The Hanover Insurance Group (NYSE:THG) EVP Sells $1,446,395.29 in Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Dennis Francis Kerrigan sold 6,551 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total value of $1,446,395.29. Following the completion of the transaction, the executive vice president owned 12,003 shares of the company’s stock, valued at $2,650,142.37. The trade was a 35.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, August 20th, Dennis Francis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock. The stock was sold at an average price of $222.41, for a total value of $467,950.64.

The Hanover Insurance Group Price Performance

NYSE:THG opened at $223.23 on Monday. The Hanover Insurance Group, Inc. has a 52 week low of $166.54 and a 52 week high of $236.07. The stock’s fifty day moving average is $217.00 and its two-hundred day moving average is $193.50. The company has a market capitalization of $7.77 billion, a P/E ratio of 10.66 and a beta of 0.27. 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 Hanover Insurance Group (NYSE:THG) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $4.35 EPS. Equities analysts expect that The Hanover Insurance Group, Inc. will post 20.17 EPS 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 repurchase up to 10.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend 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 (DPR) is 18.14%.

Institutional Investors Weigh In On The Hanover Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in The Hanover Insurance Group during the third quarter worth approximately $26,000. McMillan Office Inc. acquired a new position in shares of The Hanover Insurance Group in the 4th quarter valued at $31,000. Entrust Financial LLC acquired a new position in shares of The Hanover Insurance Group in the 4th quarter valued at $33,000. Clearstead Trust LLC purchased a new position in shares of The Hanover Insurance Group in the 2nd quarter valued at $36,000. Finally, Root Financial Partners LLC grew its position in shares of The Hanover Insurance Group by 69.3% in the 1st quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after buying an additional 97 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

THG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, July 30th. BMO Capital Markets downgraded shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Finally, Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $225.71.

About The Hanover Insurance Group

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.