The Hanover Insurance Group, Inc. (NYSE:THG – Get Free Report) Director Jane Carlin sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the transaction, the director directly owned 2,270 shares in the company, valued at $525,505. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
The Hanover Insurance Group Stock Up 1.1%
The Hanover Insurance Group stock opened at $231.63 on Friday. The Hanover Insurance Group, Inc. has a fifty-two week low of $165.50 and a fifty-two 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’s 50-day simple moving average is $209.87 and its 200 day simple moving average is $189.49. The stock has a market cap of $8.07 billion, a PE ratio of 11.06 and a beta of 0.27.
The Hanover Insurance Group (NYSE:THG – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, beating the consensus estimate of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business posted $4.35 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts predict that The Hanover Insurance Group, Inc. will post 20.15 EPS for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The Hanover Insurance Group announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company’s management believes its stock is undervalued.
Institutional Trading of The Hanover Insurance Group
Institutional investors have recently modified their holdings of the business. JPL Wealth Management LLC purchased a new position in The Hanover Insurance Group in the 3rd quarter valued at approximately $26,000. McMillan Office Inc. purchased a new position in shares of The Hanover Insurance Group in the fourth quarter valued at $31,000. Entrust Financial LLC purchased a new position in shares of The Hanover Insurance Group in the fourth quarter valued at $33,000. Clearstead Trust LLC purchased a new stake in The Hanover Insurance Group during the 2nd quarter worth about $36,000. Finally, Root Financial Partners LLC boosted its stake in 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 worth $41,000 after purchasing an additional 97 shares during the period. 86.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective on The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Zacks Research lowered The Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Oppenheimer lifted their target price 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. 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 report on Wednesday, July 29th. Finally, Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and an average target price of $223.57.
Read Our Latest Stock Report on THG
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.
Read More
- Five stocks we like better than The Hanover Insurance Group
- Sandisk Just Delivered a Blowout Quarter—Here’s Why the Stock Is Falling
- 4 Oil and Gas ETF Plays as Prices Stay Sky-High
- What Tesla Stands to Lose If It Walks Away From China
- Disney Sets Up for a Magical Year in 2027
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.
