Cigna Investments Inc. New cut its position in The Hanover Insurance Group, Inc. (NYSE:THG) by 13.5% during the second quarter, Holdings Channel reports. The institutional investor owned 14,587 shares of the insurance provider’s stock after selling 2,279 shares during the period. Cigna Investments Inc. New’s holdings in The Hanover Insurance Group were worth $1,293,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Timber Hill LLC bought a new stake in shares of The Hanover Insurance Group during the first quarter worth $212,000. Trust Co. of Toledo NA OH raised its stake in shares of The Hanover Insurance Group by 6.5% in the first quarter. Trust Co. of Toledo NA OH now owns 2,466 shares of the insurance provider’s stock worth $222,000 after buying an additional 150 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of The Hanover Insurance Group by 3.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,557 shares of the insurance provider’s stock worth $231,000 after buying an additional 89 shares in the last quarter. World Asset Management Inc raised its stake in shares of The Hanover Insurance Group by 0.8% in the first quarter. World Asset Management Inc now owns 2,616 shares of the insurance provider’s stock worth $236,000 after buying an additional 22 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of The Hanover Insurance Group by 17.1% in the second quarter. LS Investment Advisors LLC now owns 3,348 shares of the insurance provider’s stock worth $297,000 after buying an additional 488 shares in the last quarter. 84.14% of the stock is owned by institutional investors.

Shares of The Hanover Insurance Group, Inc. (NYSE THG) opened at 98.86 on Thursday. The stock’s 50 day moving average is $91.36 and its 200-day moving average is $88.30. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 21.23 and a beta of 1.14. The Hanover Insurance Group, Inc. has a 12-month low of $74.06 and a 12-month high of $98.93.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.14. The Hanover Insurance Group had a net margin of 3.95% and a return on equity of 5.83%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm earned $0.05 EPS. The Hanover Insurance Group’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts anticipate that The Hanover Insurance Group, Inc. will post $6.16 EPS for the current fiscal year.

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A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods set a $91.00 price target on shares of The Hanover Insurance Group and gave the stock a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of The Hanover Insurance Group from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub upgraded shares of The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $93.00.

In related news, insider J Kendall Huber sold 20,960 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $97.33, for a total transaction of $2,040,036.80. Following the transaction, the insider now owns 34,079 shares of the company’s stock, valued at approximately $3,316,909.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John C. Roche sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $96.00, for a total transaction of $1,680,000.00. Following the sale, the insider now owns 42,524 shares in the company, valued at $4,082,304. The disclosure for this sale can be found here. 1.08% of the stock is owned by company insiders.

About The Hanover Insurance Group

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

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