The Hanover Insurance Group (NYSE:THG) EVP Sells $1,208,503.38 in Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Dennis Francis Kerrigan sold 6,262 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $192.99, for a total value of $1,208,503.38. Following the transaction, the executive vice president owned 11,988 shares in the company, valued at $2,313,564.12. This trade represents a 34.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

The Hanover Insurance Group Price Performance

Shares of The Hanover Insurance Group stock opened at $195.34 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.83 billion, a PE ratio of 9.83 and a beta of 0.31. The business’s 50-day moving average price is $180.32 and its 200-day moving average price is $178.84. The Hanover Insurance Group, Inc. has a 12 month low of $160.70 and a 12 month high of $199.59.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.14 by $1.11. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.87 EPS. Sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 18.45 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, March 13th. This represents a $3.80 annualized dividend and a yield of 1.9%. The Hanover Insurance Group’s dividend payout ratio is currently 19.12%.

The Hanover Insurance Group announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 13th that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the insurance provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

THG has been the subject of several analyst reports. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 8th. Morgan Stanley set a $195.00 target price on The Hanover Insurance Group in a report on Friday, May 1st. Oppenheimer raised their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Finally, Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.86.

The Hanover Insurance Group News Roundup

Here are the key news stories impacting The Hanover Insurance Group this week:

• Positive Sentiment: THG was upgraded to Zacks Rank #1 (Strong Buy), with Zacks citing improving earnings outlook and stronger estimate trends. Article title
• Positive Sentiment: THG also landed on Zacks’ Strong Buy income and Strong Buy value stock lists, reinforcing the view that the shares may still be attractive after a strong earnings beat and recent rally. Article title Article title
• Positive Sentiment: Earlier analyst updates remained constructive, including Oppenheimer raising its price target to $220 and maintaining an outperform view, which suggests further upside from current levels. Article title
• Neutral Sentiment: Two executives disclosed stock sales, including CEO John C. Roche and EVP Dennis Francis Kerrigan. Insider selling can sometimes weigh on sentiment, but the transactions were part of routine filings and do not by themselves signal a business deterioration. Article title
• Positive Sentiment: The company’s latest earnings report was strong, with EPS and revenue both topping estimates, and THG also authorized a $700 million share repurchase program, a shareholder-friendly move that can support the stock.

Institutional Investors Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the business. AlphaQuest LLC lifted its holdings in The Hanover Insurance Group by 563.1% in the 3rd quarter. AlphaQuest LLC now owns 13,296 shares of the insurance provider’s stock worth $2,415,000 after buying an additional 11,291 shares during the period. ProShare Advisors LLC lifted its stake in shares of The Hanover Insurance Group by 5.6% in the 3rd quarter. ProShare Advisors LLC now owns 213,676 shares of the insurance provider’s stock valued at $38,810,000 after purchasing an additional 11,415 shares during the period. Vest Financial LLC lifted its stake in shares of The Hanover Insurance Group by 84.4% in the 3rd quarter. Vest Financial LLC now owns 22,670 shares of the insurance provider’s stock valued at $4,118,000 after purchasing an additional 10,375 shares during the period. First Trust Advisors LP lifted its stake in shares of The Hanover Insurance Group by 28.5% in the 3rd quarter. First Trust Advisors LP now owns 639,264 shares of the insurance provider’s stock valued at $116,110,000 after purchasing an additional 141,835 shares during the period. Finally, Channing Capital Management LLC lifted its stake in shares of The Hanover Insurance Group by 73.6% in the 3rd quarter. Channing Capital Management LLC now owns 68,641 shares of the insurance provider’s stock valued at $12,467,000 after purchasing an additional 29,106 shares during the period. Hedge funds and other institutional investors 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.