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 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 sale, the executive vice president directly owned 12,003 shares of the company’s stock, valued at approximately $2,669,587.23. This represents a 14.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $220.79, for a total transaction 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 company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $216.49 and its 200-day simple moving average is $193.15. The company 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 posted its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $1.47. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $4.35 earnings per share. As a group, equities research analysts predict that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend 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 initiated a share repurchase program on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in The Hanover Insurance Group in the second quarter valued at $756,471,000. Alliancebernstein L.P. raised its stake in 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 purchasing an additional 339,896 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of The Hanover Insurance Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after buying an additional 136,998 shares during the period. AQR Capital Management LLC boosted its holdings in The Hanover Insurance Group by 24.9% in the fourth quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock valued at $174,322,000 after acquiring an additional 190,350 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in The Hanover Insurance Group by 3.2% during the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after acquiring an additional 25,945 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

THG has been the subject of several research analyst reports. Piper Sandler cut The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their target price on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Morgan Stanley upped their price target on The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday. BMO Capital Markets lowered 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 report on Tuesday, May 19th. Finally, Citizens Jmp increased their price objective on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.71.

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.