Fmr LLC Lowers Stake in The Hanover Insurance Group, Inc. (THG)

FMR LLC cut its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 60.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,900 shares of the insurance provider’s stock after selling 67,700 shares during the period. FMR LLC owned about 0.10% of The Hanover Insurance Group worth $3,954,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of THG. Timber Hill LLC bought a new position in shares of The Hanover Insurance Group during the first quarter valued at about $212,000. Trust Co. of Toledo NA OH boosted its stake in shares of The Hanover Insurance Group by 6.5% in the first quarter. Trust Co. of Toledo NA OH now owns 2,466 shares of the insurance provider’s stock valued at $222,000 after buying an additional 150 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of The Hanover Insurance Group by 3.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,557 shares of the insurance provider’s stock valued at $231,000 after buying an additional 89 shares in the last quarter. World Asset Management Inc boosted its stake in shares of The Hanover Insurance Group by 0.8% in the first quarter. World Asset Management Inc now owns 2,616 shares of the insurance provider’s stock valued at $236,000 after buying an additional 22 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of The Hanover Insurance Group during the first quarter valued at $321,000. Institutional investors own 84.14% of the company’s stock.

The Hanover Insurance Group, Inc. (NYSE THG) traded up 0.32% during trading on Friday, reaching $99.17. The company’s stock had a trading volume of 258,426 shares. The stock has a market cap of $4.20 billion, a PE ratio of 21.46 and a beta of 1.14. The Hanover Insurance Group, Inc. has a 12 month low of $74.06 and a 12 month high of $100.33. The company’s 50-day moving average is $91.71 and its 200-day moving average is $88.38.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.30 billion. The Hanover Insurance Group had a return on equity of 5.83% and a net margin of 3.95%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. Equities analysts expect that The Hanover Insurance Group, Inc. will post $6.16 EPS for the current fiscal year.

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Several analysts have weighed in on THG shares. Keefe, Bruyette & Woods reissued a “sell” rating and set a $81.00 price objective on shares of The Hanover Insurance Group in a report on Friday, May 5th. BidaskClub raised The Hanover Insurance Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Zacks Investment Research cut The Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $93.00.

In related news, insider Mark Joseph Welzenbach sold 9,600 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $97.94, for a total transaction of $940,224.00. Following the transaction, the insider now directly owns 34,121 shares in the company, valued at $3,341,810.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John C. Roche sold 17,500 shares of The Hanover Insurance Group stock in a transaction on Friday, August 4th. The shares were sold at an average price of $96.00, for a total value of $1,680,000.00. Following the transaction, the insider now owns 42,524 shares in the company, valued at $4,082,304. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,060 shares of company stock worth $4,660,261. Company insiders own 1.08% of the company’s stock.

About The Hanover Insurance Group

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).

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

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