s holdings in Hanover Insurance Group were worth $971,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of THG. Marshall Wace LLP bought a new position in Hanover Insurance Group in the 3rd quarter worth approximately $29,757,000. Vanguard Group Inc raised its position in Hanover Insurance Group by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 4,206,022 shares of the insurance provider’s stock worth $518,897,000 after purchasing an additional 71,869 shares during the last quarter. Vanguard Group Inc. raised its position in Hanover Insurance Group by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,206,022 shares of the insurance provider’s stock worth $518,897,000 after purchasing an additional 71,869 shares during the last quarter. Victory Capital Management Inc. raised its position in Hanover Insurance Group by 5.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,267,616 shares of the insurance provider’s stock worth $148,019,000 after purchasing an additional 66,512 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Hanover Insurance Group by 130.7% during the 3rd quarter. Hsbc Holdings PLC now owns 112,041 shares of the insurance provider’s stock valued at $13,823,000 after acquiring an additional 63,480 shares during the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.
Shares of Hanover Insurance Group stock traded up $0.61 on Friday, hitting $117.03. 247,760 shares of the company’s stock traded hands, compared to its average volume of 223,964. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 17.24 and a beta of 0.70. Hanover Insurance Group Inc has a one year low of $104.59 and a one year high of $131.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.51 and a current ratio of 0.51.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Thursday, March 14th. Hanover Insurance Group’s dividend payout ratio is currently 35.35%.
In related news, insider Mark Joseph Welzenbach sold 7,402 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $113.05, for a total value of $836,796.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bryan J. Salvatore sold 867 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $116.20, for a total transaction of $100,745.40. Following the completion of the sale, the insider now owns 8,312 shares of the company’s stock, valued at approximately $965,854.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,560 shares of company stock valued at $2,016,383. 1.65% of the stock is owned by corporate insiders.
Several brokerages have commented on THG. ValuEngine upgraded shares of Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Monday, December 31st. Compass Point began coverage on shares of Hanover Insurance Group in a research report on Friday, March 1st. They set a “buy” rating and a $118.71 target price for the company. Finally, Zacks Investment Research cut shares of Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Hanover Insurance Group has an average rating of “Buy” and an average target price of $130.57.
Hanover Insurance Group Profile
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.
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