Key Points
- EVP Denise Lowsley sold 1,062 shares of The Hanover Insurance Group on May 8 at an average price of $188.43, totaling about $200,113. After the sale, she still owned 3,883 shares.
- The company beat quarterly earnings expectations, reporting $5.25 per share versus the $4.14 consensus, while revenue came in at $1.70 billion, above estimates and up 6.1% year over year.
- Wall Street sentiment remains constructive, with analysts holding a Moderate Buy consensus and an average target price of $203.60. The stock was trading near its 52-week high and also carries a 2.0% dividend yield.
The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) EVP Denise Lowsley sold 1,062 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $188.43, for a total transaction of $200,112.66. Following the transaction, the executive vice president owned 3,883 shares in the company, valued at $731,673.69. This trade represents a 21.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
The Hanover Insurance Group Trading Up 0.4%
THG stock opened at $189.84 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The Hanover Insurance Group, Inc. has a twelve month low of $160.70 and a twelve month high of $191.66. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 9.55 and a beta of 0.31. The firm's fifty day simple moving average is $177.47 and its two-hundred day simple moving average is $177.53.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, beating analysts' consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the business posted $3.87 earnings per share. The business's revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current year.
The Hanover Insurance Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a $0.95 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.0%. The Hanover Insurance Group's dividend payout ratio is presently 19.12%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the stock. Citizens Jmp upped their price target on shares of The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a "market outperform" rating in a report on Thursday, April 30th. Royal Bank Of Canada upped their price target on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Keefe, Bruyette & Woods upped their price target on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Zacks Research upgraded shares of The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Finally, Wall Street Zen cut shares of The Hanover Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, The Hanover Insurance Group has an average rating of "Moderate Buy" and a consensus target price of $203.60.
Get Our Latest Research Report on The Hanover Insurance Group
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its position in shares of The Hanover Insurance Group by 563.1% during the third quarter. AlphaQuest LLC now owns 13,296 shares of the insurance provider's stock valued at $2,415,000 after buying an additional 11,291 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of The Hanover Insurance Group by 5.6% during the third quarter. ProShare Advisors LLC now owns 213,676 shares of the insurance provider's stock valued at $38,810,000 after buying an additional 11,415 shares during the last quarter. Vest Financial LLC lifted its position in shares of The Hanover Insurance Group by 84.4% during the third quarter. Vest Financial LLC now owns 22,670 shares of the insurance provider's stock valued at $4,118,000 after buying an additional 10,375 shares during the last quarter. First Trust Advisors LP lifted its position in shares of The Hanover Insurance Group by 28.5% during the third quarter. First Trust Advisors LP now owns 639,264 shares of the insurance provider's stock valued at $116,110,000 after buying an additional 141,835 shares during the last quarter. Finally, Channing Capital Management LLC lifted its position in shares of The Hanover Insurance Group by 73.6% during the third quarter. Channing Capital Management LLC now owns 68,641 shares of the insurance provider's stock valued at $12,467,000 after buying an additional 29,106 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors.
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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