Comerica Bank Has $5.48 Million Stake in Hanover Insurance Group Inc (THG)
Comerica Bank lessened its stake in shares of Hanover Insurance Group Inc (NYSE:THG) by 19.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 47,989 shares of the insurance provider’s stock after selling 11,575 shares during the quarter. Comerica Bank’s holdings in Hanover Insurance Group were worth $5,483,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in THG. Shelton Capital Management purchased a new stake in shares of Hanover Insurance Group during the second quarter valued at approximately $284,000. The Manufacturers Life Insurance Company lifted its stake in Hanover Insurance Group by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 62,632 shares of the insurance provider’s stock worth $5,551,000 after acquiring an additional 1,238 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Hanover Insurance Group by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 12,770 shares of the insurance provider’s stock worth $1,132,000 after acquiring an additional 229 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Hanover Insurance Group by 2.5% in the second quarter. Public Employees Retirement System of Ohio now owns 21,921 shares of the insurance provider’s stock worth $1,943,000 after acquiring an additional 531 shares during the period. Finally, Lord Abbett & CO. LLC lifted its stake in Hanover Insurance Group by 10.6% in the second quarter. Lord Abbett & CO. LLC now owns 589,198 shares of the insurance provider’s stock worth $52,221,000 after acquiring an additional 56,665 shares during the period. 83.05% of the stock is owned by hedge funds and other institutional investors.
In other Hanover Insurance Group news, insider Mark Lowell Keim sold 4,966 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $107.80, for a total value of $535,334.80. Following the completion of the transaction, the insider now owns 4,966 shares in the company, valued at $535,334.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.08% of the stock is currently owned by corporate insiders.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.15. Hanover Insurance Group had a return on equity of 6.88% and a net margin of 3.59%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.46) earnings per share. analysts expect that Hanover Insurance Group Inc will post 8.55 EPS for the current fiscal year.
Separately, Zacks Investment Research lowered Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th.
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Hanover Insurance Group 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).
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