The Hanover Insurance Group, Inc. (NYSE:THG) EVP Sells $1,219,476.68 in Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Richard W. Lavey sold 8,468 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $144.01, for a total transaction of $1,219,476.68. Following the completion of the transaction, the executive vice president now owns 36,281 shares in the company, valued at approximately $5,224,826.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $146.99 on Tuesday. The Hanover Insurance Group, Inc. has a 12 month low of $103.82 and a 12 month high of $147.19. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $132.23 and its 200 day simple moving average is $131.26. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 32.96 and a beta of 0.68.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.88. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm posted ($1.91) EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that The Hanover Insurance Group, Inc. will post 10.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on THG shares. JMP Securities raised their price target on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the stock a “market outperform” rating in a report on Thursday, August 1st. Piper Sandler boosted their target price on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America lowered their price objective on The Hanover Insurance Group from $161.00 to $158.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.80.

Hedge Funds Weigh In On The Hanover Insurance Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new stake in The Hanover Insurance Group during the 2nd quarter valued at about $25,000. Riverview Trust Co purchased a new stake in shares of The Hanover Insurance Group during the first quarter valued at approximately $31,000. Quarry LP bought a new position in shares of The Hanover Insurance Group in the fourth quarter worth approximately $34,000. 1620 Investment Advisors Inc. bought a new stake in The Hanover Insurance Group during the 2nd quarter valued at $42,000. Finally, GHP Investment Advisors Inc. grew its holdings in The Hanover Insurance Group by 64.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 427 shares of the insurance provider’s stock worth $54,000 after acquiring an additional 168 shares during the last quarter. 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, 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.