Cubist Systematic Strategies LLC Acquires Shares of 18,023 Hanover Insurance Group Inc (THG)

Cubist Systematic Strategies LLC acquired a new stake in Hanover Insurance Group Inc (NYSE:THG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,023 shares of the insurance provider’s stock, valued at approximately $1,747,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of Hanover Insurance Group by 9.0% in the third quarter. Janus Henderson Group PLC now owns 773,695 shares of the insurance provider’s stock valued at $74,994,000 after buying an additional 63,578 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Hanover Insurance Group in the third quarter valued at $265,000. Vident Investment Advisory LLC grew its stake in shares of Hanover Insurance Group by 2.5% in the third quarter. Vident Investment Advisory LLC now owns 28,541 shares of the insurance provider’s stock valued at $2,766,000 after buying an additional 694 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Hanover Insurance Group in the third quarter valued at $1,199,000. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Hanover Insurance Group in the third quarter valued at $995,000. 83.85% of the stock is owned by institutional investors and hedge funds.

In related news, insider Mark Joseph Welzenbach sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $103.89, for a total transaction of $519,450.00. Following the completion of the transaction, the insider now directly owns 29,521 shares of the company’s stock, valued at approximately $3,066,936.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Lowell Keim sold 4,966 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $107.80, for a total value of $535,334.80. Following the transaction, the insider now directly owns 4,966 shares of the company’s stock, valued at $535,334.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,689 shares of company stock valued at $1,555,848 over the last three months. 1.08% of the stock is currently owned by insiders.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Hanover Insurance Group from a “hold” rating to a “strong-buy” rating and set a $122.00 price objective for the company in a research note on Wednesday, November 29th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $91.00 price objective on shares of Hanover Insurance Group in a research note on Friday, October 6th.

Shares of Hanover Insurance Group Inc (THG) traded up $0.90 during midday trading on Friday, hitting $103.05. The stock had a trading volume of 412,922 shares, compared to its average volume of 194,937. Hanover Insurance Group Inc has a twelve month low of $79.23 and a twelve month high of $108.64. The firm has a market capitalization of $4,338.82, a PE ratio of 44.61 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.45 and a quick ratio of 0.45.

Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, November 1st. The insurance provider reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.74. Hanover Insurance Group had a return on equity of 3.35% and a net margin of 2.37%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the firm posted $1.83 EPS. Hanover Insurance Group’s revenue for the quarter was up 5.7% on a year-over-year basis. analysts expect that Hanover Insurance Group Inc will post 4.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.10%. This is a boost from Hanover Insurance Group’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, December 14th. Hanover Insurance Group’s payout ratio is presently 76.60%.

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

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