United Services Automobile Association trimmed its stake in shares of Hanover Insurance Group Inc (NYSE:THG) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,160 shares of the insurance provider’s stock after selling 356 shares during the period. United Services Automobile Association’s holdings in Hanover Insurance Group were worth $790,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Arizona State Retirement System grew its stake in Hanover Insurance Group by 1.4% during the second quarter. Arizona State Retirement System now owns 29,540 shares of the insurance provider’s stock valued at $3,790,000 after acquiring an additional 405 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Hanover Insurance Group by 17.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 16,076 shares of the insurance provider’s stock worth $2,063,000 after buying an additional 2,423 shares in the last quarter. Bartlett & Co. LLC grew its stake in shares of Hanover Insurance Group by 159.0% in the 2nd quarter. Bartlett & Co. LLC now owns 202 shares of the insurance provider’s stock worth $26,000 after buying an additional 124 shares in the last quarter. Ellington Management Group LLC grew its stake in shares of Hanover Insurance Group by 13.5% in the 2nd quarter. Ellington Management Group LLC now owns 10,100 shares of the insurance provider’s stock worth $1,296,000 after buying an additional 1,200 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Hanover Insurance Group by 55.2% in the 2nd quarter. Signaturefd LLC now owns 346 shares of the insurance provider’s stock worth $44,000 after buying an additional 123 shares in the last quarter. 86.70% of the stock is owned by institutional investors.
A number of brokerages have commented on THG. Zacks Investment Research cut shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. ValuEngine cut shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.
Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.05. Hanover Insurance Group had a net margin of 8.97% and a return on equity of 10.44%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $2.20 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, analysts expect that Hanover Insurance Group Inc will post 8.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.60 dividend. The ex-dividend date was Thursday, September 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.78%. Hanover Insurance Group’s dividend payout ratio (DPR) is presently 35.35%.
Hanover Insurance Group announced that its board has initiated a stock buyback program on Thursday, June 27th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, EVP Bryan J. Salvatore sold 688 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $130.39, for a total value of $89,708.32. Following the completion of the sale, the executive vice president now owns 6,776 shares in the company, valued at approximately $883,522.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ann Kirkpatrick Tripp sold 3,477 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.00, for a total transaction of $455,487.00. Following the completion of the sale, the insider now owns 20,107 shares of the company’s stock, valued at approximately $2,634,017. The disclosure for this sale can be found here. Insiders sold a total of 11,675 shares of company stock valued at $1,524,725 in the last 90 days. Company insiders own 1.65% of the company’s stock.
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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