Key Points
- CEO John Roche sold 5,251 shares of The Hanover Insurance Group for about $1.04 million, reducing his stake by 3.59% while still holding 141,011 shares.
- The company beat quarterly earnings expectations, reporting $5.25 EPS versus the $4.14 consensus and revenue of $1.70 billion, up 6.1% year over year.
- The Hanover also authorized a $700 million stock buyback, while analysts generally remain positive with a consensus rating of “Moderate Buy” and an average target price of $203.50.
The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) CEO John Roche sold 5,251 shares of The Hanover Insurance Group stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $198.06, for a total value of $1,040,013.06. Following the completion of the transaction, the chief executive officer owned 141,011 shares of the company's stock, valued at $27,928,638.66. The trade was a 3.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
The Hanover Insurance Group Stock Performance
Shares of THG opened at $193.95 on Wednesday. The stock has a 50-day simple moving average of $179.06 and a 200-day simple moving average of $178.38. 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 market capitalization of $6.79 billion, a PE ratio of 9.76 and a beta of 0.31. The Hanover Insurance Group, Inc. has a 1 year low of $160.70 and a 1 year high of $199.59.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $1.11. The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.58 billion. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.87 EPS. On average, analysts predict that The Hanover Insurance Group, Inc. will post 18.45 earnings per share for the current fiscal year.
The Hanover Insurance Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, March 13th. This represents a $3.80 annualized dividend and a yield of 2.0%. The Hanover Insurance Group's payout ratio is presently 19.12%.
The Hanover Insurance Group announced that its board has authorized a stock repurchase program on Wednesday, May 13th that allows the company to buyback $700.00 million in shares. This buyback authorization allows the insurance provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Piper Sandler boosted their target price on The Hanover Insurance Group from $204.00 to $212.00 and gave the stock an "overweight" rating 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. Royal Bank Of Canada boosted their target price on The Hanover Insurance Group from $190.00 to $195.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Citigroup restated an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Finally, Wall Street Zen cut The Hanover Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $203.50.
View Our Latest Report on The Hanover Insurance Group
Institutional Investors Weigh In On The Hanover Insurance Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in The Hanover Insurance Group by 5.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the insurance provider's stock valued at $195,000 after buying an additional 59 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of The Hanover Insurance Group by 3.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,880 shares of the insurance provider's stock valued at $344,000 after purchasing an additional 64 shares during the period. Ballentine Partners LLC increased its holdings in shares of The Hanover Insurance Group by 3.4% in the fourth quarter. Ballentine Partners LLC now owns 2,026 shares of the insurance provider's stock valued at $370,000 after purchasing an additional 66 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of The Hanover Insurance Group by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,020 shares of the insurance provider's stock valued at $2,183,000 after purchasing an additional 66 shares during the period. Finally, NorthCrest Asset Manangement LLC increased its holdings in shares of The Hanover Insurance Group by 5.5% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,294 shares of the insurance provider's stock valued at $234,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 86.61% of the company's stock.
The Hanover Insurance Group Company Profile
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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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