The Hanover Insurance Group, Inc. (NYSE:THG) Director Jane D. Carlin Sells 1,246 Shares of Stock

Posted by Defense World Staff on Aug 9th, 2023

The Hanover Insurance Group, Inc. (NYSE:THG – Get Free Report) Director Jane D. Carlin sold 1,246 shares of The Hanover Insurance Group stock in a transaction on Monday, August 7th. The shares were sold at an average price of $114.04, for a total value of $142,093.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

The Hanover Insurance Group Trading Down 1.4 %

NYSE THG opened at $111.97 on Wednesday. The business’s 50-day moving average price is $112.76 and its two-hundred day moving average price is $123.03. The Hanover Insurance Group, Inc. has a 12 month low of $108.71 and a 12 month high of $148.78. The firm has a market capitalization of $4.00 billion, a PE ratio of -43.07, a price-to-earnings-growth ratio of 1.00 and a beta of 0.67. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35.

The Hanover Insurance Group (NYSE:THG – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported ($1.91) EPS for the quarter, meeting analysts’ consensus estimates of ($1.91). The Hanover Insurance Group had a negative return on equity of 2.83% and a negative net margin of 1.60%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $2.32 EPS. The business’s revenue was up 16.3% on a year-over-year basis. On average, analysts expect that The Hanover Insurance Group, Inc. will post 3.05 EPS for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were given a dividend of $0.81 per share. The ex-dividend date was Thursday, June 15th. This represents a $3.24 annualized dividend and a dividend yield of 2.89%. The Hanover Insurance Group’s payout ratio is -124.62%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aspire Private Capital LLC purchased a new stake in shares of The Hanover Insurance Group in the first quarter worth approximately $12,850,000,000. Advisors Asset Management Inc. grew its holdings in The Hanover Insurance Group by 129.8% during the fourth quarter. Advisors Asset Management Inc. now owns 216 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 122 shares during the period. Ameritas Advisory Services LLC bought a new position in The Hanover Insurance Group during the first quarter valued at $27,000. GPS Wealth Strategies Group LLC bought a new position in The Hanover Insurance Group during the first quarter valued at $40,000. Finally, Belpointe Asset Management LLC bought a new position in shares of The Hanover Insurance Group in the fourth quarter worth $53,000. Institutional investors own 85.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com assumed coverage on The Hanover Insurance Group in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods reduced their price target on The Hanover Insurance Group from $148.00 to $141.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 18th. TheStreet lowered The Hanover Insurance Group from a “b-” rating to a “c+” rating in a research report on Tuesday, May 9th. Piper Sandler raised The Hanover Insurance Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $155.00 to $153.00 in a research report on Thursday, July 6th. Finally, Bank of America lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $142.00 to $130.00 in a research report on Thursday, May 18th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, The Hanover Insurance Group presently has an average rating of “Hold” and an average price target of $148.43.

View Our Latest Stock Report on THG

About The Hanover Insurance Group

(Get Free Report)

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.