Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Hanover Insurance Group Inc (NYSE:THG) by 63.5% during the first quarter, HoldingsChannel.com reports. The firm owned 2,394 shares of the insurance provider’s stock after selling 4,167 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hanover Insurance Group were worth $273,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Contravisory Investment Management Inc. raised its position in Hanover Insurance Group by 6.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 1,671 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 96 shares during the period. Arizona State Retirement System raised its position in Hanover Insurance Group by 0.6% during the fourth quarter. Arizona State Retirement System now owns 30,384 shares of the insurance provider’s stock valued at $3,548,000 after purchasing an additional 181 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Hanover Insurance Group by 204.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 209 shares during the period. Lindbrook Capital LLC purchased a new stake in Hanover Insurance Group during the fourth quarter valued at approximately $26,000. Finally, Riverview Trust Co purchased a new stake in Hanover Insurance Group during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

THG has been the topic of a number of recent research reports. Zacks Investment Research downgraded Hanover Insurance Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. Compass Point initiated coverage on Hanover Insurance Group in a research report on Friday, March 1st. They set a “buy” rating and a $118.71 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $131.93.

In other news, insider Ann Kirkpatrick Tripp sold 3,515 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $121.78, for a total transaction of $428,056.70. Following the transaction, the insider now owns 18,285 shares of the company’s stock, valued at $2,226,747.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard W. Lavey sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $121.15, for a total value of $605,750.00. Following the transaction, the executive vice president now directly owns 20,637 shares in the company, valued at approximately $2,500,172.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,588 shares of company stock worth $1,520,189. Insiders own 1.65% of the company’s stock.

THG opened at $121.68 on Thursday. The company has a market cap of $4.92 billion, a PE ratio of 17.92 and a beta of 0.70. Hanover Insurance Group Inc has a one year low of $104.59 and a one year high of $131.44. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22.

Hanover Insurance Group (NYSE:THG) last released its earnings results on Wednesday, May 1st. The insurance provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.17. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Hanover Insurance Group had a return on equity of 11.02% and a net margin of 9.19%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. As a group, equities research analysts predict that Hanover Insurance Group Inc will post 8.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.97%. Hanover Insurance Group’s dividend payout ratio is 35.35%.

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About Hanover Insurance Group

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.

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

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