The Hanover Insurance Group, Inc. (NYSE:THG) EVP Sells $180,132.00 in Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Jeffrey M. Farber sold 1,200 shares of The Hanover Insurance Group stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $150.11, for a total transaction of $180,132.00. Following the transaction, the executive vice president now directly owns 85,983 shares in the company, valued at $12,906,908.13. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

The Hanover Insurance Group Price Performance

The Hanover Insurance Group stock opened at $146.86 on Friday. The business’s 50 day simple moving average is $138.47 and its 200 day simple moving average is $132.64. The Hanover Insurance Group, Inc. has a 12 month low of $108.03 and a 12 month high of $150.95. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 32.93 and a beta of 0.70. 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 Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned ($1.91) EPS. The firm’s quarterly revenue 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.

The Hanover Insurance Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 76.23%.

Institutional Trading of The Hanover Insurance Group

A number of institutional investors have recently modified their holdings of THG. Price T Rowe Associates Inc. MD raised its holdings in The Hanover Insurance Group by 75.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 965,374 shares of the insurance provider’s stock valued at $117,217,000 after acquiring an additional 414,993 shares during the period. Norges Bank bought a new stake in shares of The Hanover Insurance Group during the 4th quarter valued at $48,900,000. Wellington Management Group LLP lifted its holdings in The Hanover Insurance Group by 149.4% during the 4th quarter. Wellington Management Group LLP now owns 417,767 shares of the insurance provider’s stock worth $50,725,000 after purchasing an additional 250,254 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in The Hanover Insurance Group by 1,294.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 145,089 shares of the insurance provider’s stock worth $17,617,000 after purchasing an additional 134,685 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in The Hanover Insurance Group during the 2nd quarter valued at about $14,684,000. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.