Key Points
- EVP Willard Lee sold 9,946 shares of The Hanover Insurance Group for about $2.48 million at an average price of $249.14, reducing his direct stake by 62.36% to 6,004 shares.
- The insurer reported quarterly EPS of $5.15, beating estimates of $4.62, while revenue of $1.74 billion came in below the $1.81 billion consensus.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $235; the company’s quarterly dividend is $0.95 per share.
The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) EVP Willard Lee sold 9,946 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $249.14, for a total transaction of $2,477,946.44. Following the completion of the sale, the executive vice president directly owned 6,004 shares in the company, valued at approximately $1,495,836.56. The trade was a 62.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
The Hanover Insurance Group Stock Performance
Shares of THG opened at $248.97 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.23. The stock has a market cap of $8.56 billion, a P/E ratio of 11.91 and a beta of 0.24. The company has a 50-day moving average of $228.20 and a two-hundred day moving average of $201.64. The Hanover Insurance Group, Inc. has a 12-month low of $166.54 and a 12-month high of $256.74.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.53. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.63%. During the same quarter in the prior year, the firm earned $5.09 earnings per share. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 20.80 EPS for the current fiscal year.
The Hanover Insurance Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, September 11th. The Hanover Insurance Group's payout ratio is currently 18.17%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on THG shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of The Hanover Insurance Group in a research note on Friday. Zacks Research raised The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on The Hanover Insurance Group from $235.00 to $245.00 and gave the stock a "sector perform" rating in a report on Friday, October 30th. Morgan Stanley boosted their price target on The Hanover Insurance Group from $230.00 to $235.00 and gave the stock an "equal weight" rating in a report on Friday, October 30th. Finally, Citigroup restated a "market outperform" rating on shares of The Hanover Insurance Group in a research report on Thursday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $235.00.
View Our Latest Stock Analysis on THG
Institutional Investors Weigh In On The Hanover Insurance Group
Several hedge funds have recently modified their holdings of THG. BlackRock Inc. purchased a new position in shares of The Hanover Insurance Group during the second quarter valued at approximately $756,471,000. Dimensional Fund Advisors LP boosted its position in The Hanover Insurance Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider's stock worth $168,179,000 after acquiring an additional 136,998 shares during the last quarter. First Trust Advisors LP boosted its position in The Hanover Insurance Group by 3.2% during the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider's stock worth $143,416,000 after acquiring an additional 25,945 shares during the last quarter. Bank of New York Mellon Corp grew its stake in The Hanover Insurance Group by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 338,870 shares of the insurance provider's stock worth $58,743,000 after acquiring an additional 5,219 shares during the period. Finally, Bank of America Corp DE grew its stake in The Hanover Insurance Group by 10.1% in the 1st quarter. Bank of America Corp DE now owns 251,130 shares of the insurance provider's stock worth $43,533,000 after acquiring an additional 22,978 shares during the period. 86.61% of the stock is owned by institutional investors and hedge funds.
The Hanover Insurance Group Company Profile
(
Get Free Report)
The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.
The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers' compensation and other specialized coverages.
The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.
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