The Hanover Insurance Group (NYSE:THG) Director Francisco Aristeguieta Sells 1,000 Shares

Key Points

• Insider sale: Hanover Insurance director Francisco Aristeguieta sold 1,000 shares at $195.37 each, totaling $195,370 and reducing his stake by about 19.8%.
• Strong quarterly results: The company reported Q1 EPS of $5.25, well above the $4.14 consensus, on revenue of $1.70 billion, also ahead of estimates.
• Capital return and outlook: The board approved a $700 million share repurchase program, while analysts remain broadly constructive with a “Moderate Buy” consensus and an average price target of $207.

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) Director Francisco Aristeguieta sold 1,000 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the transaction, the director owned 4,053 shares in the company, valued at $791,834.61. The trade was a 19.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

The Hanover Insurance Group Price Performance

THG traded up $0.84 on Tuesday, hitting $195.97. 251,620 shares of the company were exchanged, compared to its average volume of 326,140. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. The business's fifty day moving average is $180.74 and its 200 day moving average is $179.04. The Hanover Insurance Group, Inc. has a fifty-two week low of $160.70 and a fifty-two week high of $199.59. The firm has a market capitalization of $6.86 billion, a P/E ratio of 9.86 and a beta of 0.31.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $3.87 earnings per share. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hanover Insurance Group, Inc. will post 18.45 EPS for the current year.

The Hanover Insurance Group announced that its board has approved a stock 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

THG has been the topic of several research reports. Royal Bank Of Canada increased their price target on shares of The Hanover Insurance Group from $190.00 to $195.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods upped their price objective 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. Morgan Stanley set a $195.00 price objective on shares of The Hanover Insurance Group in a research note on Friday, May 1st. Piper Sandler upped their price objective on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Citigroup reissued an "outperform" rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $207.00.

Hedge Funds Weigh In On The Hanover Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its stake in The Hanover Insurance Group by 61.0% during the first quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider's stock worth $15,371,000 after purchasing an additional 33,495 shares during the period. NewEdge Advisors LLC raised its stake in The Hanover Insurance Group by 1,568.9% during the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider's stock worth $131,000 after purchasing an additional 706 shares during the period. Goldman Sachs Group Inc. raised its stake in The Hanover Insurance Group by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider's stock worth $38,052,000 after purchasing an additional 38,905 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in The Hanover Insurance Group by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider's stock worth $22,445,000 after purchasing an additional 7,712 shares during the period. Finally, Invesco Ltd. raised its stake in The Hanover Insurance Group by 7.7% during the second quarter. Invesco Ltd. now owns 283,484 shares of the insurance provider's stock worth $48,155,000 after purchasing an additional 20,294 shares during the period. Hedge funds and other institutional investors own 86.61% of the company's stock.

About The Hanover Insurance Group

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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