Comerica Bank Sells 8,994 Shares of The Hanover Insurance Group, Inc. $THG

Key Points

• Comerica Bank sold 8,994 shares of The Hanover Insurance Group, cutting its holdings by 28.8% to 22,227 shares, valued at approximately $3.87 million.
• The Hanover Insurance Group reported earnings of $4.35 per share for the last quarter, exceeding analysts' estimates, with a net margin of 8.67%.
• The company recently announced a quarterly dividend of $0.90 per share, yielding 2.1%, with a dividend payout ratio of 23.70%.

Comerica Bank cut its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG - Free Report) by 28.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,227 shares of the insurance provider's stock after selling 8,994 shares during the period. Comerica Bank owned 0.06% of The Hanover Insurance Group worth $3,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. HM Payson & Co. boosted its stake in The Hanover Insurance Group by 6.7% during the 1st quarter. HM Payson & Co. now owns 1,063 shares of the insurance provider's stock worth $185,000 after acquiring an additional 67 shares during the last quarter. Intrust Bank NA raised its holdings in The Hanover Insurance Group by 1.8% during the 1st quarter. Intrust Bank NA now owns 4,886 shares of the insurance provider's stock worth $850,000 after buying an additional 85 shares during the period. State of Michigan Retirement System grew its stake in shares of The Hanover Insurance Group by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 8,632 shares of the insurance provider's stock worth $1,502,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of The Hanover Insurance Group by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the insurance provider's stock worth $1,757,000 after acquiring an additional 100 shares in the last quarter. Finally, Buckhead Capital Management LLC grew its stake in shares of The Hanover Insurance Group by 0.6% in the first quarter. Buckhead Capital Management LLC now owns 17,440 shares of the insurance provider's stock valued at $3,034,000 after buying an additional 100 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

The Hanover Insurance Group Price Performance

Shares of THG opened at $173.47 on Friday. The Hanover Insurance Group, Inc. has a 52-week low of $139.37 and a 52-week high of $178.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.37 and a current ratio of 0.37. The business's 50 day moving average price is $168.34 and its two-hundred day moving average price is $167.19. The firm has a market cap of $6.21 billion, a PE ratio of 11.42 and a beta of 0.45.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $1.28. The Hanover Insurance Group had a return on equity of 20.24% and a net margin of 8.67%.The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. The company's revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 14.37 EPS for the current year.

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, June 13th. The Hanover Insurance Group's dividend payout ratio is presently 23.70%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Citigroup reaffirmed an "outperform" rating on shares of The Hanover Insurance Group in a report on Thursday, July 31st. JMP Securities set a $205.00 price target on The Hanover Insurance Group in a research note on Thursday, July 31st. Morgan Stanley boosted their price target on The Hanover Insurance Group from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods upgraded The Hanover Insurance Group from a "market perform" rating to an "outperform" rating and set a $188.00 target price on the stock in a research report on Wednesday, July 9th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $185.13.

The 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. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.