Insider Selling: The Hanover Insurance Group, Inc. (NYSE:THG) EVP Sells 12,000 Shares of Stock

The Hanover Insurance Group, Inc. (NYSE:THG) EVP Jeffrey M. Farber sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the transaction, the executive vice president now owns 66,091 shares in the company, valued at $10,249,392.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

The Hanover Insurance Group Trading Down 1.5 %

NYSE:THG traded down $2.36 during trading hours on Monday, reaching $152.85. 189,493 shares of the stock were exchanged, compared to its average volume of 173,745. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 34.61 and a beta of 0.69. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group, Inc. has a twelve month low of $112.22 and a twelve month high of $155.60. The business has a 50-day moving average of $144.51 and a two-hundred day moving average of $135.15.

The Hanover Insurance Group (NYSE:THG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, meeting the consensus estimate of $1.88. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The Hanover Insurance Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.91) earnings per share. On average, equities analysts predict that The Hanover Insurance Group, Inc. will post 10.99 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s payout ratio is 76.23%.

Hedge Funds Weigh In On The Hanover Insurance Group

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of The Hanover Insurance Group during the third quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new position in shares of The Hanover Insurance Group during the second quarter worth about $25,000. Riverview Trust Co acquired a new stake in The Hanover Insurance Group in the first quarter valued at about $31,000. 1620 Investment Advisors Inc. purchased a new stake in The Hanover Insurance Group in the 2nd quarter valued at approximately $42,000. Finally, UMB Bank n.a. boosted its holdings in The Hanover Insurance Group by 35.4% in the 3rd quarter. UMB Bank n.a. now owns 417 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on THG. Bank of America upped their price objective on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of The Hanover Insurance Group in a report on Tuesday, October 15th. Keefe, Bruyette & Woods upped their price objective on The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Finally, Piper Sandler upped their price objective on The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, The Hanover Insurance Group has an average rating of “Moderate Buy” and a consensus target price of $160.20.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.