Monarch Partners Asset Management LLC lessened its stake in Hanover Insurance Group Inc (NYSE:THG) by 52.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,008 shares of the insurance provider’s stock after selling 115,866 shares during the period. Hanover Insurance Group accounts for 1.8% of Monarch Partners Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Monarch Partners Asset Management LLC’s holdings in Hanover Insurance Group were worth $11,989,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Lindbrook Capital LLC purchased a new stake in shares of Hanover Insurance Group in the fourth quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in shares of Hanover Insurance Group in the fourth quarter worth approximately $27,000. Nkcfo LLC purchased a new stake in shares of Hanover Insurance Group in the fourth quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Hanover Insurance Group by 204.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 209 shares in the last quarter. Finally, First Command Financial Services Inc. purchased a new stake in shares of Hanover Insurance Group in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.
A number of analysts have recently issued reports on THG shares. Zacks Investment Research raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a research report on Tuesday, May 7th. Compass Point started coverage on shares of Hanover Insurance Group in a research report on Friday, March 1st. They issued a “buy” rating and a $118.71 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Hanover Insurance Group has an average rating of “Buy” and a consensus price target of $131.93.
Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.17. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. Hanover Insurance Group had a net margin of 9.19% and a return on equity of 11.02%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. On average, analysts predict that Hanover Insurance Group Inc will post 8.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, June 7th. Hanover Insurance Group’s payout ratio is presently 35.35%.
In related news, EVP Ann Kirkpatrick Tripp sold 1,777 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $121.57, for a total transaction of $216,029.89. Following the transaction, the executive vice president now owns 18,285 shares of the company’s stock, valued at $2,222,907.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Richard W. Lavey sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $121.15, for a total transaction of $605,750.00. Following the transaction, the executive vice president now directly owns 20,637 shares in the company, valued at approximately $2,500,172.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,588 shares of company stock worth $1,520,189. Insiders own 1.65% of the company’s stock.
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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