The Hanover Insurance Group, Inc. (NYSE:THG – Get Free Report) EVP Dennis Francis Kerrigan sold 2,104 shares of the company’s stock in a transaction that occurred 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 approximately $2,669,587.23. This trade represents a 14.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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 Performance
THG opened at $223.23 on Friday. The business’s 50-day simple moving average is $217.00 and its 200 day simple moving average is $193.36. The Hanover Insurance Group, Inc. has a 52-week low of $166.54 and a 52-week high of $236.07. 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 firm has a market capitalization of $7.77 billion, a PE ratio of 10.66 and a beta of 0.27.
The Hanover Insurance Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 13th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
The Hanover Insurance Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given 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 is 18.14%.
Analyst Upgrades and Downgrades
THG has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target on the stock. in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their price objective on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, Oppenheimer raised their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Two research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.71.
Check Out Our Latest Analysis on THG
Institutional Trading of The Hanover Insurance Group
A number of hedge funds have recently modified their holdings of THG. Basecamp Wealth Advisors LLC grew its stake in The Hanover Insurance Group by 19.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 343 shares of the insurance provider’s stock valued at $59,000 after buying an additional 55 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in 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 acquiring an additional 59 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in 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 acquiring an additional 64 shares during the last quarter. Ballentine Partners LLC boosted its holdings 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 acquiring an additional 66 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of The Hanover Insurance Group by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider’s stock valued at $2,183,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.
Featured Articles
- Five stocks we like better than The Hanover Insurance Group
- MarketBeat Week in Review – 08/17 – 08/21
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
Receive News & Ratings for The Hanover Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hanover Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.
