GAM Holding AG Lowers Stake in Hanover Insurance Group Inc (THG)

Share on StockTwits

GAM Holding AG reduced its position in shares of Hanover Insurance Group Inc (NYSE:THG) by 12.0% in the second quarter, Holdings Channel reports. The fund owned 8,366 shares of the insurance provider’s stock after selling 1,137 shares during the quarter. GAM Holding AG’s holdings in Hanover Insurance Group were worth $1,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Hanover Insurance Group by 1.3% during the 1st quarter. BlackRock Inc. now owns 3,609,255 shares of the insurance provider’s stock valued at $425,496,000 after acquiring an additional 45,667 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Hanover Insurance Group by 2.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,279,291 shares of the insurance provider’s stock valued at $152,952,000 after acquiring an additional 25,519 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Hanover Insurance Group by 87.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 777,212 shares of the insurance provider’s stock valued at $91,626,000 after acquiring an additional 363,017 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Hanover Insurance Group by 1.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 682,111 shares of the insurance provider’s stock worth $80,414,000 after buying an additional 9,157 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Hanover Insurance Group by 2.0% in the first quarter. Royal Bank of Canada now owns 379,588 shares of the insurance provider’s stock worth $44,750,000 after buying an additional 7,349 shares during the last quarter. Hedge funds and other institutional investors own 84.49% of the company’s stock.

A number of analysts recently issued reports on the company. ValuEngine downgraded Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods set a $140.00 price target on Hanover Insurance Group and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded Hanover Insurance Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. Finally, Sandler O’Neill downgraded Hanover Insurance Group from a “buy” rating to a “neutral” rating in a research report on Thursday.

Shares of THG opened at $121.92 on Friday. The firm has a market capitalization of $5.43 billion, a P/E ratio of 25.72 and a beta of 0.94. Hanover Insurance Group Inc has a 52-week low of $87.91 and a 52-week high of $131.44. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.27.

Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings results on Wednesday, August 1st. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.11. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. Hanover Insurance Group had a return on equity of 9.11% and a net margin of 4.29%. Hanover Insurance Group’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.83 earnings per share. sell-side analysts anticipate that Hanover Insurance Group Inc will post 8.6 earnings per share for the current fiscal year.

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 and internationally. It operates through four segments: Commercial Lines, Personal Lines, Chaucer, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial coverages, such as inland marine, specialty program business, management and professional liability, surety, and specialty property, as well as monoline general liability, umbrella, healthcare, and miscellaneous commercial property insurance products.

Read More: Diversification

Want to see what other hedge funds are holding THG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hanover Insurance Group Inc (NYSE:THG).

Institutional Ownership by Quarter for Hanover Insurance Group (NYSE:THG)

Receive News & Ratings for Hanover Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanover Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply