Public Employees Retirement Association of Colorado trimmed its holdings in Hanover Insurance Group Inc (NYSE:THG) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 98,609 shares of the insurance provider’s stock after selling 9,546 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Hanover Insurance Group were worth $11,258,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in Hanover Insurance Group by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 175,427 shares of the insurance provider’s stock valued at $21,642,000 after acquiring an additional 1,700 shares during the last quarter. Man Group plc boosted its stake in Hanover Insurance Group by 1.8% in the third quarter. Man Group plc now owns 32,340 shares of the insurance provider’s stock valued at $3,989,000 after acquiring an additional 573 shares during the last quarter. Legal & General Group Plc boosted its stake in Hanover Insurance Group by 1.3% in the third quarter. Legal & General Group Plc now owns 64,769 shares of the insurance provider’s stock valued at $7,991,000 after acquiring an additional 808 shares during the last quarter. Vanguard Group Inc. boosted its stake in Hanover Insurance Group by 1.7% in the third quarter. Vanguard Group Inc. now owns 4,206,022 shares of the insurance provider’s stock valued at $518,897,000 after acquiring an additional 71,869 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Hanover Insurance Group in the third quarter valued at approximately $29,757,000. Institutional investors and hedge funds own 89.76% of the company’s stock.
In other Hanover Insurance Group news, insider Mark Joseph Welzenbach sold 2,216 shares of the stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $115.24, for a total value of $255,371.84. Following the sale, the insider now directly owns 17,559 shares in the company, valued at $2,023,499.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bryan J. Salvatore sold 867 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $116.20, for a total transaction of $100,745.40. Following the sale, the insider now owns 8,312 shares in the company, valued at $965,854.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,158 shares of company stock worth $1,179,587. Company insiders own 1.65% of the company’s stock.
Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, May 1st. The insurance provider reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.17. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. Hanover Insurance Group had a net margin of 7.88% and a return on equity of 11.14%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $1.54 earnings per share. Equities analysts forecast that Hanover Insurance Group Inc will post 8 EPS for the current fiscal year.
Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Hanover Insurance Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. Compass Point assumed coverage on shares of Hanover Insurance Group in a report on Friday, March 1st. They issued a “buy” rating and a $118.71 target price on the stock. Finally, ValuEngine lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $130.57.
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About Hanover Insurance Group
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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