Comerica Bank Has $5.87 Million Stake in The Hanover Insurance Group, Inc. (THG)

Comerica Bank lowered its stake in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,564 shares of the insurance provider’s stock after selling 11,055 shares during the period. Comerica Bank owned 0.14% of The Hanover Insurance Group worth $5,870,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in shares of The Hanover Insurance Group during the 3rd quarter worth $56,542,000. State of Tennessee Treasury Department bought a new stake in shares of The Hanover Insurance Group during the 3rd quarter worth $1,939,000. SG Americas Securities LLC lifted its holdings in shares of The Hanover Insurance Group by 42.4% during the 2nd quarter. SG Americas Securities LLC now owns 11,427 shares of the insurance provider’s stock worth $1,013,000 after acquiring an additional 3,400 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in shares of The Hanover Insurance Group by 240.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 44,108 shares of the insurance provider’s stock worth $3,925,000 after acquiring an additional 31,161 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in The Hanover Insurance Group by 63.9% in the second quarter. Ameriprise Financial Inc. now owns 716,724 shares of the insurance provider’s stock worth $63,524,000 after purchasing an additional 279,347 shares during the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

Several analysts have weighed in on THG shares. Zacks Investment Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating and set a $122.00 price target for the company in a research note on Wednesday, November 29th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $91.00 price objective on shares of The Hanover Insurance Group in a research report on Friday, October 6th. Finally, BidaskClub upgraded shares of The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th.

Shares of The Hanover Insurance Group, Inc. (THG) traded down $0.21 on Wednesday, reaching $106.29. 87,885 shares of the company’s stock were exchanged, compared to its average volume of 228,393. The stock has a market capitalization of $4,530.38, a PE ratio of 46.58 and a beta of 1.14. The Hanover Insurance Group, Inc. has a twelve month low of $79.23 and a twelve month high of $108.64. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.26.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, November 1st. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.74. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.29 billion. The Hanover Insurance Group had a net margin of 2.37% and a return on equity of 3.35%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.83 earnings per share. sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 4.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.54 per share. This is an increase from The Hanover Insurance Group’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.16 dividend on an annualized basis and a yield of 2.03%. The Hanover Insurance Group’s dividend payout ratio is 70.92%.

In related news, insider Mark Joseph Welzenbach sold 5,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $103.89, for a total transaction of $519,450.00. Following the completion of the transaction, the insider now directly owns 29,521 shares of the company’s stock, valued at $3,066,936.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Lowell Keim sold 4,966 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $107.80, for a total transaction of $535,334.80. Following the transaction, the insider now owns 4,966 shares of the company’s stock, valued at approximately $535,334.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,689 shares of company stock valued at $1,555,848. 1.08% of the stock is owned by corporate insiders.

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The Hanover Insurance Group Company Profile

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).

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

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