Retirement Systems of Alabama Sells 2,072 Shares of Hanover Insurance Group Inc (THG)

Retirement Systems of Alabama lessened its stake in shares of Hanover Insurance Group Inc (NYSE:THG) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 106,618 shares of the insurance provider’s stock after selling 2,072 shares during the period. Retirement Systems of Alabama’s holdings in Hanover Insurance Group were worth $12,173,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in THG. Lindbrook Capital LLC bought a new stake in Hanover Insurance Group during the fourth quarter valued at about $26,000. Nkcfo LLC bought a new stake in Hanover Insurance Group during the fourth quarter valued at about $27,000. Riverview Trust Co bought a new position in shares of Hanover Insurance Group in the fourth quarter worth about $27,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Hanover Insurance Group by 204.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 209 shares during the period. Finally, First Command Bank bought a new position in shares of Hanover Insurance Group in the fourth quarter worth about $40,000. 89.64% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Ann Kirkpatrick Tripp sold 5,646 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $115.81, for a total transaction of $653,863.26. Following the completion of the transaction, the senior vice president now directly owns 18,631 shares of the company’s stock, valued at $2,157,656.11. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark Joseph Welzenbach sold 7,402 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $113.05, for a total value of $836,796.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,560 shares of company stock valued at $2,016,383. Corporate insiders own 1.65% of the company’s stock.

A number of research firms have recently weighed in on THG. ValuEngine raised Hanover Insurance Group from a “hold” rating to a “buy” rating in a research note on Monday, December 31st. Compass Point began coverage on Hanover Insurance Group in a research note on Friday, March 1st. They issued a “buy” rating and a $118.71 price objective for the company. Finally, Zacks Investment Research lowered Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $130.57.

NYSE THG opened at $117.03 on Friday. The stock has a market capitalization of $4.76 billion, a PE ratio of 17.24 and a beta of 0.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.51 and a quick ratio of 0.51. Hanover Insurance Group Inc has a twelve month low of $104.59 and a twelve month high of $131.44.

Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, January 30th. The insurance provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.04. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. Hanover Insurance Group had a return on equity of 11.14% and a net margin of 7.88%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 earnings per share. Equities research analysts predict that Hanover Insurance Group Inc will post 8 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, March 14th. Hanover Insurance Group’s dividend payout ratio (DPR) is 35.35%.

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Hanover Insurance Group Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.

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Institutional Ownership by Quarter for Hanover Insurance Group (NYSE:THG)

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