The Hanover Insurance Group (NYSE:THG) CEO Sells $1,040,013.06 in Stock

The Hanover Insurance Group, Inc. (NYSE:THG) CEO John Roche sold 5,251 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $198.06, for a total value of $1,040,013.06. Following the completion of the transaction, the chief executive officer directly owned 141,011 shares in the company, valued at approximately $27,928,638.66. This trade represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

The Hanover Insurance Group Stock Up 0.6%

Shares of NYSE:THG opened at $195.65 on Friday. The business has a 50-day moving average price of $179.88 and a 200 day moving average price of $178.73. 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 company 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, Inc. has a 12-month low of $160.70 and a 12-month high of $199.59.

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

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, March 13th. The Hanover Insurance Group’s dividend payout ratio is currently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on THG shares. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Oppenheimer boosted 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 research note on Thursday. Royal Bank Of Canada increased their price objective on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods lifted their price target on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, Piper Sandler upped their price objective on The Hanover Insurance Group from $204.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.86.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of institutional investors have recently added to or reduced their stakes in THG. JPL Wealth Management LLC purchased a new stake in shares of The Hanover Insurance Group in the 3rd quarter worth about $26,000. Community Bank N.A. acquired a new position in The Hanover Insurance Group in the 3rd quarter valued at $27,000. McMillan Office Inc. purchased a new position in The Hanover Insurance Group during the fourth quarter worth about $31,000. Entrust Financial LLC purchased a new position in shares of The Hanover Insurance Group during the 4th quarter worth about $33,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of The Hanover Insurance Group by 300.0% in the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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.