The Hanover Insurance Group (NYSE:THG) EVP Sells $2,477,946.44 in Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Willard Lee sold 9,946 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 6,004 shares in the company, valued at $1,495,836.56. The trade was a 62.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

The Hanover Insurance Group Stock Down 2.7%

The Hanover Insurance Group stock opened at $242.59 on Friday. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $256.74. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 11.60 and a beta of 0.24. 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 firm has a 50 day simple moving average of $228.50 and a 200 day simple moving average of $201.99.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.53. The business had revenue of $1.74 billion for 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 quarter in the previous year, the firm posted $5.09 EPS. On average, analysts predict that The Hanover Insurance Group, Inc. will post 20.80 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a $0.95 dividend. The ex-dividend date was Friday, September 11th. This represents a $3.80 annualized dividend and a dividend yield of 1.6%. The Hanover Insurance Group’s payout ratio is 18.17%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings raised The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a report on Thursday, October 8th. Royal Bank Of Canada lifted their target price on The Hanover Insurance Group from $235.00 to $245.00 and gave the company a “sector perform” rating in a report on Friday, October 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of The Hanover Insurance Group in a research report on Friday. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Citizens Jmp raised their price objective on shares of The Hanover Insurance Group from $240.00 to $250.00 and gave the company a “market outperform” rating in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.62.

Institutional Trading of The Hanover Insurance Group

Several institutional investors and hedge funds have recently modified their holdings of THG. BlackRock Inc. bought a new stake in shares of The Hanover Insurance Group during the 2nd quarter valued at about $756,471,000. Dimensional Fund Advisors LP increased its position in shares of 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 worth $168,179,000 after purchasing an additional 136,998 shares during the last quarter. First Trust Advisors LP increased its position in shares of The Hanover Insurance Group by 3.2% in the first quarter. First Trust Advisors LP now owns 827,320 shares of the insurance provider’s stock worth $143,416,000 after purchasing an additional 25,945 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in The Hanover Insurance Group in the second quarter valued at approximately $69,481,000. Finally, Bank of America Corp DE purchased a new stake in The Hanover Insurance Group in the second quarter valued at approximately $47,734,000. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

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.