Insider Selling: The Hanover Insurance Group, Inc. (NYSE:THG) EVP Sells 12,000 Shares of Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Jeffrey M. Farber sold 12,000 shares of The Hanover Insurance Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $155.08, for a total value of $1,860,960.00. Following the sale, the executive vice president now owns 66,091 shares in the company, valued at $10,249,392.28. The trade was a 0.00 % 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.

The Hanover Insurance Group Stock Down 0.4 %

Shares of NYSE THG opened at $150.23 on Thursday. The business has a 50-day simple moving average of $145.63 and a two-hundred day simple moving average of $135.56. The Hanover Insurance Group, Inc. has a 52 week low of $112.22 and a 52 week high of $155.84. The company has a market cap of $5.40 billion, a P/E ratio of 33.68 and a beta of 0.69. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, meeting analysts’ consensus estimates of $1.88. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The Hanover Insurance Group’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned ($1.91) earnings per share. Research analysts anticipate that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.85 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.26%. The Hanover Insurance Group’s payout ratio is currently 76.23%.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in The Hanover Insurance Group in the 3rd quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new position in shares of The Hanover Insurance Group during the second quarter worth about $25,000. Riverview Trust Co bought a new position in shares of The Hanover Insurance Group in the first quarter worth approximately $31,000. 1620 Investment Advisors Inc. purchased a new stake in The Hanover Insurance Group in the second quarter valued at approximately $42,000. Finally, UMB Bank n.a. lifted its position in The Hanover Insurance Group by 35.4% during the third quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Bank of America upped their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Piper Sandler boosted their price objective on The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $160.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.20.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.