Principal Financial Group Inc. Grows Holdings in The Hanover Insurance Group, Inc. $THG

Principal Financial Group Inc. increased its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,055 shares of the insurance provider’s stock after purchasing an additional 2,501 shares during the period. Principal Financial Group Inc. owned 0.22% of The Hanover Insurance Group worth $13,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of THG. JPL Wealth Management LLC purchased a new stake in shares of The Hanover Insurance Group in the third quarter valued at about $26,000. McMillan Office Inc. purchased a new position in shares of The Hanover Insurance Group during the fourth quarter worth about $31,000. Entrust Financial LLC purchased a new position in shares of The Hanover Insurance Group during the fourth quarter worth about $33,000. Root Financial Partners LLC increased its position in The Hanover Insurance Group by 69.3% in the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 97 shares during the period. Finally, IFP Advisors Inc raised its stake in The Hanover Insurance Group by 146.2% during the 4th quarter. IFP Advisors Inc now owns 256 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 152 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Stock Performance

Shares of THG stock opened at $214.10 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $7.49 billion, a P/E ratio of 10.78 and a beta of 0.28. The Hanover Insurance Group, Inc. has a 12 month low of $163.18 and a 12 month high of $225.29. The company’s fifty day moving average price is $203.16 and its two-hundred day moving average price is $185.68.

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 the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted $3.87 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that The Hanover Insurance Group, Inc. will post 18.38 earnings per share for the current fiscal year.

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

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a $0.95 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.8%. The Hanover Insurance Group’s dividend payout ratio is 19.12%.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Francisco Aristeguieta sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the sale, the director owned 4,053 shares in the company, valued at approximately $791,834.61. The trade was a 19.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Denise Lowsley sold 4,175 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $191.73, for a total transaction of $800,472.75. Following the sale, the executive vice president directly owned 3,883 shares of the company’s stock, valued at $744,487.59. This represents a 51.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,508 shares of company stock worth $5,704,651 in the last three months. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

THG has been the subject of a number of recent research reports. Piper Sandler cut The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research report on Wednesday, July 15th. Royal Bank Of Canada lifted their target price on shares of The Hanover Insurance Group from $195.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $220.00 price target (up from $211.00) on shares of The Hanover Insurance Group in a report on Wednesday, July 8th. BMO Capital Markets lowered shares of 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 research report on Tuesday, May 19th. Finally, Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.29.

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.