Insider Selling: The Hanover Insurance Group (NYSE:THG) EVP Sells $200,112.66 in Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Denise Lowsley sold 1,062 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $188.43, for a total value of $200,112.66. Following the completion of the sale, the executive vice president owned 3,883 shares of the company’s stock, valued at approximately $731,673.69. This trade represents a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

The Hanover Insurance Group Stock Down 0.3%

THG opened at $188.99 on Thursday. The business has a 50 day moving average price of $177.80 and a 200 day moving average price of $177.73. The Hanover Insurance Group, Inc. has a twelve month low of $160.70 and a twelve month high of $191.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $6.61 billion, a P/E ratio of 9.51 and a beta of 0.31.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a return on equity of 21.55% and a net margin of 10.77%.The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company earned $3.87 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts forecast that The Hanover Insurance Group, Inc. will post 18.45 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, March 13th. The Hanover Insurance Group’s payout ratio is currently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has approved a stock buyback program on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on THG shares. Wall Street Zen downgraded The Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Citigroup restated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Thursday, April 30th. Royal Bank Of Canada boosted their price objective on The Hanover Insurance Group from $190.00 to $195.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Piper Sandler boosted their price objective on The Hanover Insurance Group from $204.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Citizens Jmp boosted their price objective on The Hanover Insurance Group from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, The Hanover Insurance Group currently has an average rating of “Moderate Buy” and a consensus price target of $203.60.

Institutional Trading of The Hanover Insurance Group

Several institutional investors have recently bought and sold shares of THG. Millennium Management LLC boosted its stake in The Hanover Insurance Group by 61.0% in the 1st quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider’s stock valued at $15,371,000 after buying an additional 33,495 shares in the last quarter. NewEdge Advisors LLC boosted its stake in The Hanover Insurance Group by 1,568.9% in the 1st quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider’s stock valued at $131,000 after buying an additional 706 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in The Hanover Insurance Group by 21.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider’s stock valued at $38,052,000 after buying an additional 38,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in The Hanover Insurance Group by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider’s stock valued at $22,445,000 after buying an additional 7,712 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in The Hanover Insurance Group by 7.7% in the 2nd quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider’s stock valued at $48,155,000 after buying an additional 20,294 shares in the last quarter. Institutional investors and hedge funds 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.