Key Points
- EVP Richard Lavey sold 24,420 shares on Feb. 5 at an average price of $178.92 for a total of $4,369,226.40, reducing his direct ownership by 43.15% to 32,174 shares (disclosed in an SEC filing).
- Company results and guidance: Hanover reported $5.79 EPS (above $5.20 consensus) but revenue of $1.49B slightly missed estimates, raised its quarterly dividend to $0.95 (annual $3.80, ~2.2% yield), and holds a consensus analyst rating of "Moderate Buy" with a $199 price target.
The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) EVP Richard Lavey sold 24,420 shares of The Hanover Insurance Group stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $178.92, for a total transaction of $4,369,226.40. Following the sale, the executive vice president directly owned 32,174 shares of the company's stock, valued at $5,756,572.08. This represents a 43.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
The Hanover Insurance Group Stock Down 1.0%
THG opened at $176.26 on Friday. The business's fifty day simple moving average is $178.16 and its 200 day simple moving average is $176.48. The Hanover Insurance Group, Inc. has a 52 week low of $147.76 and a 52 week high of $188.18. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 0.24. The stock has a market cap of $6.27 billion, a PE ratio of 9.70 and a beta of 0.32.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $5.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.20 by $0.59. The Hanover Insurance Group had a return on equity of 21.00% and a net margin of 10.05%.The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company posted $5.32 earnings per share. The company's revenue was up 3.0% compared to the same quarter last year. As a group, research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current fiscal year.
The Hanover Insurance Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were paid a $0.95 dividend. This is an increase from The Hanover Insurance Group's previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, December 12th. The Hanover Insurance Group's payout ratio is currently 20.91%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on THG. Keefe, Bruyette & Woods boosted their price objective on shares of The Hanover Insurance Group from $198.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, November 4th. Royal Bank Of Canada initiated coverage on shares of The Hanover Insurance Group in a research report on Monday, November 24th. They issued a "sector perform" rating and a $200.00 target price on the stock. Finally, Weiss Ratings restated a "buy (b)" rating on shares of The Hanover Insurance Group in a research report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.00.
View Our Latest Stock Report on The Hanover Insurance Group
Institutional Investors Weigh In On The Hanover Insurance Group
Institutional investors have recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new position in shares of The Hanover Insurance Group in the third quarter valued at about $26,000. Community Bank N.A. bought a new stake in shares of The Hanover Insurance Group in the third quarter worth about $27,000. Entrust Financial LLC bought a new stake in shares of The Hanover Insurance Group in the fourth quarter worth about $33,000. Clearstead Advisors LLC increased its holdings in The Hanover Insurance Group by 300.0% during the 3rd quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 150 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in The Hanover Insurance Group by 56.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 224 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company's stock.
About The Hanover Insurance Group
(
Get Free Report)
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.
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