The Hanover Insurance Group (NYSE:THG) CEO John Roche Sells 8,358 Shares

The Hanover Insurance Group, Inc. (NYSE:THG) CEO John Roche sold 8,358 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the completion of the sale, the chief executive officer directly owned 141,011 shares of the company’s stock, valued at approximately $27,319,471.14. The trade was a 5.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

The Hanover Insurance Group Stock Up 0.6%

Shares of NYSE THG opened at $195.65 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $6.85 billion, a P/E ratio of 9.85 and a beta of 0.31. The Hanover Insurance Group, Inc. has a 1 year low of $160.70 and a 1 year high of $199.59. The firm has a 50-day simple moving average of $179.88 and a two-hundred day simple moving average of $178.73.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $1.11. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.87 earnings per share. Research analysts anticipate that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current year.

The Hanover Insurance Group announced that its Board of Directors has authorized a share 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 reacquire up to 10.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.9%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 19.12%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on THG shares. Piper Sandler lifted their price objective on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 8th. Oppenheimer increased their price target on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $194.00 to $203.00 in a research report on Tuesday. Finally, Morgan Stanley set a $195.00 price objective on shares of The Hanover Insurance Group in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of THG. EverSource Wealth Advisors LLC increased its position in shares of The Hanover Insurance Group by 5.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock worth $195,000 after purchasing an additional 59 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of The Hanover Insurance Group by 3.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider’s stock worth $344,000 after purchasing an additional 64 shares in the last quarter. Ballentine Partners LLC increased its position in shares of The Hanover Insurance Group by 3.4% during the fourth quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 66 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of The Hanover Insurance Group by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock worth $2,183,000 after purchasing an additional 66 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC increased its position in shares of The Hanover Insurance Group by 5.5% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,294 shares of the insurance provider’s stock worth $234,000 after purchasing an additional 68 shares in the last quarter. 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.