Comerica Bank Sells 2,755 Shares of The Hanover Insurance Group, Inc. (NYSE:THG)

Comerica Bank cut its stake in The Hanover Insurance Group, Inc. (NYSE:THG) by 4.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,345 shares of the insurance provider’s stock after selling 2,755 shares during the quarter. Comerica Bank owned about 0.15% of The Hanover Insurance Group worth $7,400,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Tidal Investments LLC bought a new position in The Hanover Insurance Group in the 1st quarter worth $867,000. B. Riley Wealth Advisors Inc. bought a new position in shares of The Hanover Insurance Group in the 1st quarter worth about $261,000. Interval Partners LP bought a new position in shares of The Hanover Insurance Group in the 1st quarter worth about $2,349,000. Jacobs Levy Equity Management Inc. increased its stake in shares of The Hanover Insurance Group by 3.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 282,302 shares of the insurance provider’s stock worth $38,441,000 after acquiring an additional 8,392 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of The Hanover Insurance Group by 5.3% in the 1st quarter. Janus Henderson Group PLC now owns 362,046 shares of the insurance provider’s stock worth $49,298,000 after acquiring an additional 18,109 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on THG. Keefe, Bruyette & Woods increased their price target on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Oppenheimer increased their price target on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. JMP Securities raised their price objective on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the company a “market outperform” rating in a research note on Thursday. Finally, Piper Sandler raised their price objective on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $151.00.

The Hanover Insurance Group Stock Performance

Shares of NYSE THG traded up $1.46 during trading on Friday, reaching $136.49. 66,037 shares of the company traded hands, compared to its average volume of 172,856. The firm has a 50 day simple moving average of $128.07 and a 200-day simple moving average of $130.37. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.91 billion, a PE ratio of 30.49 and a beta of 0.68. The Hanover Insurance Group, Inc. has a 52-week low of $103.82 and a 52-week high of $139.25.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.88. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.66%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.91) EPS. Equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 10.53 earnings per share for the current year.

The Hanover Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, June 13th. The Hanover Insurance Group’s payout ratio is 76.23%.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Willard T. Lee sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total transaction of $135,940.00. Following the sale, the executive vice president now owns 4,398 shares in the company, valued at approximately $597,864.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,119 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $132.25, for a total transaction of $147,987.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Willard T. Lee sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total transaction of $135,940.00. Following the sale, the executive vice president now owns 4,398 shares in the company, valued at approximately $597,864.12. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

About The Hanover Insurance Group

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.