Bank of New York Mellon Corp Has $58.74 Million Stake in The Hanover Insurance Group, Inc. $THG

Bank of New York Mellon Corp grew its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 1.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 338,870 shares of the insurance provider’s stock after buying an additional 5,219 shares during the period. Bank of New York Mellon Corp owned approximately 0.96% of The Hanover Insurance Group worth $58,743,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Illinois Municipal Retirement Fund grew its holdings in shares of The Hanover Insurance Group by 40.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 22,200 shares of the insurance provider’s stock worth $3,848,000 after purchasing an additional 6,359 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of The Hanover Insurance Group by 54.1% during the first quarter. Sanctuary Advisors LLC now owns 2,567 shares of the insurance provider’s stock valued at $445,000 after purchasing an additional 901 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of The Hanover Insurance Group in the first quarter valued at $361,000. State of Michigan Retirement System lifted its position in The Hanover Insurance Group by 1.2% in the first quarter. State of Michigan Retirement System now owns 8,532 shares of the insurance provider’s stock worth $1,479,000 after purchasing an additional 100 shares during the period. Finally, Principal Financial Group Inc. lifted its position in The Hanover Insurance Group by 3.3% in the first quarter. Principal Financial Group Inc. now owns 79,055 shares of the insurance provider’s stock worth $13,704,000 after purchasing an additional 2,501 shares during the period. Institutional investors own 86.61% of the company’s stock.

Insider Activity

In other The Hanover Insurance Group news, EVP Denise Lowsley sold 4,175 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the transaction, the executive vice president directly owned 3,883 shares in the company, valued at approximately $744,487.59. This trade represents a 51.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cynthia Egan sold 3,400 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $188.50, for a total value of $640,900.00. Following the transaction, the director directly owned 9,359 shares in the company, valued at $1,764,171.50. This trade represents a 26.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 29,508 shares of company stock worth $5,704,651. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $220.00 target price (up from $211.00) on shares of The Hanover Insurance Group in a research note on Wednesday, July 8th. Royal Bank Of Canada raised their price target on shares of The Hanover Insurance Group from $195.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Monday, July 13th. Citizens Jmp lifted their price objective on The Hanover Insurance Group from $205.00 to $225.00 and gave the company a “market outperform” rating in a report on Friday, July 10th. Zacks Research lowered The Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Oppenheimer increased their target price on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.29.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $214.10 on Friday. The stock has a 50-day simple moving average of $203.16 and a 200 day simple moving average of $185.68. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a 12-month low of $163.18 and a 12-month high of $225.29. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 10.78 and a beta of 0.28.

The Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company earned $3.87 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 18.38 earnings per share for the current fiscal year.

The Hanover Insurance Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.8%. The Hanover Insurance Group’s dividend payout ratio is currently 19.12%.

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.