William Blair Investment Management LLC trimmed its holdings in Hanover Insurance Group Inc (NYSE:THG) by 4.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 203,147 shares of the insurance provider’s stock after selling 8,938 shares during the period. William Blair Investment Management LLC owned 0.50% of Hanover Insurance Group worth $23,193,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in THG. Lindbrook Capital LLC purchased a new stake in shares of Hanover Insurance Group in the fourth quarter valued at about $26,000. Riverview Trust Co purchased a new stake in shares of Hanover Insurance Group in the fourth quarter valued at about $27,000. Massmutual Trust Co. FSB ADV raised its holdings 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 valued at $36,000 after buying an additional 209 shares during the last quarter. Resources Investment Advisors Inc. raised its holdings in shares of Hanover Insurance Group by 80.1% in the first quarter. Resources Investment Advisors Inc. now owns 362 shares of the insurance provider’s stock valued at $41,000 after buying an additional 161 shares during the last quarter. Finally, Essex Savings Bank purchased a new stake in shares of Hanover Insurance Group in the fourth quarter valued at about $45,000. 85.15% of the stock is owned by institutional investors and hedge funds.
Shares of Hanover Insurance Group stock opened at $128.30 on Friday. Hanover Insurance Group Inc has a 52-week low of $104.59 and a 52-week high of $131.44. 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 business’s 50-day moving average price is $124.26. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 18.90 and a beta of 0.65.
Hanover Insurance Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, June 27th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 10th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.87%. Hanover Insurance Group’s dividend payout ratio (DPR) is 35.35%.
In other Hanover Insurance Group news, EVP Richard W. Lavey sold 5,000 shares of the company’s stock in a transaction dated 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 $2,500,172.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Kirkpatrick Tripp sold 1,777 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was 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 in the company, valued at $2,222,907.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,241 shares of company stock worth $4,163,512. Company insiders own 1.65% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a report on Tuesday, May 7th. ValuEngine raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Six research analysts have rated the stock with a buy rating, Hanover Insurance Group has an average rating of “Buy” and a consensus target price of $131.93.
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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