3,353 Shares in The Hanover Insurance Group, Inc. $THG Acquired by Caitlin John LLC

Caitlin John LLC acquired a new stake in The Hanover Insurance Group, Inc. (NYSE:THGFree Report) during the second quarter, HoldingsChannel reports. The fund acquired 3,353 shares of the insurance provider’s stock, valued at approximately $718,000.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of The Hanover Insurance Group during the second quarter worth $756,471,000. Norges Bank acquired a new position in shares of The Hanover Insurance Group in the fourth quarter valued at about $83,817,000. Alliancebernstein L.P. grew its stake in shares of The Hanover Insurance Group by 36.1% in the second quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider’s stock valued at $217,505,000 after acquiring an additional 339,896 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of The Hanover Insurance Group in the second quarter valued at about $69,481,000. Finally, Bank of America Corp DE bought a new position in The Hanover Insurance Group during the second quarter worth about $47,734,000. Institutional investors own 86.61% of the company’s stock.

Insider Buying and Selling

In other news, EVP Dennis Francis Kerrigan sold 2,104 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the sale, the executive vice president owned 12,003 shares of the company’s stock, valued at approximately $2,669,587.23. This represents a 14.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jane D. Carlin sold 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $231.50, for a total transaction of $231,500.00. Following the sale, the director owned 2,270 shares in the company, valued at $525,505. This represents a 30.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 9,655 shares of company stock valued at $2,145,846. 2.80% of the stock is currently owned by insiders.

The Hanover Insurance Group Stock Down 0.4%

Shares of NYSE THG opened at $227.61 on Friday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 10.86 and a beta of 0.27. The stock’s fifty day moving average is $219.31 and its 200 day moving average is $194.96. 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 Hanover Insurance Group (NYSE:THGGet Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, topping the consensus estimate of $3.84 by $1.47. The business 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 revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.35 earnings per share. Sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current fiscal year.

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

The Hanover Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.95 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The Hanover Insurance Group’s payout ratio is presently 18.14%.

Wall Street Analysts Forecast Growth

THG has been the subject of several analyst reports. BMO Capital Markets cut shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $194.00 to $203.00 in a research note on Tuesday, May 19th. Piper Sandler lowered shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research report on Wednesday, July 15th. Royal Bank Of Canada raised 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 report on Thursday, July 30th. Oppenheimer lifted their price target on shares of 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. Finally, Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. Two 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 stock. According to data from MarketBeat, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and an average price target of $225.71.

Get Our Latest Stock Analysis on THG

The Hanover Insurance Group Profile

(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.

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Institutional Ownership by Quarter for The Hanover Insurance Group (NYSE:THG)

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