Key Points
- CEO John Roche sold 14,422 shares for about $3.60 million at an average price of $249.39, reducing his direct stake by 8.71% to 151,224 shares.
- Hanover reported quarterly EPS of $5.15, beating the $4.62 consensus, while revenue of $1.74 billion fell short of analysts’ $1.81 billion estimate.
- Analysts give THG a consensus “Moderate Buy” rating, with an average price target of $236.62; shares traded at $248.30 in the report.
The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) CEO John Roche sold 14,422 shares of The Hanover Insurance Group stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $249.39, for a total transaction of $3,596,702.58. Following the completion of the sale, the chief executive officer directly owned 151,224 shares in the company, valued at approximately $37,713,753.36. The trade was a 8.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
The Hanover Insurance Group Stock Performance
Shares of The Hanover Insurance Group stock traded up $0.31 on Friday, reaching $248.30. 155,599 shares of the stock were exchanged, compared to its average volume of 309,720. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $256.74. 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 business has a fifty day moving average price of $230.54 and a two-hundred day moving average price of $203.92. The firm has a market capitalization of $8.53 billion, a PE ratio of 11.87 and a beta of 0.24.
The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.53. The firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the company posted $5.09 earnings per share. As a group, research analysts anticipate that The Hanover Insurance Group, Inc. will post 20.80 earnings per share for the current fiscal year.
The Hanover Insurance Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a dividend of $0.95 per share. The ex-dividend date was Friday, September 11th. This represents a $3.80 annualized dividend and a yield of 1.5%. The Hanover Insurance Group's payout ratio is presently 18.17%.
Analyst Ratings Changes
THG has been the subject of a number of analyst reports. Zacks Research raised The Hanover Insurance Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $248.00 price target on The Hanover Insurance Group in a research note on Friday, November 6th. Keefe, Bruyette & Woods restated a "market perform" rating on shares of The Hanover Insurance Group in a research note on Friday, November 6th. Citizens Jmp upped their price objective on The Hanover Insurance Group from $240.00 to $250.00 and gave the stock a "market outperform" rating in a report on Thursday, October 29th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $260.00 price objective on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $236.62.
Read Our Latest Research Report on THG
Institutional Trading of The Hanover Insurance Group
Several hedge funds and other institutional investors have recently made changes to their positions in THG. BlackRock Inc. acquired a new position in The Hanover Insurance Group during the second quarter worth about $756,471,000. Dimensional Fund Advisors LP increased its holdings in The Hanover Insurance Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider's stock valued at $168,179,000 after buying an additional 136,998 shares in the last quarter. First Trust Advisors LP lifted its position in shares of The Hanover Insurance Group by 3.2% during the 1st quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider's stock valued at $143,416,000 after acquiring an additional 25,945 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at approximately $69,481,000. Finally, Bank of America Corp DE acquired a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at approximately $47,734,000. Institutional investors and hedge funds own 86.61% of the company's stock.
The Hanover Insurance Group Company Profile
(
Get Free Report)
The Hanover Insurance Group, Inc. is a property and casualty insurer founded in 1852 as the Hanover Fire Insurance Company. Headquartered in Worcester, Massachusetts, it provides insurance products and services primarily in the United States. The company offers personal insurance, including coverage for homes and automobiles, as well as commercial insurance for businesses. Its commercial offerings include coverage for small and midsize businesses and specialty risks. The Hanover distributes its products mainly through independent insurance agents and brokers, working with them to serve individuals, families, and businesses.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
