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

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Dennis Francis Kerrigan sold 6,262 shares of The Hanover Insurance Group stock in a transaction dated 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 in the company, valued at approximately $2,313,564.12. This represents a 34.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

The Hanover Insurance Group Trading Up 0.6%

Shares of THG traded up $1.09 during trading hours on Thursday, hitting $195.65. The company had a trading volume of 279,165 shares, compared to its average volume of 328,286. The stock’s 50 day moving average price is $179.45 and its 200 day moving average price is $178.55. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The firm has a market cap of $6.85 billion, a P/E ratio of 9.85 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 Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping 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 company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business earned $3.87 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research 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 authorized a share repurchase program on Wednesday, May 13th that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits 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 leadership believes its shares are undervalued.

The Hanover Insurance Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. BMO Capital Markets lowered shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $194.00 to $203.00 in a research note on Tuesday. Oppenheimer boosted their target price on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank Of Canada boosted their target price on shares of 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. Finally, Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.86.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of hedge funds have recently added to or reduced their stakes in THG. AlphaQuest LLC boosted its holdings in The Hanover Insurance Group by 563.1% in the 3rd quarter. AlphaQuest LLC now owns 13,296 shares of the insurance provider’s stock worth $2,415,000 after buying an additional 11,291 shares during the period. ProShare Advisors LLC boosted its holdings in The Hanover Insurance Group by 5.6% in the 3rd quarter. ProShare Advisors LLC now owns 213,676 shares of the insurance provider’s stock worth $38,810,000 after buying an additional 11,415 shares during the period. Vest Financial LLC boosted its holdings in The Hanover Insurance Group by 84.4% in the 3rd quarter. Vest Financial LLC now owns 22,670 shares of the insurance provider’s stock worth $4,118,000 after buying an additional 10,375 shares during the period. First Trust Advisors LP boosted its holdings in The Hanover Insurance Group by 28.5% in the 3rd quarter. First Trust Advisors LP now owns 639,264 shares of the insurance provider’s stock worth $116,110,000 after buying an additional 141,835 shares during the period. Finally, Channing Capital Management LLC boosted its holdings in The Hanover Insurance Group by 73.6% in the 3rd quarter. Channing Capital Management LLC now owns 68,641 shares of the insurance provider’s stock worth $12,467,000 after buying an additional 29,106 shares during the period. 86.61% of the stock is currently owned by hedge funds and other 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.