Todays Report: The First Citizens Bank & Trust Co. Acquires 303 Shares of The Hanover Insurance Group Inc. (THG)

The First Citizens Bank & Trust Co. Acquires 303 Shares of The Hanover Insurance Group Inc. (THG)

First Citizens Bank & Trust Co. boosted its stake in shares of The Hanover Insurance Group Inc. (NYSE:THG) by 6.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,985 shares of the company’s stock after buying an additional 303 shares during the period. First Citizens Bank & Trust Co.’s holdings in The Hanover Insurance Group were worth $422,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in THG. LS Investment Advisors LLC boosted its stake in shares of The Hanover Insurance Group by 72.4% in the second quarter. LS Investment Advisors LLC now owns 2,567 shares of the company’s stock valued at $217,000 after buying an additional 1,078 shares during the last quarter. Miles Capital Inc. boosted its stake in shares of The Hanover Insurance Group by 0.4% in the first quarter. Miles Capital Inc. now owns 3,393 shares of the company’s stock valued at $306,000 after buying an additional 12 shares during the last quarter. BlackRock Japan Co. Ltd purchased a new stake in shares of The Hanover Insurance Group during the first quarter valued at $332,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of The Hanover Insurance Group during the first quarter valued at $334,000. Finally, Lucus Advisors LLC purchased a new stake in shares of The Hanover Insurance Group during the second quarter valued at $351,000. 82.92% of the stock is owned by institutional investors and hedge funds.

Shares of The Hanover Insurance Group Inc. (NYSE:THG) traded up 0.03% on Monday, reaching $78.99. 121,900 shares of the company were exchanged. The Hanover Insurance Group Inc. has a 52 week low of $74.06 and a 52 week high of $91.30. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 14.71 and a beta of 1.01. The company’s 50-day moving average is $76.54 and its 200-day moving average is $82.32.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Thursday, July 28th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.02. The Hanover Insurance Group had a net margin of 4.83% and a return on equity of 9.51%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business earned $1.56 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities analysts expect that The Hanover Insurance Group Inc. will post $5.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, September 14th. The Hanover Insurance Group’s payout ratio is 34.39%.

THG has been the subject of several research analyst reports. Zacks Investment Research raised shares of The Hanover Insurance Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 6th. JMP Securities reaffirmed an “outperform” rating and issued a $95.00 target price on shares of The Hanover Insurance Group in a research report on Monday, September 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $94.00 target price (down from $99.00) on shares of The Hanover Insurance Group in a research report on Wednesday, August 3rd.

In other The Hanover Insurance Group news, insider Christine Bilotti-Peterson sold 3,600 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $82.31, for a total transaction of $296,316.00. Following the transaction, the insider now directly owns 6,390 shares in the company, valued at approximately $525,960.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.49% of the company’s stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company. The Company’s primary business operations are property and casualty insurance products and services. The Company operates through four segments: Commercial Lines, Personal Lines, Chaucer and Other. The Company’s Commercial Lines product suite provides agents and customers with products designed for small, middle and specialized markets.

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