Channing Capital Management LLC Buys 29,106 Shares of The Hanover Insurance Group, Inc. $THG

Channing Capital Management LLC increased its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 73.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,641 shares of the insurance provider’s stock after purchasing an additional 29,106 shares during the period. Channing Capital Management LLC owned approximately 0.19% of The Hanover Insurance Group worth $12,467,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its stake in The Hanover Insurance Group by 56.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 224 shares of the insurance provider’s stock worth $38,000 after buying an additional 81 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of The Hanover Insurance Group during the 3rd quarter worth approximately $43,000. Quent Capital LLC acquired a new stake in shares of The Hanover Insurance Group during the 3rd quarter worth approximately $69,000. Bessemer Group Inc. increased its stake in The Hanover Insurance Group by 87.7% in the third quarter. Bessemer Group Inc. now owns 533 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 249 shares during the last quarter. Finally, Allworth Financial LP raised its position in The Hanover Insurance Group by 22.8% during the second quarter. Allworth Financial LP now owns 705 shares of the insurance provider’s stock valued at $120,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

Insider Activity

In other news, EVP Richard W. Lavey sold 24,420 shares of The Hanover Insurance Group stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $178.92, for a total transaction of $4,369,226.40. Following the transaction, the executive vice president owned 32,174 shares in the company, valued at approximately $5,756,572.08. The trade was a 43.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on THG. Royal Bank Of Canada started coverage on The Hanover Insurance Group in a report on Monday, November 24th. They issued a “sector perform” rating and a $200.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The Hanover Insurance Group in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their target price on The Hanover Insurance Group from $200.00 to $207.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.40.

The Hanover Insurance Group Trading Up 0.5%

Shares of THG stock opened at $175.94 on Friday. The Hanover Insurance Group, Inc. has a twelve month low of $147.76 and a twelve month high of $188.18. The stock’s fifty day simple moving average is $176.56 and its 200 day simple moving average is $176.93. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.26 billion, a P/E ratio of 9.68 and a beta of 0.32.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Friday, February 20th. The insurance provider reported $5.46 EPS for the quarter. The firm had revenue of $1.67 billion for the quarter. The Hanover Insurance Group had a return on equity of 21.00% and a net margin of 10.05%. As a group, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current fiscal year.

The Hanover Insurance Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were given a $0.95 dividend. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, December 12th. This represents a $3.80 annualized dividend and a yield of 2.2%. The Hanover Insurance Group’s dividend payout ratio is currently 20.91%.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.