Bank of New York Mellon Corp Has $70.71 Million Position in Hanover Insurance Group Inc (THG)
Bank of New York Mellon Corp cut its holdings in Hanover Insurance Group Inc (NYSE:THG) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 654,276 shares of the insurance provider’s stock after selling 49,835 shares during the period. Bank of New York Mellon Corp’s holdings in Hanover Insurance Group were worth $70,714,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in Hanover Insurance Group in the 4th quarter worth approximately $181,000. Rothschild Investment Corp IL bought a new position in Hanover Insurance Group in the 4th quarter worth approximately $210,000. MAI Capital Management bought a new position in Hanover Insurance Group in the 4th quarter worth approximately $213,000. Charter Trust Co. bought a new position in Hanover Insurance Group in the 4th quarter worth approximately $216,000. Finally, Parametrica Management Ltd purchased a new stake in Hanover Insurance Group in the 3rd quarter worth approximately $235,000. 82.89% of the stock is owned by institutional investors.
In other Hanover Insurance Group news, SVP Warren E. Barnes sold 1,513 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $108.46, for a total value of $164,099.98. Following the sale, the senior vice president now directly owns 6,333 shares in the company, valued at approximately $686,877.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Warren E. Barnes sold 1,547 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $110.60, for a total transaction of $171,098.20. The disclosure for this sale can be found here. Corporate insiders own 1.08% of the company’s stock.
Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.15. Hanover Insurance Group had a net margin of 3.59% and a return on equity of 6.88%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted ($0.46) EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. equities analysts anticipate that Hanover Insurance Group Inc will post 8.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 9th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 8th. Hanover Insurance Group’s dividend payout ratio is presently 49.77%.
Separately, Zacks Investment Research upgraded shares of Hanover Insurance Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th.
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About 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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