LSV Asset Management Boosts Holdings in The Hanover Insurance Group, Inc. $THG

LSV Asset Management raised its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 1,586.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,300 shares of the insurance provider’s stock after purchasing an additional 23,800 shares during the period. LSV Asset Management owned 0.07% of The Hanover Insurance Group worth $4,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in The Hanover Insurance Group during the third quarter valued at $26,000. Community Bank N.A. purchased a new position in The Hanover Insurance Group during the third quarter valued at $27,000. Entrust Financial LLC purchased a new position in The Hanover Insurance Group during the fourth quarter valued at $33,000. Clearstead Advisors LLC lifted its holdings in The Hanover Insurance Group by 300.0% during the third quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 150 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in The Hanover Insurance Group during the third quarter valued at $43,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Denise Lowsley sold 4,175 shares of the stock in a transaction dated Thursday, May 14th. The shares were 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 directly owned 3,883 shares in the company, valued at $744,487.59. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John C. Roche sold 8,358 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the sale, the chief executive officer owned 141,011 shares of the company’s stock, valued at approximately $27,319,471.14. The trade was a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 30,708 shares of company stock valued at $5,921,743. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on THG shares. Royal Bank Of Canada increased their price objective on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $207.00.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $195.97 on Wednesday. The firm has a 50-day simple moving average of $181.19 and a 200-day simple moving average of $179.18. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 9.86 and a beta of 0.31. 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 52 week low of $160.70 and a 52 week high of $199.59.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.87 earnings per share. On average, equities analysts predict that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current fiscal year.

The Hanover Insurance Group announced that its board has initiated a stock buyback program on Wednesday, May 13th that permits the company to buyback $700.00 million in shares. This buyback authorization permits the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.