State Board of Administration of Florida Retirement System Sells 1,079 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

State Board of Administration of Florida Retirement System trimmed its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,276 shares of the insurance provider’s stock after selling 1,079 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.12% of The Hanover Insurance Group worth $5,350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp grew its position in The Hanover Insurance Group by 131.1% during the second quarter. Van ECK Associates Corp now owns 446 shares of the insurance provider’s stock valued at $60,000 after buying an additional 253 shares during the period. Berman Capital Advisors LLC grew its position in The Hanover Insurance Group by 37.9% during the third quarter. Berman Capital Advisors LLC now owns 480 shares of the insurance provider’s stock valued at $61,000 after buying an additional 132 shares during the period. Advisory Services Network LLC bought a new stake in The Hanover Insurance Group during the second quarter valued at approximately $102,000. Private Capital Group LLC grew its position in The Hanover Insurance Group by 22.6% during the third quarter. Private Capital Group LLC now owns 961 shares of the insurance provider’s stock valued at $125,000 after buying an additional 177 shares during the period. Finally, Jump Financial LLC bought a new stake in The Hanover Insurance Group during the second quarter valued at approximately $200,000. Institutional investors own 83.69% of the company’s stock.

Separately, Zacks Investment Research lowered shares of The Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, The Hanover Insurance Group currently has an average rating of “Hold” and a consensus price target of $146.00.

THG opened at $139.08 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50 day simple moving average of $129.78 and a two-hundred day simple moving average of $133.15. The Hanover Insurance Group, Inc. has a 1-year low of $111.09 and a 1-year high of $143.20. The firm has a market cap of $4.95 billion, a P/E ratio of 12.20, a PEG ratio of 1.71 and a beta of 0.94.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, October 27th. The insurance provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.24. The Hanover Insurance Group had a net margin of 8.15% and a return on equity of 9.86%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The Hanover Insurance Group’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that The Hanover Insurance Group, Inc. will post 7.86 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 30th. Investors of record on Thursday, December 16th were given a dividend of $0.75 per share. This is a positive change from The Hanover Insurance Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, December 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.16%. The Hanover Insurance Group’s dividend payout ratio is currently 26.32%.

In related news, EVP Jeffrey M. Farber bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 30th. The stock was purchased at an average price of $123.60 per share, for a total transaction of $618,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.56% of the stock is currently owned by corporate insiders.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Commercial Lines, Personal Lines and Other. The Commercial Lines segment includes commercial multiple peril, commercial automobile, workers compensation and other commercial coverage, such as specialty program business, inland marine, management and professional liability and surety.

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

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