Rhumbline Advisers Has $12.83 Million Holdings in Hanover Insurance Group Inc (THG)

Rhumbline Advisers trimmed its stake in Hanover Insurance Group Inc (NYSE:THG) by 6.0% during the first quarter, HoldingsChannel.com reports. The fund owned 112,404 shares of the insurance provider’s stock after selling 7,169 shares during the quarter. Rhumbline Advisers’ holdings in Hanover Insurance Group were worth $12,833,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hodges Capital Management Inc. bought a new stake in Hanover Insurance Group in the first quarter valued at $9,328,000. Texas Permanent School Fund boosted its stake in Hanover Insurance Group by 3.5% in the fourth quarter. Texas Permanent School Fund now owns 27,702 shares of the insurance provider’s stock worth $3,235,000 after purchasing an additional 938 shares in the last quarter. Raymond James & Associates boosted its stake in Hanover Insurance Group by 10.0% in the fourth quarter. Raymond James & Associates now owns 6,463 shares of the insurance provider’s stock worth $755,000 after purchasing an additional 585 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Hanover Insurance Group by 2.0% in the fourth quarter. Macquarie Group Ltd. now owns 783,801 shares of the insurance provider’s stock worth $91,524,000 after purchasing an additional 15,207 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Hanover Insurance Group by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 630,405 shares of the insurance provider’s stock worth $73,613,000 after purchasing an additional 6,161 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Hanover Insurance Group stock opened at $122.63 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 18.06 and a beta of 0.70. Hanover Insurance Group Inc has a 52 week low of $104.59 and a 52 week high of $131.44.

Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.17. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. Hanover Insurance Group had a return on equity of 11.02% and a net margin of 9.19%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 earnings per share. Research analysts anticipate that Hanover Insurance Group Inc will post 8.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, June 7th. Hanover Insurance Group’s dividend payout ratio is currently 35.35%.

In other news, SVP Warren E. Barnes sold 639 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $118.49, for a total transaction of $75,715.11. Following the transaction, the senior vice president now owns 3,764 shares of the company’s stock, valued at $445,996.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ann Kirkpatrick Tripp sold 3,515 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $121.78, for a total value of $428,056.70. Following the transaction, the insider now directly owns 18,285 shares in the company, valued at approximately $2,226,747.30. The disclosure for this sale can be found here. In the last three months, insiders sold 12,588 shares of company stock worth $1,520,189. Insiders own 1.65% of the company’s stock.

THG has been the topic of a number of recent analyst reports. Compass Point initiated coverage on Hanover Insurance Group in a research note on Friday, March 1st. They issued a “buy” rating and a $118.71 price objective on the stock. Zacks Investment Research lowered Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $131.93.

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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.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Hanover Insurance Group (NYSE:THG)

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