Koch Industries Inc. purchased a new position in Hanover Insurance Group Inc (NYSE:THG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,659 shares of the insurance provider’s stock, valued at approximately $720,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Invictus RG purchased a new position in Hanover Insurance Group during the 4th quarter valued at about $400,000. ETRADE Capital Management LLC grew its stake in Hanover Insurance Group by 11.5% during the 4th quarter. ETRADE Capital Management LLC now owns 8,708 shares of the insurance provider’s stock valued at $941,000 after acquiring an additional 897 shares in the last quarter. Alliancebernstein L.P. grew its stake in Hanover Insurance Group by 1.0% during the 4th quarter. Alliancebernstein L.P. now owns 366,881 shares of the insurance provider’s stock valued at $39,652,000 after acquiring an additional 3,782 shares in the last quarter. Channing Capital Management LLC purchased a new position in Hanover Insurance Group during the 4th quarter valued at about $5,072,000. Finally, Geode Capital Management LLC grew its stake in Hanover Insurance Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 360,441 shares of the insurance provider’s stock valued at $38,956,000 after acquiring an additional 9,045 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Warren E. Barnes sold 1,513 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $108.46, for a total value of $164,099.98. Following the completion of the sale, the senior vice president now directly owns 6,333 shares in the company, valued at approximately $686,877.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Warren E. Barnes sold 1,547 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $110.60, for a total value of $171,098.20. The disclosure for this sale can be found here. Insiders own 1.08% of the company’s stock.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.15. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Hanover Insurance Group had a return on equity of 6.88% and a net margin of 3.59%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.46) EPS. sell-side analysts forecast that Hanover Insurance Group Inc will post 8.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, March 9th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.16 annualized dividend and a dividend yield of 1.82%. Hanover Insurance Group’s payout ratio is 49.77%.
Separately, Zacks Investment Research raised Hanover Insurance Group from a “hold” rating to a “strong-buy” rating and set a $128.00 target price on the stock in a research note on Saturday, January 20th.
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Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).
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