Citigroup Inc. Grows Stock Holdings in The Hanover Insurance Group, Inc. $THG

Citigroup Inc. boosted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 37.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,056 shares of the insurance provider’s stock after purchasing an additional 3,859 shares during the period. Citigroup Inc.’s holdings in The Hanover Insurance Group were worth $2,553,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in THG. Norges Bank bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at about $77,169,000. Alliancebernstein L.P. lifted its stake in shares of The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock worth $217,505,000 after purchasing an additional 339,896 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of The Hanover Insurance Group by 52.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 558,000 shares of the insurance provider’s stock worth $94,787,000 after buying an additional 193,000 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of The Hanover Insurance Group by 21.0% in the second quarter. AQR Capital Management LLC now owns 553,815 shares of the insurance provider’s stock worth $93,190,000 after buying an additional 96,006 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in The Hanover Insurance Group during the second quarter valued at approximately $16,217,000. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Down 0.3%

Shares of THG opened at $177.94 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.44 and a quick ratio of 0.44. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 9.79 and a beta of 0.31. The Hanover Insurance Group, Inc. has a 1 year low of $147.76 and a 1 year high of $188.18. The business’s 50 day simple moving average is $175.12 and its 200-day simple moving average is $177.41.

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

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.95 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.1%. The Hanover Insurance Group’s dividend payout ratio is presently 20.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on The Hanover Insurance Group from $207.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Royal Bank Of Canada started coverage on The Hanover Insurance Group in a research note on Monday, November 24th. They issued a “sector perform” rating and a $200.00 price objective on the stock. Wall Street Zen downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of The Hanover Insurance Group in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $200.60.

Insider Transactions at The Hanover Insurance Group

In related news, EVP Richard W. Lavey sold 24,420 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $178.92, for a total value of $4,369,226.40. Following the completion of the sale, 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. Also, Director Jane D. Carlin sold 1,200 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $180.91, for a total transaction of $217,092.00. Following the completion of the sale, the director directly owned 2,423 shares of the company’s stock, valued at approximately $438,344.93. This trade represents a 33.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.50% of the company’s stock.

The Hanover Insurance Group Profile

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.