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 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 completion of the sale, the director owned 2,270 shares in the company, valued at $525,505. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

The Hanover Insurance Group Trading Down 1.8%

NYSE THG traded down $4.20 during trading on Tuesday, reaching $228.13. 365,701 shares of the stock traded hands, compared to its average volume of 332,025. The Hanover Insurance Group, Inc. has a fifty-two week low of $165.50 and a fifty-two week high of $236.07. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 10.89 and a beta of 0.28. The stock’s 50-day moving average price is $207.60 and its 200 day moving average price is $188.24.

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 analysts’ consensus estimates 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 period last year, the firm posted $4.35 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts predict that The Hanover Insurance Group, Inc. will post 19.15 EPS for the current year.

The Hanover Insurance Group Announces Dividend

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

The Hanover Insurance Group announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 13th that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows 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 of directors believes its shares are undervalued.

Institutional Trading of The Hanover Insurance Group

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its position in The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after buying an additional 33,495 shares during the last quarter. NewEdge Advisors LLC boosted its position in The Hanover Insurance Group by 1,568.9% during the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock worth $131,000 after acquiring an additional 706 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of The Hanover Insurance Group by 21.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock worth $38,052,000 after acquiring an additional 38,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of The Hanover Insurance Group by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock worth $22,445,000 after acquiring an additional 7,712 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of The Hanover Insurance Group by 7.7% during the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock worth $48,155,000 after acquiring an additional 20,294 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

THG has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on The Hanover Insurance Group from $220.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday. Oppenheimer lifted 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 research note on Thursday, May 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $220.00 price target (up from $211.00) on shares of The Hanover Insurance Group in a report on Wednesday, July 8th. Finally, Piper Sandler downgraded shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.29.

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.