Dennis Francis Kerrigan Sells 6,551 Shares of The Hanover Insurance Group (NYSE:THG) Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Dennis Francis Kerrigan sold 6,551 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total value of $1,446,395.29. Following the completion of the transaction, the executive vice president directly owned 12,003 shares in the company, valued at approximately $2,650,142.37. The trade was a 35.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dennis Francis Kerrigan also recently made the following trade(s):

• On Thursday, August 20th, Dennis Francis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock. The stock was sold at an average price of $222.41, for a total value of $467,950.64.

The Hanover Insurance Group Stock Performance

Shares of THG opened at $223.23 on Friday. 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 stock has a 50-day moving average of $217.00 and a two-hundred day moving average of $193.36. The stock has a market cap of $7.77 billion, a P/E ratio of 10.66 and a beta of 0.27. The Hanover Insurance Group, Inc. has a one year low of $166.54 and a one year high of $236.07.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a return on equity of 21.72% and a net margin of 11.17%.The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company earned $4.35 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts predict that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current year.

The Hanover Insurance Group declared that its board has initiated a share 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 purchase up to 10.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is 18.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday. Piper Sandler downgraded shares of The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 target price for the company. in a research report on Wednesday, July 15th. Citigroup reaffirmed an “outperform” rating on shares of The Hanover Insurance Group in a report on Friday, July 10th. Finally, Citizens Jmp increased their price target on The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.71.

Institutional Investors Weigh In On The Hanover Insurance Group

Several hedge funds have recently bought and sold shares of THG. Legato Capital Management LLC purchased a new stake in shares of The Hanover Insurance Group during the 4th quarter worth about $1,238,000. Intech Investment Management LLC purchased a new position in shares of The Hanover Insurance Group in the 4th quarter valued at about $4,926,000. UBS Group AG raised its holdings in The Hanover Insurance Group by 58.7% in the 4th quarter. UBS Group AG now owns 149,300 shares of the insurance provider’s stock worth $27,288,000 after purchasing an additional 55,220 shares during the period. Norges Bank purchased a new position in The Hanover Insurance Group during the fourth quarter worth approximately $83,817,000. Finally, Dockside LLC acquired a new stake in The Hanover Insurance Group in the fourth 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

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.