Pzena Investment Management LLC boosted its stake in Hanover Insurance Group Inc (NYSE:THG) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 752,763 shares of the insurance provider’s stock after acquiring an additional 6,337 shares during the quarter. Pzena Investment Management LLC’s holdings in Hanover Insurance Group were worth $81,359,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in Hanover Insurance Group in the third quarter valued at approximately $56,542,000. CNA Financial Corp purchased a new stake in Hanover Insurance Group in the third quarter valued at approximately $791,000. State of Tennessee Treasury Department purchased a new stake in Hanover Insurance Group in the third quarter valued at approximately $1,939,000. Magnetar Financial LLC purchased a new stake in Hanover Insurance Group in the third quarter valued at approximately $1,199,000. Finally, California Public Employees Retirement System grew its holdings in Hanover Insurance Group by 6.7% in the third quarter. California Public Employees Retirement System now owns 130,564 shares of the insurance provider’s stock valued at $12,656,000 after purchasing an additional 8,154 shares during the period. Hedge funds and other institutional investors own 82.89% of the company’s stock.
Separately, Zacks Investment Research cut shares of Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th.
Hanover Insurance Group Inc (THG) opened at $109.15 on Thursday. The firm has a market cap of $4,621.88, a P/E ratio of 22.90 and a beta of 1.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.45 and a current ratio of 0.48. Hanover Insurance Group Inc has a 12-month low of $79.23 and a 12-month high of $116.32.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.15. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Hanover Insurance Group had a net margin of 3.59% and a return on equity of 6.88%. Hanover Insurance Group’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.46) earnings per share. equities research analysts predict that Hanover Insurance Group Inc will post 8.55 EPS for the current year.
In other Hanover Insurance Group news, insider Mark Lowell Keim sold 4,966 shares of Hanover Insurance Group stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $107.80, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.08% of the company’s stock.
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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