Insider Selling: The Hanover Insurance Group (NYSE:THG) EVP Sells 6,551 Shares of Stock

The Hanover Insurance Group, Inc. (NYSE:THGGet Free Report) 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 sale, the executive vice president owned 12,003 shares in the company, 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 is accessible through this link.

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 Stock Performance

Shares of THG opened at $223.48 on Friday. The firm has a fifty day moving average of $216.49 and a 200-day moving average of $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 company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The Hanover Insurance Group, Inc. has a 1 year low of $166.54 and a 1 year high of $236.07.

The Hanover Insurance Group (NYSE:THGGet Free Report) last posted its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 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 Hanover Insurance Group’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.35 EPS. As a group, equities analysts anticipate that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

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

The Hanover Insurance Group Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.7%. The Hanover Insurance Group’s payout ratio is presently 18.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on THG. 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 note on Thursday, May 21st. Royal Bank Of Canada upped their price objective on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods raised their target price on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Finally, Citizens Jmp boosted their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.71.

Check Out Our Latest Stock Analysis on THG

Institutional Trading of The Hanover Insurance Group

Several institutional investors have recently modified their holdings of THG. JPL Wealth Management LLC acquired a new position in shares of The Hanover Insurance Group in the 3rd quarter worth approximately $26,000. McMillan Office Inc. acquired a new stake in The Hanover Insurance Group during the fourth quarter valued at approximately $31,000. Entrust Financial LLC acquired a new stake in The Hanover Insurance Group during the fourth quarter valued at approximately $33,000. Clearstead Trust LLC bought a new stake in The Hanover Insurance Group during the second quarter worth approximately $36,000. Finally, Root Financial Partners LLC grew its position in The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock worth $41,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for The Hanover Insurance Group (NYSE:THG)

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