Hanover Insurance Group Inc (NYSE:THG) EVP Bryan J. Salvatore sold 688 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $130.39, for a total value of $89,708.32. Following the sale, the executive vice president now directly owns 6,776 shares in the company, valued at approximately $883,522.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE THG traded up $0.89 during trading on Thursday, hitting $132.58. The company had a trading volume of 3,157 shares, compared to its average volume of 258,745. The company has a market cap of $5.21 billion, a P/E ratio of 19.51 and a beta of 0.58. Hanover Insurance Group Inc has a 52 week low of $104.59 and a 52 week high of $135.49. The business’s 50-day moving average is $131.88 and its 200 day moving average is $124.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40.
Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.05. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Hanover Insurance Group had a return on equity of 10.44% and a net margin of 8.97%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 earnings per share. On average, research analysts expect that Hanover Insurance Group Inc will post 8.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.81%. Hanover Insurance Group’s dividend payout ratio is currently 35.35%.
Hanover Insurance Group declared that its board has initiated a stock buyback plan on Thursday, June 27th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of THG. Geode Capital Management LLC increased its holdings in shares of Hanover Insurance Group by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 424,142 shares of the insurance provider’s stock valued at $49,527,000 after buying an additional 29,984 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Hanover Insurance Group by 1.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 59,109 shares of the insurance provider’s stock valued at $6,748,000 after buying an additional 1,110 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Hanover Insurance Group by 18.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,438 shares of the insurance provider’s stock valued at $2,219,000 after buying an additional 2,994 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Hanover Insurance Group by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,906 shares of the insurance provider’s stock valued at $1,930,000 after buying an additional 209 shares in the last quarter. Finally, Dean Investment Associates LLC increased its holdings in shares of Hanover Insurance Group by 64.8% in the first quarter. Dean Investment Associates LLC now owns 7,030 shares of the insurance provider’s stock valued at $803,000 after buying an additional 2,763 shares in the last quarter. 86.70% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on THG shares. ValuEngine cut Hanover Insurance Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $131.90.
About Hanover Insurance Group
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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