Scout Investments Inc. Has $18.73 Million Holdings in Hanover Insurance Group Inc (NYSE:THG)
Scout Investments Inc. reduced its stake in shares of Hanover Insurance Group Inc (NYSE:THG) by 8.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 138,220 shares of the insurance provider’s stock after selling 12,485 shares during the quarter. Scout Investments Inc.’s holdings in Hanover Insurance Group were worth $18,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in THG. First Trust Advisors LP raised its stake in Hanover Insurance Group by 950.7% during the 1st quarter. First Trust Advisors LP now owns 279,290 shares of the insurance provider’s stock valued at $31,887,000 after purchasing an additional 252,709 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Hanover Insurance Group by 26.9% in the 1st quarter. Wells Fargo & Company MN now owns 352,860 shares of the insurance provider’s stock valued at $40,286,000 after buying an additional 74,895 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Hanover Insurance Group by 37.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,376 shares of the insurance provider’s stock valued at $157,000 after buying an additional 376 shares in the last quarter. Swiss National Bank raised its stake in shares of Hanover Insurance Group by 2.5% in the 1st quarter. Swiss National Bank now owns 77,100 shares of the insurance provider’s stock valued at $8,803,000 after buying an additional 1,900 shares in the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Hanover Insurance Group in the 1st quarter valued at $228,000. Hedge funds and other institutional investors own 86.70% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. 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 announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company posted $2.20 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Hanover Insurance Group Inc will post 8.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Thursday, September 12th. Hanover Insurance Group’s dividend payout ratio is 35.35%.
Hanover Insurance Group announced that its Board of Directors has initiated a share repurchase program on Thursday, June 27th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Bryan J. Salvatore sold 688 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $130.39, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kendall Huber sold 7,510 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $130.43, for a total transaction of $979,529.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,675 shares of company stock valued at $1,524,725. Corporate 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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