Raymond James Financial Inc. Lowers Stock Holdings in The Hanover Insurance Group, Inc. $THG

Key Points

• Raymond James Financial Inc. has reduced its stake in The Hanover Insurance Group by 21.9%, now holding 43,510 shares worth approximately $7.57 million.
• The Hanover Insurance Group reported earnings of $4.35 per share, exceeding analysts' expectations of $3.07, indicating strong performance compared to last year's $1.88 EPS.
• Equities analysts have a consensus rating of "Moderate Buy" for The Hanover Insurance Group, with a target price averaging $185.13.

Raymond James Financial Inc. trimmed its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 21.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 43,510 shares of the insurance provider's stock after selling 12,175 shares during the period. Raymond James Financial Inc. owned approximately 0.12% of The Hanover Insurance Group worth $7,568,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. HM Payson & Co. lifted its holdings in shares of The Hanover Insurance Group by 6.7% during the first quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider's stock valued at $185,000 after purchasing an additional 67 shares during the last quarter. Intrust Bank NA lifted its holdings in shares of The Hanover Insurance Group by 1.8% during the first quarter. Intrust Bank NA now owns 4,886 shares of the insurance provider's stock valued at $850,000 after purchasing an additional 85 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of The Hanover Insurance Group by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,632 shares of the insurance provider's stock valued at $1,502,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of The Hanover Insurance Group by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the insurance provider's stock valued at $1,757,000 after purchasing an additional 100 shares during the last quarter. Finally, Buckhead Capital Management LLC lifted its holdings in shares of The Hanover Insurance Group by 0.6% during the first quarter. Buckhead Capital Management LLC now owns 17,440 shares of the insurance provider's stock valued at $3,034,000 after purchasing an additional 100 shares during the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The Hanover Insurance Group Trading Up 0.0%

NYSE:THG opened at $173.47 on Tuesday. 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 12 month low of $139.37 and a 12 month high of $178.68. The company has a market cap of $6.21 billion, a PE ratio of 11.42 and a beta of 0.46. The company has a 50 day simple moving average of $168.40 and a two-hundred day simple moving average of $167.29.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $4.35 EPS for the quarter, topping 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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The firm's revenue was up 3.1% on a year-over-year basis. Research analysts forecast that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of 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. JMP Securities set a $205.00 price target on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Keefe, Bruyette & Woods raised shares of The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 price target for the company in a research report on Wednesday, July 9th. Finally, Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, The Hanover Insurance Group has an average rating of "Moderate Buy" and a consensus target price of $185.13.

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.

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