Fifth Third Bancorp Raises Stake in The Hanover Insurance Group, Inc. $THG

Fifth Third Bancorp boosted its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 1,133.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,853 shares of the insurance provider’s stock after buying an additional 18,243 shares during the quarter. Fifth Third Bancorp owned approximately 0.06% of The Hanover Insurance Group worth $3,442,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new position in shares of The Hanover Insurance Group during the 3rd quarter valued at approximately $26,000. McMillan Office Inc. bought a new stake in shares of The Hanover Insurance Group in the 4th quarter worth approximately $31,000. Entrust Financial LLC purchased a new position in The Hanover Insurance Group in the fourth quarter valued at approximately $33,000. Root Financial Partners LLC lifted its stake in The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 97 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in The Hanover Insurance Group by 146.2% during the fourth quarter. IFP Advisors Inc now owns 256 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 22nd. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Oppenheimer lifted their price objective 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $220.00 price objective (up from $211.00) on shares of The Hanover Insurance Group in a research note on Wednesday, July 8th. Finally, BMO Capital Markets downgraded shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $218.29.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $213.42 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The Hanover Insurance Group, Inc. has a fifty-two week low of $163.18 and a fifty-two week high of $225.29. The stock has a market cap of $7.47 billion, a PE ratio of 10.74 and a beta of 0.28. The stock has a fifty day moving average of $201.24 and a 200-day moving average of $184.78.

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

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid 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 payout ratio is currently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has authorized a share repurchase program 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 programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at The Hanover Insurance Group

In other news, 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 owned 9,359 shares of the company’s stock, valued at approximately $1,764,171.50. This represents a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the executive vice president owned 3,883 shares in the company, valued at $744,487.59. This trade represents a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,508 shares of company stock valued at $5,704,651 in the last quarter. 2.80% of the stock is currently owned by company insiders.

The Hanover Insurance Group Company 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.