Ameriprise Financial Inc. Sells 116,968 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• Ameriprise Financial Inc. has reduced its stake in The Hanover Insurance Group by 17.6%, holding $94.95 million worth, after selling 116,968 shares in the first quarter.
• The Hanover Insurance Group reported $4.35 earnings per share for the last quarter, surpassing analysts' estimates by $1.28.
• Analysts maintain a Moderate Buy average rating for the stock, with a consensus price target of $185.13.

Ameriprise Financial Inc. trimmed its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 17.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,817 shares of the insurance provider's stock after selling 116,968 shares during the period. Ameriprise Financial Inc. owned about 1.52% of The Hanover Insurance Group worth $94,945,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in THG. Mariner LLC raised its stake in shares of The Hanover Insurance Group by 7.2% during the 4th quarter. Mariner LLC now owns 5,201 shares of the insurance provider's stock worth $804,000 after purchasing an additional 349 shares during the period. MML Investors Services LLC raised its stake in The Hanover Insurance Group by 10.7% in the 4th quarter. MML Investors Services LLC now owns 17,471 shares of the insurance provider's stock valued at $2,702,000 after acquiring an additional 1,692 shares during the period. Tower Research Capital LLC TRC raised its stake in The Hanover Insurance Group by 96.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,450 shares of the insurance provider's stock valued at $379,000 after acquiring an additional 1,200 shares during the period. Hsbc Holdings PLC raised its stake in The Hanover Insurance Group by 803.4% in the 4th quarter. Hsbc Holdings PLC now owns 13,542 shares of the insurance provider's stock valued at $2,091,000 after acquiring an additional 12,043 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in The Hanover Insurance Group in the 4th quarter valued at about $3,172,000. 86.61% of the stock is currently owned by institutional investors.

The Hanover Insurance Group Price Performance

THG traded down $1.25 during midday trading on Thursday, hitting $173.40. The stock had a trading volume of 130,252 shares, compared to its average volume of 235,136. The company has a market cap of $6.20 billion, a P/E ratio of 11.42 and a beta of 0.45. The business has a fifty day moving average of $168.23 and a 200 day moving average of $167.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37. The Hanover Insurance Group, Inc. has a 1 year low of $139.37 and a 1 year high of $178.68.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $1.28. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The Hanover Insurance Group's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 earnings per share. As a group, equities analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.90 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.60 annualized dividend and a yield of 2.1%. The Hanover Insurance Group's payout ratio is presently 23.70%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on THG shares. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, July 31st. JMP Securities set a $205.00 price objective on The Hanover Insurance Group in a research note on Thursday, July 31st. Wall Street Zen raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. Morgan Stanley lifted their target price on The Hanover Insurance Group from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price for the company in a report on Wednesday, July 9th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $185.13.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.