Insider Selling: The Hanover Insurance Group (NYSE:THG) Director Sells 1,000 Shares of Stock

The Hanover Insurance Group, Inc. (NYSE:THG) Director Francisco Aristeguieta sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the transaction, the director directly owned 4,053 shares in the company, valued at approximately $791,834.61. This represents a 19.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

The Hanover Insurance Group Trading Up 0.4%

NYSE:THG traded up $0.84 during trading hours on Tuesday, reaching $195.97. 251,620 shares of the company were exchanged, compared to its average volume of 326,140. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 9.86 and a beta of 0.31. The Hanover Insurance Group, Inc. has a 52-week low of $160.70 and a 52-week high of $199.59. The stock has a 50 day simple moving average of $180.74 and a 200 day simple moving average of $179.04.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm posted $3.87 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts predict that The Hanover Insurance Group, Inc. will post 18.45 EPS for the current year.

The Hanover Insurance Group declared that its Board of Directors has approved 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 reacquire up to 10.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

THG has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Thursday, April 30th. Oppenheimer raised 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 report on Thursday, May 21st. Citizens Jmp raised their price target on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, April 30th. Finally, Wall Street Zen lowered shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $207.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Western Wealth Management LLC acquired a new position in shares of The Hanover Insurance Group in the 1st quarter valued at about $188,000. Bank of America Corp DE raised its position in shares of The Hanover Insurance Group by 10.1% during the 1st quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider’s stock worth $43,533,000 after buying an additional 22,978 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of The Hanover Insurance Group by 5.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider’s stock worth $195,000 after buying an additional 59 shares in the last quarter. California State Teachers Retirement System raised its position in shares of The Hanover Insurance Group by 30.7% during the 1st quarter. California State Teachers Retirement System now owns 43,399 shares of the insurance provider’s stock worth $7,523,000 after buying an additional 10,188 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of The Hanover Insurance Group by 6.2% in the 1st quarter. Royal Bank of Canada now owns 11,471 shares of the insurance provider’s stock worth $1,988,000 after purchasing an additional 667 shares during the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

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.