The Hanover Insurance Group (NYSE:THG) EVP Sells $467,950.64 in Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Dennis Francis Kerrigan sold 2,104 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the transaction, the executive vice president directly owned 12,003 shares in the company, valued at $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Dennis Francis Kerrigan also recently made the following trade(s):

• On Wednesday, August 19th, Dennis Francis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29.

The Hanover Insurance Group Stock Up 0.0%

THG stock opened at $223.23 on Monday. The Hanover Insurance Group, Inc. has a 12-month low of $166.54 and a 12-month high of $236.07. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 10.66 and a beta of 0.27. The company has a 50 day moving average of $217.00 and a two-hundred day moving average of $193.50.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company posted $4.35 EPS. The Hanover Insurance Group’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current fiscal year.

The Hanover Insurance Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 13th that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 18.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on THG shares. Keefe, Bruyette & Woods raised their price target on The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Morgan Stanley boosted their price target on The Hanover Insurance Group from $235.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada increased their price objective on The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets downgraded shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $194.00 to $203.00 in a research report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $225.71.

Institutional Trading of The Hanover Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legato Capital Management LLC bought a new position in The Hanover Insurance Group in the 4th quarter worth $1,238,000. Intech Investment Management LLC bought a new stake in The Hanover Insurance Group during the fourth quarter valued at about $4,926,000. UBS Group AG boosted its holdings in The Hanover Insurance Group by 58.7% during the fourth quarter. UBS Group AG now owns 149,300 shares of the insurance provider’s stock valued at $27,288,000 after acquiring an additional 55,220 shares during the period. Norges Bank acquired a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $83,817,000. Finally, Dockside LLC acquired a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $1,225,000. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.