Shares of Hanover Insurance Slump on Lowered Guidance

The Hanover Insurance Group

reported earnings on Wednesday. The company posted a second-quarter EPS of $0.22, higher than the $0.19 estimate. Hanover Insurance held their conference call early on Thursday. In the call, the company lowered its guidance, saying that it anticipated yearly segment income to come in at $2.70-2.90 per share, much lower than the $3.16 estimate and down from the company's previous guidance of $3.85-4.15. Shares traded down over 2% Thursday morning.