Ameriprise Financial Inc. Grows Stake in The Hanover Insurance Group, Inc. (THG)

Ameriprise Financial Inc. lifted its position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 63.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 716,724 shares of the insurance provider’s stock after buying an additional 279,347 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.69% of The Hanover Insurance Group worth $63,524,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The Hanover Insurance Group by 8.2% during 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. raised its stake in shares of The Hanover Insurance Group by 3.6% during 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 raised its stake in shares of The Hanover Insurance Group by 5.5% during 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. World Asset Management Inc raised its stake in shares of The Hanover Insurance Group by 0.8% during the 1st quarter. World Asset Management Inc now owns 2,616 shares of the insurance provider’s stock worth $236,000 after buying an additional 22 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new position in shares of The Hanover Insurance Group during the 2nd quarter worth $236,000. 84.16% of the stock is owned by institutional investors and hedge funds.

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Several research firms have recently issued reports on THG. BidaskClub raised The Hanover Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $91.00 price objective on shares of The Hanover Insurance Group in a research report on Thursday, September 7th. Finally, Zacks Investment Research upgraded The Hanover Insurance Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $97.33.

In related news, insider Christine Bilotti-Peterson sold 2,570 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $98.58, for a total transaction of $253,350.60. Following the transaction, the insider now directly owns 1,760 shares of the company’s stock, valued at $173,500.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider J Kendall Huber sold 20,960 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $97.33, for a total value of $2,040,036.80. Following the transaction, the insider now directly owns 34,079 shares in the company, valued at $3,316,909.07. The disclosure for this sale can be found here. Insiders have sold 50,630 shares of company stock worth $4,913,611 over the last three months. 1.08% of the stock is owned by insiders.

Shares of The Hanover Insurance Group, Inc. (NYSE:THG) opened at 96.60 on Wednesday. The stock has a market cap of $4.09 billion, a PE ratio of 20.90 and a beta of 1.14. The Hanover Insurance Group, Inc. has a 52-week low of $74.06 and a 52-week high of $100.33. The company’s 50-day moving average price is $96.95 and its 200-day moving average price is $90.09.

The Hanover Insurance Group (NYSE:THG) last announced its 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 return on equity of 5.83% and a net margin of 3.95%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the business posted $0.05 earnings per share. The Hanover Insurance Group’s revenue was up 3.6% compared to the same quarter last year. Analysts expect that The Hanover Insurance Group, Inc. will post $6.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, September 14th. The Hanover Insurance Group’s payout ratio is 43.29%.

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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