Sterling Capital Management LLC Reduces Stake in The Hanover Insurance Group, Inc. (THG)

Sterling Capital Management LLC reduced its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 14.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,900 shares of the insurance provider’s stock after selling 33,023 shares during the period. Sterling Capital Management LLC owned approximately 0.47% of The Hanover Insurance Group worth $17,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of The Hanover Insurance Group by 8.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,576 shares of the insurance provider’s stock worth $140,000 after buying an additional 120 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of The Hanover Insurance Group by 3.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,557 shares of the insurance provider’s stock worth $231,000 after buying an additional 89 shares during the last quarter. Trust Co. of Toledo NA OH boosted its stake in shares of The Hanover Insurance Group by 5.5% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 2,601 shares of the insurance provider’s stock worth $231,000 after buying an additional 135 shares during the last quarter. Raymond James Trust N.A. purchased a new position in shares of The Hanover Insurance Group in the 2nd quarter worth $236,000. Finally, World Asset Management Inc boosted its stake in shares of The Hanover Insurance Group by 3.8% in the 2nd quarter. World Asset Management Inc now owns 2,715 shares of the insurance provider’s stock worth $241,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 84.16% of the company’s stock.

The Hanover Insurance Group, Inc. (NYSE:THG) traded up 0.34% during trading on Friday, reaching $97.20. The company had a trading volume of 32,076 shares. The Hanover Insurance Group, Inc. has a 52 week low of $74.60 and a 52 week high of $100.33. The stock has a 50 day moving average price of $96.77 and a 200 day moving average price of $91.01. The firm has a market capitalization of $4.12 billion, a P/E ratio of 21.03 and a beta of 1.13.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.55 by $0.14. The Hanover Insurance Group had a net margin of 3.95% and a return on equity of 5.83%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $0.05 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Analysts predict that The Hanover Insurance Group, Inc. will post $3.90 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.06%. The ex-dividend date was Thursday, September 14th. The Hanover Insurance Group’s payout ratio is 43.29%.

In other The Hanover Insurance Group news, insider Mark Joseph Welzenbach sold 9,600 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $97.94, for a total value of $940,224.00. Following the sale, the insider now directly owns 34,121 shares of the company’s stock, valued at $3,341,810.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John C. Roche sold 17,500 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $96.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the insider now directly owns 42,524 shares in the company, valued at $4,082,304. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,630 shares of company stock worth $4,913,611. 1.08% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on THG shares. Zacks Investment Research downgraded The Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $91.00 target price on shares of The Hanover Insurance Group in a research report on Thursday, September 7th. Finally, BidaskClub upgraded The Hanover Insurance Group from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The Hanover Insurance Group currently has a consensus rating of “Hold” and an average price target of $97.33.

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The Hanover Insurance Group Company 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 The Hanover Insurance Group (NYSE:THG)

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