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

Key Points

• Executive Vice President Willard Lee sold 9,946 shares for approximately $2.48 million, reducing his ownership by 62.36% to 6,004 shares.
• Hanover reported quarterly EPS of $5.15, beating estimates of $4.62, while revenue of $1.74 billion came in below the $1.81 billion consensus.
• The stock fell 0.4% to $248.97. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $235.

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) EVP Willard Lee sold 9,946 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $249.14, for a total value of $2,477,946.44. Following the sale, the executive vice president owned 6,004 shares of the company's stock, valued at approximately $1,495,836.56. This represents 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 link.

The Hanover Insurance Group Stock Down 0.4%

THG traded down $0.96 during trading on Thursday, reaching $248.97. 403,026 shares of the stock traded hands, compared to its average volume of 319,894. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 11.91 and a beta of 0.24. The Hanover Insurance Group, Inc. has a fifty-two week low of $166.54 and a fifty-two week 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 stock's 50-day simple moving average is $227.79 and its two-hundred day simple moving average is $201.24.

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

The Hanover Insurance Group Announces Dividend

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

Wall Street Analysts Forecast Growth

THG has been the topic of a number of research reports. Royal Bank Of Canada increased their price objective on 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. Morgan Stanley lifted their target price on shares of The Hanover Insurance Group from $230.00 to $235.00 and gave the company an "equal weight" rating in a research note on Friday, October 30th. Oppenheimer reissued an "outperform" rating and issued a $260.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Keefe, Bruyette & Woods boosted their target price on shares of The Hanover Insurance Group from $222.00 to $232.00 and gave the stock a "market perform" rating in a research report on Friday, September 18th. Finally, 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. Two 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $235.00.

Institutional Trading of The Hanover Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in The Hanover Insurance Group in the 2nd quarter valued at $756,471,000. Bank of New York Mellon Corp acquired a new stake in The Hanover Insurance Group in the 2nd quarter worth $69,481,000. Bank of America Corp DE bought a new position in shares of The Hanover Insurance Group during the 2nd quarter worth about $47,734,000. Primecap Management Co. CA bought a new position in shares of The Hanover Insurance Group during the 2nd quarter worth about $37,844,000. Finally, William Blair Investment Management LLC bought a new position in shares of The Hanover Insurance Group during the 2nd quarter worth about $33,034,000. Institutional investors and hedge funds own 86.61% of the company's stock.

About The Hanover Insurance Group

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.

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