The Hanover Insurance Group (NYSE:THG) EVP Dennis Francis Kerrigan Sells 6,551 Shares of Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Dennis Francis Kerrigan sold 6,551 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total value of $1,446,395.29. Following the completion of the transaction, the executive vice president directly owned 12,003 shares of the company’s stock, valued at $2,650,142.37. The trade was a 35.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dennis Francis Kerrigan also recently made the following trade(s):

• On Thursday, August 20th, Dennis Francis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock. The shares were sold at an average price of $222.41, for a total value of $467,950.64.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $223.23 on Friday. The firm has a market capitalization of $7.77 billion, a PE ratio of 10.66 and a beta of 0.27. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $236.07. The firm’s 50 day simple moving average is $217.00 and its 200 day simple moving average is $193.36. 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 issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business posted $4.35 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts expect that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.95 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.7%. The Hanover Insurance Group’s payout ratio is 18.14%.

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

Hedge Funds Weigh In On The Hanover Insurance Group

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of The Hanover Insurance Group during the second quarter worth $756,471,000. Norges Bank bought a new stake in The Hanover Insurance Group in the 4th quarter valued at $83,817,000. Alliancebernstein L.P. lifted its stake in The Hanover Insurance Group by 36.1% in the 2nd 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. Bank of New York Mellon Corp purchased a new stake in shares of The Hanover Insurance Group in the second quarter worth about $69,481,000. Finally, Bank of America Corp DE bought a new position in shares of The Hanover Insurance Group during the 2nd quarter valued at approximately $47,734,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on THG shares. Oppenheimer increased their target price 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. Citizens Jmp boosted their target price on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods upped their price target on The Hanover Insurance Group from $220.00 to $222.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $194.00 to $203.00 in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada boosted their target price on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.71.

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.