Dennis Francis Kerrigan Sells 2,104 Shares of The Hanover Insurance Group (NYSE:THG) Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Dennis Francis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the transaction, the executive vice president directly owned 12,003 shares in the company, valued at approximately $2,669,587.23. This trade represents a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, August 19th, Dennis Francis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29.

The Hanover Insurance Group Stock Up 0.1%

Shares of NYSE:THG opened at $223.23 on Friday. The firm has a 50 day simple moving average of $217.00 and a 200 day simple moving average of $193.36. The Hanover Insurance Group, Inc. has a 52 week low of $166.54 and a 52 week high of $236.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $7.77 billion, a PE ratio of 10.66 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company posted $4.35 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, research analysts expect that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.

The Hanover Insurance Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 13th that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the insurance provider to buy up to 10.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

The Hanover Insurance Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on THG. Morgan Stanley increased their price objective on The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Royal Bank Of Canada lifted their target price on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Citizens Jmp upped their target price on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a “market outperform” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of The Hanover Insurance Group from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, July 30th. Finally, Citigroup reissued an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Two investment 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 company’s stock. According to data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and an average price target of $225.71.

Institutional Trading of The Hanover Insurance Group

Institutional investors have recently added to or reduced their stakes in the business. JPL Wealth Management LLC acquired a new position in shares of The Hanover Insurance Group during the 3rd quarter worth $26,000. Clearstead Trust LLC bought a new position in shares of The Hanover Insurance Group during the 2nd quarter valued at $36,000. McMillan Office Inc. acquired a new stake in shares of The Hanover Insurance Group in the 4th quarter valued at $31,000. Entrust Financial LLC acquired a new stake in shares of The Hanover Insurance Group in the 4th quarter valued at $33,000. Finally, Root Financial Partners LLC boosted its holdings in The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 97 shares in the last quarter. 86.61% of the stock is currently owned by institutional investors and hedge funds.

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.