Primecap Management Co. CA Invests $37.84 Million in The Hanover Insurance Group, Inc. $THG

Primecap Management Co. CA purchased a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 176,740 shares of the insurance provider’s stock, valued at approximately $37,844,000. Primecap Management Co. CA owned about 0.51% of The Hanover Insurance Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basecamp Wealth Advisors LLC increased its stake in The Hanover Insurance Group by 19.1% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock worth $59,000 after buying an additional 55 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of The Hanover Insurance Group by 5.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock valued at $195,000 after acquiring an additional 59 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of The Hanover Insurance Group by 3.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 64 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of The Hanover Insurance Group by 3.4% in the fourth quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock worth $370,000 after acquiring an additional 66 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of The Hanover Insurance Group by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock worth $2,183,000 after acquiring an additional 66 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Price Performance

NYSE:THG opened at $228.40 on Thursday. The Hanover Insurance Group, Inc. has a one year low of $166.54 and a one year high of $236.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $7.95 billion, a PE ratio of 10.90 and a beta of 0.27. The stock has a 50 day moving average price of $218.72 and a 200 day moving average price of $194.60.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. Equities research analysts expect that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 18.14%.

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

Wall Street Analyst Weigh In

THG has been the subject of several recent research reports. Oppenheimer increased their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets lowered shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $194.00 to $203.00 in a report on Tuesday, May 19th. Royal Bank Of Canada increased their target price on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Finally, Citizens Jmp raised their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and an average target price of $225.71.

Insider Activity

In other The Hanover Insurance Group news, EVP Dennis Francis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the transaction, the executive vice president directly owned 12,003 shares of the company’s stock, valued at $2,669,587.23. The trade was a 14.91% 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 1,000 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the transaction, the director directly owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 9,655 shares of company stock valued at $2,145,846. 2.80% of the stock is owned by company insiders.

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.