Key Points
- EVP Denise Lowsley sold 4,175 shares of The Hanover Insurance Group on May 14 at an average price of $191.73, for proceeds of about $800,473. After the sale, she held 3,883 shares, a 51.81% reduction in her stake.
- The company reported stronger-than-expected quarterly results, posting $5.25 EPS versus estimates of $4.14 and revenue of $1.70 billion versus $1.58 billion expected. Revenue rose 6.1% year over year.
- The Hanover Insurance Group authorized a $700 million share repurchase program, allowing it to buy back up to 10.6% of outstanding shares. The stock also carries a quarterly dividend of $0.95, or $3.80 annually, for a 2.0% yield.
The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) EVP Denise Lowsley sold 4,175 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $191.73, for a total value of $800,472.75. Following the sale, the executive vice president directly owned 3,883 shares of the company's stock, valued at $744,487.59. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Denise Lowsley also recently made the following trade(s):
- On Friday, May 8th, Denise Lowsley sold 1,062 shares of The Hanover Insurance Group stock. The stock was sold at an average price of $188.43, for a total value of $200,112.66.
The Hanover Insurance Group Stock Performance
Shares of THG opened at $194.83 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a 50 day moving average price of $178.36 and a two-hundred day moving average price of $177.97. The firm has a market capitalization of $6.82 billion, a P/E ratio of 9.81 and a beta of 0.31. The Hanover Insurance Group, Inc. has a 52 week low of $160.70 and a 52 week high of $195.74.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $1.11. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.87 EPS. Equities analysts forecast that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current fiscal year.
The Hanover Insurance Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
The Hanover Insurance Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, March 13th. The Hanover Insurance Group's payout ratio is presently 19.12%.
Analyst Ratings Changes
THG has been the topic of a number of research analyst reports. Citizens Jmp boosted their target price on The Hanover Insurance Group from $200.00 to $205.00 and gave the stock a "market outperform" rating in a research note on Thursday, April 30th. Wall Street Zen downgraded The Hanover Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Morgan Stanley set a $195.00 target price on The Hanover Insurance Group in a research note on Friday, May 1st. Zacks Research upgraded The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods boosted their target price on The Hanover Insurance Group from $208.00 to $211.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of "Moderate Buy" and an average price target of $203.60.
Check Out Our Latest Stock Report on The Hanover Insurance Group
Hedge Funds Weigh In On The Hanover Insurance Group
Several institutional investors have recently bought and sold shares of THG. Millennium Management LLC lifted its stake in The Hanover Insurance Group by 61.0% in the first quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider's stock valued at $15,371,000 after purchasing an additional 33,495 shares during the last quarter. NewEdge Advisors LLC lifted its stake in The Hanover Insurance Group by 1,568.9% in the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider's stock valued at $131,000 after purchasing an additional 706 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in The Hanover Insurance Group by 21.6% in the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider's stock valued at $38,052,000 after purchasing an additional 38,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in The Hanover Insurance Group by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider's stock valued at $22,445,000 after purchasing an additional 7,712 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of The Hanover Insurance Group by 7.7% during the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider's stock worth $48,155,000 after acquiring an additional 20,294 shares in 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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