Key Points
- Director Jane Carlin sold 1,000 THG shares at an average price of $231.50, totaling $231,500 and reducing her direct holdings by 30.58% to 2,270 shares.
- The Hanover Insurance Group reported a strong quarterly performance, with EPS of $5.31 versus the $3.84 consensus and revenue of $1.73 billion, up 4.6% year over year.
- The company pays a $0.95 quarterly dividend, yielding about 1.7%, and authorized a $700 million share-repurchase program covering up to 10.6% of outstanding shares. Analysts maintain a “Moderate Buy” consensus with a $223.29 price target.
The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) Director Jane Carlin sold 1,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the transaction, the director directly owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
The Hanover Insurance Group Trading Down 1.8%
NYSE:THG opened at $228.13 on Wednesday. The Hanover Insurance Group, Inc. has a one year low of $165.50 and a one year high of $236.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $7.94 billion, a P/E ratio of 10.89 and a beta of 0.27. The firm has a 50-day simple moving average of $208.24 and a 200-day simple moving average of $188.64.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm earned $4.35 earnings per share. The company's quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts anticipate that The Hanover Insurance Group, Inc. will post 19.15 EPS for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.95 per share. The ex-dividend date was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a yield of 1.7%. The Hanover Insurance Group's dividend payout ratio is currently 18.14%.
The Hanover Insurance Group announced that its board has authorized a share repurchase program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes 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 Ratings Changes
THG has been the topic of a number of analyst reports. Zacks Research downgraded The Hanover Insurance Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Weiss Ratings upgraded The Hanover Insurance Group from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, July 30th. Citizens Jmp raised their price objective on The Hanover Insurance Group from $225.00 to $240.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 29th. BMO Capital Markets lowered The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $194.00 to $203.00 in a research note on Tuesday, May 19th. Finally, Morgan Stanley boosted their target price on shares of The Hanover Insurance Group from $220.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $223.29.
Check Out Our Latest Report on The Hanover Insurance Group
Institutional Trading of The Hanover Insurance Group
Several hedge funds and other institutional investors have recently made changes to their positions in THG. Legato Capital Management LLC acquired a new stake in The Hanover Insurance Group in the fourth quarter worth about $1,238,000. Intech Investment Management LLC acquired a new position in shares of The Hanover Insurance Group during the fourth quarter valued at about $4,926,000. UBS Group AG increased its holdings in shares of The Hanover Insurance Group by 58.7% during the fourth quarter. UBS Group AG now owns 149,300 shares of the insurance provider's stock valued at $27,288,000 after acquiring an additional 55,220 shares in the last quarter. Norges Bank purchased a new position in shares of The Hanover Insurance Group in the 4th quarter valued at approximately $83,817,000. Finally, Dockside LLC purchased a new position in shares of The Hanover Insurance Group in the 4th quarter valued at approximately $1,225,000. 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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