Mesirow Financial Investment Management Equity Management cut its holdings in Hanover Insurance Group Inc (NYSE:THG) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,198 shares of the insurance provider’s stock after selling 6,545 shares during the period. Hanover Insurance Group makes up 1.8% of Mesirow Financial Investment Management Equity Management’s investment portfolio, making the stock its 4th biggest holding. Mesirow Financial Investment Management Equity Management owned 0.27% of Hanover Insurance Group worth $13,452,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. M&T Bank Corp bought a new stake in Hanover Insurance Group during the fourth quarter valued at about $243,000. Chartwell Investment Partners LLC boosted its holdings in Hanover Insurance Group by 19.6% during the fourth quarter. Chartwell Investment Partners LLC now owns 36,898 shares of the insurance provider’s stock valued at $4,309,000 after acquiring an additional 6,035 shares during the period. Essex Savings Bank bought a new stake in Hanover Insurance Group during the fourth quarter valued at about $45,000. Dupont Capital Management Corp bought a new stake in Hanover Insurance Group during the fourth quarter valued at about $320,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Hanover Insurance Group by 2.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 57,999 shares of the insurance provider’s stock valued at $6,773,000 after acquiring an additional 1,155 shares during the period. Institutional investors own 88.52% of the company’s stock.
In related news, insider Mark Joseph Welzenbach sold 7,402 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $113.05, for a total value of $836,796.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kendall Huber sold 16,827 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $110.04, for a total transaction of $1,851,643.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,229 shares of company stock valued at $5,330,119. 1.30% of the stock is owned by corporate insiders.
Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, January 30th. The insurance provider reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.04. Hanover Insurance Group had a net margin of 7.88% and a return on equity of 11.14%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company earned $1.20 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Hanover Insurance Group Inc will post 8 earnings per share for the current year.
The business also recently announced a special dividend, which was paid on Friday, January 25th. Investors of record on Thursday, January 10th were paid a $4.75 dividend. This represents a dividend yield of 2.08%. The ex-dividend date was Wednesday, January 9th. Hanover Insurance Group’s payout ratio is presently 35.35%.
THG has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Hanover Insurance Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. ValuEngine cut shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Finally, Buckingham Research initiated coverage on shares of Hanover Insurance Group in a report on Friday, December 14th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Hanover Insurance Group presently has an average rating of “Hold” and a consensus target price of $136.50.
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 and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.
Read More: Book Value Per Share – BVPS
Want to see what other hedge funds are holding THG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanover Insurance Group Inc (NYSE:THG).
Receive News & Ratings for Hanover Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanover Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.