State Treasurer State of Michigan Reduces Stake in Hanover Insurance Group Inc (THG)

State Treasurer State of Michigan trimmed its stake in shares of Hanover Insurance Group Inc (NYSE:THG) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,450 shares of the insurance provider’s stock after selling 600 shares during the quarter. State Treasurer State of Michigan’s holdings in Hanover Insurance Group were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Goelzer Investment Management Inc. boosted its stake in shares of Hanover Insurance Group by 2.0% during the 1st quarter. Goelzer Investment Management Inc. now owns 23,906 shares of the insurance provider’s stock worth $2,729,000 after acquiring an additional 478 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Hanover Insurance Group by 1.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 59,109 shares of the insurance provider’s stock worth $6,748,000 after acquiring an additional 1,110 shares in the last quarter. Boston Partners boosted its stake in shares of Hanover Insurance Group by 1.5% during the 1st quarter. Boston Partners now owns 273,767 shares of the insurance provider’s stock worth $31,256,000 after acquiring an additional 4,136 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Hanover Insurance Group during the 1st quarter worth $2,973,000. Finally, Grimes & Company Inc. boosted its stake in shares of Hanover Insurance Group by 11.3% during the 1st quarter. Grimes & Company Inc. now owns 61,172 shares of the insurance provider’s stock worth $6,984,000 after acquiring an additional 6,234 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

THG opened at $122.00 on Wednesday. The firm has a market capitalization of $4.94 billion, a PE ratio of 17.97 and a beta of 0.70. Hanover Insurance Group Inc has a 12-month low of $104.59 and a 12-month high of $131.44. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.17. The company had revenue of $1.10 billion during 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 company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 earnings per share. Sell-side analysts anticipate that Hanover Insurance Group Inc will post 8.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be issued a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.97%. Hanover Insurance Group’s payout ratio is currently 35.35%.

In other news, EVP Richard W. Lavey sold 5,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $121.15, for a total value of $605,750.00. Following the completion of the sale, the executive vice president now owns 20,637 shares in the company, valued at $2,500,172.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Warren E. Barnes sold 639 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $118.49, for a total value of $75,715.11. Following the sale, the senior vice president now owns 3,764 shares of the company’s stock, valued at $445,996.36. The disclosure for this sale can be found here. Insiders sold 12,588 shares of company stock valued at $1,520,189 in the last 90 days. Corporate insiders own 1.65% of the company’s stock.

Several equities research analysts have recently weighed in on THG shares. Zacks Investment Research lowered Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. Compass Point started coverage on Hanover Insurance Group in a research note on Friday, March 1st. They set a “buy” rating and a $118.71 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Hanover Insurance Group has a consensus rating of “Buy” and an average target price 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.

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

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