Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Hanover Insurance Group Inc (NYSE:THG) by 103.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,872 shares of the insurance provider’s stock after purchasing an additional 951 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Hanover Insurance Group were worth $240,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Hanover Insurance Group during the second quarter worth $25,000. Bartlett & Co. LLC increased its holdings in shares of Hanover Insurance Group by 159.0% in the 2nd quarter. Bartlett & Co. LLC now owns 202 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 124 shares during the period. Financial Advantage Inc. acquired a new stake in shares of Hanover Insurance Group in the 2nd quarter worth about $32,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Hanover Insurance Group in the 2nd quarter worth about $39,000. Finally, Signaturefd LLC increased its holdings in shares of Hanover Insurance Group by 55.2% in the 2nd quarter. Signaturefd LLC now owns 346 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 123 shares during the period. 86.69% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on THG. Zacks Investment Research raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $151.00 price objective on the stock in a report on Wednesday. ValuEngine cut shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.
Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.05. Hanover Insurance Group had a net margin of 8.97% and a return on equity of 10.44%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company earned $2.20 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts forecast that Hanover Insurance Group Inc will post 8.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.76%. Hanover Insurance Group’s dividend payout ratio (DPR) is presently 35.35%.
Hanover Insurance Group declared that its Board of Directors has initiated a share buyback plan on Thursday, June 27th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP J Kendall Huber sold 7,510 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $130.43, for a total value of $979,529.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ann Kirkpatrick Tripp sold 3,477 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.00, for a total transaction of $455,487.00. Following the completion of the transaction, the insider now owns 20,107 shares of the company’s stock, valued at approximately $2,634,017. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,675 shares of company stock worth $1,524,725. Corporate insiders own 1.65% of the company’s stock.
About Hanover Insurance Group
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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