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

Key Points

• Insider selling: EVP Dennis Francis Kerrigan sold 6,551 THG shares for approximately $1.45 million, reducing his direct holdings by 35.31%; he also sold another 2,104 shares the following day.
• Strong quarterly results: Hanover reported quarterly EPS of $5.31, exceeding estimates of $3.84, while revenue reached $1.73 billion and increased 4.6% year over year.
• Shareholder returns and outlook: The company maintains a $0.95 quarterly dividend and authorized a $700 million share-repurchase plan. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $225.71.

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) EVP Dennis Francis Kerrigan sold 6,551 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $220.79, for a total value of $1,446,395.29. Following the sale, the executive vice president directly owned 12,003 shares in the company, valued at $2,650,142.37. This trade represents a 35.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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 shares were sold at an average price of $222.41, for a total transaction of $467,950.64.

The Hanover Insurance Group Trading Up 2.1%

Shares of The Hanover Insurance Group stock opened at $223.48 on Friday. The company has a fifty day simple moving average of $216.49 and a 200-day simple moving average of $193.15. The Hanover Insurance Group, Inc. has a 12-month low of $166.54 and a 12-month high of $236.07. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 10.67 and a beta of 0.27.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $5.31 EPS for the quarter, topping the consensus estimate of $3.84 by $1.47. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The Hanover Insurance Group's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $4.35 EPS. On average, equities analysts forecast that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current fiscal year.

The Hanover Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.95 per share. The ex-dividend date was Friday, June 12th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.7%. The Hanover Insurance Group's dividend payout ratio (DPR) is 18.14%.

The Hanover Insurance Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 13th that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on THG shares. Keefe, Bruyette & Woods lifted their price objective on shares of The Hanover Insurance Group from $220.00 to $222.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. BMO Capital Markets lowered shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and upped their target price for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. 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 report on Wednesday, July 15th. Oppenheimer raised their price objective on The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. Finally, Royal Bank Of Canada increased their price target on The Hanover Insurance Group from $215.00 to $235.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Two 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 Hanover Insurance Group presently has a consensus rating of "Moderate Buy" and an average price target of $225.71.

Institutional Investors Weigh In On The Hanover Insurance Group

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in The Hanover Insurance Group during the second quarter worth $756,471,000. Alliancebernstein L.P. lifted its position in shares of The Hanover Insurance Group by 36.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,280,418 shares of the insurance provider's stock worth $217,505,000 after buying an additional 339,896 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of The Hanover Insurance Group by 16.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 970,177 shares of the insurance provider's stock worth $168,179,000 after buying an additional 136,998 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of The Hanover Insurance Group by 24.9% in the 4th quarter. AQR Capital Management LLC now owns 953,781 shares of the insurance provider's stock valued at $174,322,000 after buying an additional 190,350 shares during the period. Finally, First Trust Advisors LP grew 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 buying an additional 25,945 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company's stock.

The Hanover Insurance Group Company Profile

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.

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