Hanover Insurance Group Inc (NYSE:THG) EVP Bryan J. Salvatore sold 688 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $130.39, for a total transaction of $89,708.32. Following the transaction, the executive vice president now directly owns 6,776 shares of the company’s stock, valued at approximately $883,522.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of THG traded up $0.89 during trading hours on Thursday, reaching $132.58. 3,157 shares of the company traded hands, compared to its average volume of 258,745. The stock’s fifty day moving average is $131.88 and its 200 day moving average is $124.52. The stock has a market cap of $5.21 billion, a P/E ratio of 19.51 and a beta of 0.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.40 and a current ratio of 0.40. Hanover Insurance Group Inc has a 1-year low of $104.59 and a 1-year high of $135.49.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.88 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.05. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Hanover Insurance Group had a net margin of 8.97% and a return on equity of 10.44%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 earnings per share. On average, equities research analysts predict that Hanover Insurance Group Inc will post 8.2 EPS for the current year.
Hanover Insurance Group announced that its Board of Directors has authorized a stock buyback program on Thursday, June 27th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
A number of research analysts have weighed in on THG shares. Zacks Investment Research raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Wednesday, August 7th. ValuEngine lowered shares of Hanover Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $131.90.
A number of institutional investors have recently modified their holdings of THG. Geode Capital Management LLC grew its stake in Hanover Insurance Group by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 424,142 shares of the insurance provider’s stock worth $49,527,000 after buying an additional 29,984 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Hanover Insurance Group by 1.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,109 shares of the insurance provider’s stock worth $6,748,000 after buying an additional 1,110 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Hanover Insurance Group by 18.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,438 shares of the insurance provider’s stock worth $2,219,000 after buying an additional 2,994 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Hanover Insurance Group by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 16,906 shares of the insurance provider’s stock worth $1,930,000 after buying an additional 209 shares during the last quarter. Finally, Dean Investment Associates LLC grew its stake in Hanover Insurance Group by 64.8% during the first quarter. Dean Investment Associates LLC now owns 7,030 shares of the insurance provider’s stock worth $803,000 after buying an additional 2,763 shares during the last quarter. 86.70% of the stock is currently owned by hedge funds and other institutional investors.
About 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 in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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