Northern Trust Corp Cuts Position in The Hanover Insurance Group, Inc. $THG

Key Points

• Northern Trust Corp has reduced its stake in The Hanover Insurance Group by 6.9%, now holding 357,295 shares valued at approximately $62.15 million.
• The Hanover Insurance Group reported a quarterly earnings per share (EPS) of $4.35, surpassing analysts' expectations of $3.07, with a revenue of $1.58 billion.
• Wall Street analysts have set a consensus target price for The Hanover Insurance Group at $185.13, and most analysts hold a rating of "Moderate Buy" on the stock.

Northern Trust Corp decreased its holdings in The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 357,295 shares of the insurance provider's stock after selling 26,375 shares during the period. Northern Trust Corp owned about 0.99% of The Hanover Insurance Group worth $62,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. bought a new stake in The Hanover Insurance Group in the first quarter valued at approximately $209,000. Principal Financial Group Inc. grew its position in shares of The Hanover Insurance Group by 0.3% in the first quarter. Principal Financial Group Inc. now owns 82,886 shares of the insurance provider's stock valued at $14,418,000 after purchasing an additional 252 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of The Hanover Insurance Group by 7.3% in the first quarter. Envestnet Asset Management Inc. now owns 112,632 shares of the insurance provider's stock valued at $19,592,000 after purchasing an additional 7,661 shares during the last quarter. Bayforest Capital Ltd grew its position in shares of The Hanover Insurance Group by 881.5% in the first quarter. Bayforest Capital Ltd now owns 3,926 shares of the insurance provider's stock valued at $683,000 after purchasing an additional 3,526 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of The Hanover Insurance Group by 31.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,351 shares of the insurance provider's stock valued at $1,292,000 after purchasing an additional 1,996 shares during the last quarter. Institutional investors own 86.61% of the company's stock.

Analysts Set New Price Targets

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

The Hanover Insurance Group Trading Up 0.0%

NYSE:THG traded up $0.05 during trading hours on Monday, hitting $173.47. 183,120 shares of the company were exchanged, compared to its average volume of 192,409. The company has a fifty day simple moving average of $168.34 and a 200 day simple moving average of $167.21. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 11.42 and a beta of 0.46. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.11. The Hanover Insurance Group, Inc. has a one year low of $139.37 and a one year high of $178.68.

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

The Hanover Insurance Group 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.