Suntrust Banks Inc. decreased its position in Hanover Insurance Group Inc (NYSE:THG) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,476 shares of the insurance provider’s stock after selling 1,600 shares during the quarter. Suntrust Banks Inc. owned approximately 0.06% of Hanover Insurance Group worth $2,885,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in Hanover Insurance Group in the fourth quarter worth $108,000. Glassman Wealth Services raised its holdings in Hanover Insurance Group by 82.6% in the first quarter. Glassman Wealth Services now owns 1,163 shares of the insurance provider’s stock worth $137,000 after purchasing an additional 526 shares in the last quarter. Adviser Investments LLC bought a new position in Hanover Insurance Group in the first quarter worth $155,000. Campbell & CO Investment Adviser LLC bought a new position in Hanover Insurance Group in the first quarter worth $200,000. Finally, Boston Private Wealth LLC bought a new position in Hanover Insurance Group in the first quarter worth $230,000. Institutional investors and hedge funds own 86.26% of the company’s stock.
In other news, insider Mark Leo Berthiaume sold 1,924 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $117.35, for a total transaction of $225,781.40. Following the completion of the transaction, the insider now directly owns 3,164 shares in the company, valued at $371,295.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Joseph Welzenbach sold 15,233 shares of the firm’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $115.59, for a total value of $1,760,782.47. Following the transaction, the insider now owns 30,213 shares of the company’s stock, valued at $3,492,320.67. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Hanover Insurance Group opened at $119.56 on Friday, according to MarketBeat Ratings. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 25.22 and a beta of 0.98. Hanover Insurance Group Inc has a 12-month low of $87.49 and a 12-month high of $123.43.
Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.14. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. Hanover Insurance Group had a return on equity of 8.33% and a net margin of 3.97%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. equities analysts predict that Hanover Insurance Group Inc will post 8.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 8th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $2.16 annualized dividend and a dividend yield of 1.81%. Hanover Insurance Group’s payout ratio is presently 45.57%.
A number of equities analysts have issued reports on THG shares. ValuEngine upgraded Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Monday, March 19th. Zacks Investment Research downgraded Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Finally, Keefe, Bruyette & Woods upgraded Hanover Insurance Group from a “market perform” rating to an “outperform” rating in a report on Friday, May 4th.
About Hanover Insurance Group
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.
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