Hanover Insurance Group Inc (NYSE:THG) Shares Bought by Natixis
Natixis grew its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 123.8% in the second quarter, Holdings Channel reports. The institutional investor owned 74,662 shares of the insurance provider’s stock after purchasing an additional 41,300 shares during the period. Natixis’ holdings in Hanover Insurance Group were worth $9,579,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in THG. Steward Partners Investment Advisory LLC purchased a new position in shares of Hanover Insurance Group in the 2nd quarter valued at about $25,000. Bartlett & Co. LLC increased its stake in Hanover Insurance Group by 159.0% in the second quarter. Bartlett & Co. LLC now owns 202 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Financial Advantage Inc. purchased a new position in Hanover Insurance Group in the second quarter valued at approximately $32,000. Signaturefd LLC increased its stake in Hanover Insurance Group by 55.2% in the second quarter. Signaturefd LLC now owns 346 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 123 shares during the last quarter. Finally, Resources Investment Advisors Inc. raised its holdings in Hanover Insurance Group by 80.1% during the first quarter. Resources Investment Advisors Inc. now owns 362 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 161 shares in the last quarter. 86.73% of the stock is owned by institutional investors.
In other Hanover Insurance Group news, insider Bryan J. Salvatore sold 688 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $126.79, for a total transaction of $87,231.52. Following the transaction, the insider now directly owns 6,771 shares of the company’s stock, valued at approximately $858,495.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ann Kirkpatrick Tripp sold 3,477 shares of Hanover Insurance Group stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.00, for a total transaction of $455,487.00. Following the completion of the transaction, the insider now owns 20,107 shares in the company, valued at $2,634,017. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,675 shares of company stock worth $1,522,248. 1.65% of the stock is currently owned by corporate insiders.
Shares of THG stock traded down $1.02 during mid-day trading on Wednesday, hitting $131.59. 4,317 shares of the stock were exchanged, compared to its average volume of 262,085. The stock’s fifty day simple moving average is $131.74 and its two-hundred day simple moving average is $124.08. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 19.37 and a beta of 0.58. Hanover Insurance Group Inc has a 12-month low of $104.59 and a 12-month high of $135.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.
Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.05. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Hanover Insurance Group had a return on equity of 10.44% and a net margin of 8.97%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 EPS. On average, research analysts expect that Hanover Insurance Group Inc will post 8.2 earnings per share for the current fiscal year.
Hanover Insurance Group announced that its Board of Directors has approved a share repurchase plan on Thursday, June 27th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.40 dividend on an annualized basis and a yield of 1.82%. Hanover Insurance Group’s dividend payout ratio is presently 35.35%.
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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