The Hanover Insurance Group (NYSE:THG) CEO Sells $3,596,702.58 in Stock

Key Points

• CEO John Roche sold 14,422 shares for about $3.60 million, reducing his ownership by 8.71%; he retained 151,224 shares.
• The insurer reported quarterly EPS of $5.15, beating estimates of $4.62, while revenue of $1.74 billion fell short of the $1.81 billion consensus.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $236.62.

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) CEO John Roche sold 14,422 shares of the stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $249.39, for a total transaction of $3,596,702.58. Following the completion of the transaction, the chief executive officer owned 151,224 shares of the company's stock, valued at approximately $37,713,753.36. The trade was a 8.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

The Hanover Insurance Group Trading Down 0.3%

NYSE:THG opened at $247.86 on Friday. The Hanover Insurance Group, Inc. has a one year low of $166.54 and a one year high of $256.74. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.40 and a quick ratio of 0.40. The company's 50-day simple moving average is $230.21 and its 200 day simple moving average is $203.53. The firm has a market capitalization of $8.52 billion, a P/E ratio of 11.56 and a beta of 0.24.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its earnings results on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.53. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.63%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the firm earned $5.09 earnings per share. As a group, analysts forecast that The Hanover Insurance Group, Inc. will post 20.80 EPS for the current fiscal year.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, September 11th. The Hanover Insurance Group's payout ratio is 18.17%.

Institutional Investors Weigh In On The Hanover Insurance Group

Several institutional investors have recently modified their holdings of the business. Mather Group LLC. bought a new stake in The Hanover Insurance Group in the 3rd quarter worth about $29,000. Clearstead Trust LLC bought a new position in The Hanover Insurance Group during the 2nd quarter valued at about $36,000. Provenance Wealth Advisors LLC purchased a new stake in shares of The Hanover Insurance Group during the 3rd quarter valued at about $37,000. Elevation Wealth Partners LLC boosted its holdings in shares of The Hanover Insurance Group by 106.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 194 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 100 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of The Hanover Insurance Group in the second quarter worth approximately $51,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

THG has been the subject of several recent analyst reports. Jefferies Financial Group set a $248.00 price target on The Hanover Insurance Group in a research report on Friday, November 6th. Citizens Jmp increased 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. Weiss Ratings upgraded shares of The Hanover Insurance Group from a "buy (a)" rating to a "buy (a+)" rating in a research note on Thursday, October 8th. Royal Bank Of Canada lifted their target price on shares of The Hanover Insurance Group from $235.00 to $245.00 and gave the stock a "sector perform" rating in a report on Friday, October 30th. Finally, Morgan Stanley upped their target price on shares of The Hanover Insurance Group from $230.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, The Hanover Insurance Group presently has an average rating of "Moderate Buy" and an average price target of $236.62.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc. is a property and casualty insurer founded in 1852 as the Hanover Fire Insurance Company. Headquartered in Worcester, Massachusetts, it provides insurance products and services primarily in the United States. The company offers personal insurance, including coverage for homes and automobiles, as well as commercial insurance for businesses. Its commercial offerings include coverage for small and midsize businesses and specialty risks. The Hanover distributes its products mainly through independent insurance agents and brokers, working with them to serve individuals, families, and businesses.

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