The Hanover Insurance Group (NYSE:THG) EVP Dennis Francis Kerrigan Sells 6,262 Shares of Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Dennis Francis Kerrigan sold 6,262 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $192.99, for a total value of $1,208,503.38. Following the completion of the transaction, the executive vice president owned 11,988 shares of the company’s stock, valued at $2,313,564.12. The trade was a 34.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

The Hanover Insurance Group Trading Up 0.6%

Shares of THG stock opened at $195.65 on Friday. The Hanover Insurance Group, Inc. has a 12-month low of $160.70 and a 12-month high of $199.59. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average price is $179.88 and its 200-day moving average price is $178.73. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 9.85 and a beta of 0.31.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $3.87 earnings per share. The Hanover Insurance Group’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that The Hanover Insurance Group, Inc. will post 18.45 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.80 annualized dividend and a yield of 1.9%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 19.12%.

The Hanover Insurance Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 13th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the insurance provider to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank Of Canada upped their price target on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Morgan Stanley set a $195.00 price target on shares of The Hanover Insurance Group in a report on Friday, May 1st. Oppenheimer upped their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler upped their price target on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Citizens Jmp lifted their target price on The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.86.

Hedge Funds Weigh In On The Hanover Insurance Group

A number of large investors have recently added to or reduced their stakes in THG. JPL Wealth Management LLC bought a new position in The Hanover Insurance Group in the third quarter worth about $26,000. Community Bank N.A. bought a new position in The Hanover Insurance Group in the third quarter worth about $27,000. McMillan Office Inc. bought a new position in The Hanover Insurance Group in the fourth quarter worth about $31,000. Entrust Financial LLC bought a new position in The Hanover Insurance Group in the fourth quarter worth about $33,000. Finally, Clearstead Advisors LLC raised its holdings in The Hanover Insurance Group by 300.0% in the third quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 150 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

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.