John Roche Sells 8,358 Shares of The Hanover Insurance Group (NYSE:THG) Stock

Key Points

• CEO John Roche sold 8,358 shares of The Hanover Insurance Group at an average price of $193.74, generating about $1.62 million and reducing his ownership by 5.6%.
• The company reported strong first-quarter results, with EPS of $5.25 versus the $4.14 estimate and revenue of $1.70 billion, both ahead of analyst expectations.
• Hanover also authorized a $700 million share buyback and continues to support shareholders with a quarterly dividend of $0.95, implying a 1.9% annualized yield.

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) CEO John Roche sold 8,358 shares of The Hanover Insurance Group stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.74, for a total transaction of $1,619,278.92. Following the completion of the sale, the chief executive officer owned 141,011 shares in the company, valued at approximately $27,319,471.14. This represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

The Hanover Insurance Group Price Performance

NYSE THG traded up $1.09 on Thursday, reaching $195.65. The company had a trading volume of 279,165 shares, compared to its average volume of 328,286. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.85 billion, a PE ratio of 9.85 and a beta of 0.31. The firm's 50 day moving average price is $179.45 and its 200 day moving average price is $178.55. The Hanover Insurance Group, Inc. has a 12 month low of $160.70 and a 12 month high of $199.59.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.14 by $1.11. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.58 billion. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The Hanover Insurance Group's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.87 EPS. As a group, equities analysts predict that The Hanover Insurance Group, Inc. will post 18.45 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, March 27th. Stockholders of record on Friday, March 13th were issued a $0.95 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.9%. The Hanover Insurance Group's dividend payout ratio is presently 19.12%.

The Hanover Insurance Group declared that its Board of Directors has approved a share buyback program on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BMO Capital Markets lowered shares of The Hanover Insurance Group from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $194.00 to $203.00 in a report on Tuesday. Oppenheimer lifted their price objective on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday. Piper Sandler upped their price target on shares of The Hanover Insurance Group from $204.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods upped their price target on shares of The Hanover Insurance Group from $208.00 to $211.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered The Hanover Insurance Group from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, The Hanover Insurance Group currently has an average rating of "Moderate Buy" and a consensus price target of $205.86.

Hedge Funds Weigh In On The Hanover Insurance Group

Hedge funds and other institutional investors have recently modified their holdings of the business. JPL Wealth Management LLC purchased a new position in shares of The Hanover Insurance Group in the third quarter worth about $26,000. Community Bank N.A. purchased a new position in shares of The Hanover Insurance Group in the third quarter worth about $27,000. McMillan Office Inc. purchased a new position in shares of The Hanover Insurance Group in the fourth quarter worth about $31,000. Entrust Financial LLC purchased a new position in shares of The Hanover Insurance Group in the fourth quarter worth about $33,000. Finally, Clearstead Advisors LLC lifted its stake in shares of The Hanover Insurance Group by 300.0% in the third quarter. Clearstead Advisors LLC now owns 200 shares of the insurance provider's stock worth $36,000 after buying an additional 150 shares in the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.