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Hanover Insurance coverage Group Inc (NYSE:THG) Brief Curiosity Replace – jj
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Hanover Insurance coverage Group Inc (NYSE:THG) Brief Curiosity Replace

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Hanover Insurance Group Inc (NYSE:THG) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 455,400 shares, a growth of 18.1% from the May 30th total of 385,700 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 223,400 shares, the short-interest ratio is currently 2.0 days.

THG has been the subject of a number of research reports. ValuEngine lowered shares of USD Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 14th. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $131.93.

Shares of NYSE:THG opened at $131.15 on Friday. The firm’s fifty day moving average is $126.17. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 17.17 and a beta of 0.65. Hanover Insurance Group has a 12-month low of $104.59 and a 12-month high of $131.44. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.17. Hanover Insurance Group had a net margin of 9.19% and a return on equity of 11.02%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts expect that Hanover Insurance Group will post 8.1 earnings per share for the current year.

Hanover Insurance Group announced that its board has initiated a stock repurchase plan on Thursday, June 27th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, June 7th. Hanover Insurance Group’s payout ratio is presently 35.35%.

In other Hanover Insurance Group news, insider Ann Kirkpatrick Tripp sold 3,515 shares of Hanover Insurance Group stock in a transaction on Monday, May 6th. The shares were sold at an average price of $121.78, for a total transaction of $428,056.70. Following the completion of the sale, the insider now owns 18,285 shares of the company’s stock, valued at approximately $2,226,747.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bryan J. Salvatore sold 688 shares of Hanover Insurance Group stock in a transaction on Friday, June 14th. The shares were sold at an average price of $126.79, for a total transaction of $87,231.52. Following the sale, the insider now directly owns 6,771 shares of the company’s stock, valued at approximately $858,495.09. The disclosure for this sale can be found here. Insiders sold a total of 34,241 shares of company stock valued at $4,163,512 in the last ninety days. Company insiders own 1.65% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. 6 Meridian increased its holdings in shares of Hanover Insurance Group by 2.0% during the 2nd quarter. 6 Meridian now owns 4,392 shares of the insurance provider’s stock worth $563,000 after purchasing an additional 85 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Hanover Insurance Group during the 2nd quarter worth about $295,000. Copper Rock Capital Partners LLC increased its holdings in shares of Hanover Insurance Group by 8.0% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 204,815 shares of the insurance provider’s stock worth $26,278,000 after purchasing an additional 15,114 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Hanover Insurance Group by 4.4% during the 2nd quarter. Retirement Systems of Alabama now owns 111,340 shares of the insurance provider’s stock worth $14,285,000 after purchasing an additional 4,722 shares during the period. Finally, Hancock Whitney Corp increased its holdings in shares of Hanover Insurance Group by 109.1% during the 1st quarter. Hancock Whitney Corp now owns 168,282 shares of the insurance provider’s stock worth $19,213,000 after purchasing an additional 87,819 shares during the period. 85.15% of the stock is owned by institutional investors and hedge funds.

Hanover Insurance Group Company 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.

Further Reading: Beta

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