Insider Selling: The Hanover Insurance Group (NYSE:THG) EVP Sells 2,104 Shares of Stock

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

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 value of $1,446,395.29.

The Hanover Insurance Group Stock Up 2.1%

Shares of NYSE:THG opened at $223.48 on Friday. The Hanover Insurance Group, Inc. has a fifty-two week low of $166.54 and a fifty-two week high of $236.07. The firm’s 50 day moving average price is $216.49 and its 200 day moving average price is $193.15. 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 stock has a market cap of $7.78 billion, a price-to-earnings ratio of 10.67 and a beta of 0.27.

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

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is 18.14%.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on THG shares. Morgan Stanley boosted their price objective on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Oppenheimer lifted 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 research note on Thursday, May 21st. Citizens Jmp boosted their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 29th. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets cut The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and upped their target price for the company 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 given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.71.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in The Hanover Insurance Group in the second quarter valued at $756,471,000. Norges Bank purchased a new stake in shares of The Hanover Insurance Group in the fourth quarter valued at about $83,817,000. Alliancebernstein L.P. boosted its stake in shares of The Hanover Insurance Group by 36.1% during the second quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock worth $217,505,000 after buying an additional 339,896 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of The Hanover Insurance Group during the second quarter worth about $69,481,000. Finally, Bank of America Corp DE purchased a new position in shares of The Hanover Insurance Group during the second quarter worth about $47,734,000. 86.61% of the stock is owned by institutional investors and hedge funds.

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.