Vestcor Inc Sells 6,253 Shares of The Hanover Insurance Group, Inc. $THG

Vestcor Inc trimmed its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 45.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,530 shares of the insurance provider’s stock after selling 6,253 shares during the quarter. Vestcor Inc’s holdings in The Hanover Insurance Group were worth $1,376,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new stake in shares of The Hanover Insurance Group during the 3rd quarter valued at about $26,000. Community Bank N.A. purchased a new position in shares of The Hanover Insurance Group during the third quarter valued at approximately $27,000. Entrust Financial LLC purchased a new position in shares of The Hanover Insurance Group during the fourth quarter valued at approximately $33,000. Clearstead Advisors LLC lifted its position 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 during the period. Finally, Abich Financial Wealth Management LLC bought a new position in The Hanover Insurance Group during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Insider Activity

In related news, Director Francisco Aristeguieta sold 1,000 shares of The Hanover Insurance Group stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $195.37, for a total value of $195,370.00. Following the completion of the sale, the director directly owned 4,053 shares in the company, valued at $791,834.61. The trade was a 19.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Dennis Francis Kerrigan sold 6,262 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total transaction of $1,208,503.38. Following the completion of the sale, the executive vice president directly owned 11,988 shares of the company’s stock, valued at approximately $2,313,564.12. This trade represents a 34.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 29,508 shares of company stock valued at $5,704,651. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citizens Jmp lifted their price objective on The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, April 30th. Royal Bank Of Canada boosted their target price on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Oppenheimer lifted their price target on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Morgan Stanley set a $195.00 target price on The Hanover Insurance Group in a research report on Friday, May 1st. Finally, BMO Capital Markets lowered The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and increased their price target for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $207.00.

The Hanover Insurance Group Stock Performance

Shares of NYSE:THG opened at $193.38 on Monday. The firm has a market cap of $6.77 billion, a PE ratio of 9.73 and a beta of 0.30. The firm’s 50 day simple moving average is $183.87 and its 200-day simple moving average is $179.62. The Hanover Insurance Group, Inc. has a one year low of $160.70 and a one year high of $199.59. 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 (NYSE:THG) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $1.11. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The Hanover Insurance Group’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.87 earnings per share. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will post 18.36 EPS for the current year.

The Hanover Insurance Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.0%. The Hanover Insurance Group’s dividend payout ratio is presently 19.12%.

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.