The Hanover Insurance Group (NYSE:THG) Director Jane Carlin Sells 1,000 Shares

The Hanover Insurance Group, Inc. (NYSE:THG) Director Jane Carlin sold 1,000 shares of The Hanover Insurance Group stock in a transaction that occurred on Monday, August 3rd. The shares were 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 approximately $525,505. The trade was a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

The Hanover Insurance Group Trading Down 1.8%

Shares of THG stock opened at $228.13 on Wednesday. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 10.89 and a beta of 0.27. The Hanover Insurance Group, Inc. has a 12-month low of $165.50 and a 12-month high of $236.07. The stock’s 50-day moving average price is $208.24 and its 200-day moving average price is $188.64. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results 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 Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business posted $4.35 earnings per share. The Hanover Insurance Group’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that The Hanover Insurance Group, Inc. will post 19.15 EPS for the current fiscal year.

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 paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio is currently 18.14%.

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

Institutional Trading of The Hanover Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. grew its stake in 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 worth $217,505,000 after purchasing an additional 339,896 shares in the last quarter. Dimensional Fund Advisors LP raised its position in The Hanover Insurance Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider’s stock valued at $168,179,000 after purchasing an additional 136,998 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of The Hanover Insurance Group by 24.9% in the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider’s stock worth $174,322,000 after buying an additional 190,350 shares during the period. First Trust Advisors LP lifted its holdings in shares of The Hanover Insurance Group by 3.2% in the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after buying an additional 25,945 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of The Hanover Insurance Group by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 727,958 shares of the insurance provider’s stock worth $133,073,000 after buying an additional 29,870 shares in the last quarter. Institutional investors own 86.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on THG shares. Citizens Jmp increased their price objective 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. Royal Bank Of Canada increased their price target on 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 boosted their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research report on Wednesday, July 15th. Finally, Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.29.

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.