Key Points
- Executive selling: EVP Dennis Francis Kerrigan sold 6,551 THG shares for approximately $1.45 million at an average price of $220.79, reducing his direct ownership by 35.31%. He also sold an additional 2,104 shares the following day for about $467,951.
- Strong quarterly results: Hanover reported quarterly EPS of $5.31, exceeding analysts’ $3.84 estimate, while revenue rose 4.6% year over year to $1.73 billion.
- Shareholder returns and outlook: The company authorized a $700 million share-repurchase program and pays a $0.95 quarterly dividend, representing a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $225.71.
The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) EVP Dennis Francis Kerrigan sold 2,104 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $222.41, for a total transaction of $467,950.64. Following the transaction, the executive vice president directly owned 12,003 shares in the company, valued at approximately $2,669,587.23. This represents a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Dennis Francis Kerrigan also recently made the following trade(s):
- On Wednesday, August 19th, Dennis Francis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock. The stock was sold at an average price of $220.79, for a total transaction of $1,446,395.29.
The Hanover Insurance Group Stock Performance
NYSE THG opened at $223.23 on Friday. The firm has a 50-day moving average price of $217.00 and a two-hundred day moving average price of $193.36. The Hanover Insurance Group, Inc. has a 12-month low of $166.54 and a 12-month high of $236.07. The company has a market capitalization of $7.77 billion, a P/E ratio of 10.66 and a beta of 0.27. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same period last year, the firm earned $4.35 earnings per share. The business's revenue for the quarter was up 4.6% on a year-over-year basis. Analysts anticipate that The Hanover Insurance Group, Inc. will post 20.17 earnings per share for the current year.
The Hanover Insurance Group declared that its board has approved a share buyback program on Wednesday, May 13th that authorizes the company to buyback $700.00 million in outstanding 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 often an indication that the company's board of directors believes its shares are undervalued.
The Hanover Insurance Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.95 per share. The ex-dividend date of this dividend 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%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of The Hanover Insurance Group in the 2nd quarter valued at approximately $756,471,000. Alliancebernstein L.P. increased its position in The Hanover Insurance Group by 36.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider's stock worth $217,505,000 after purchasing an additional 339,896 shares in the last quarter. Dimensional Fund Advisors LP increased its position in The Hanover Insurance Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider's stock worth $168,179,000 after purchasing an additional 136,998 shares in the last quarter. AQR Capital Management LLC lifted its stake in The Hanover Insurance Group by 24.9% in the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider's stock valued at $174,322,000 after purchasing an additional 190,350 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider's stock valued at $143,416,000 after buying an additional 25,945 shares in the last quarter. Institutional investors own 86.61% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on THG. Citigroup reiterated an "outperform" rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Morgan Stanley raised their price target on The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Zacks Research raised The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Oppenheimer increased their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada increased their price objective on shares of The Hanover Insurance Group from $215.00 to $235.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, The Hanover Insurance Group has a consensus rating of "Moderate Buy" and a consensus price target of $225.71.
Get Our Latest Stock Report on The Hanover Insurance Group
The Hanover Insurance Group Company Profile
(
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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