Insider Selling: The Hanover Insurance Group, Inc. (THG) Insider Sells 20,960 Shares of Stock
The Hanover Insurance Group, Inc. (NYSE:THG) insider J Kendall Huber sold 20,960 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $97.33, for a total value of $2,040,036.80. Following the completion of the sale, the insider now owns 34,079 shares in the company, valued at $3,316,909.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of The Hanover Insurance Group, Inc. (NYSE THG) traded up 0.79% during midday trading on Tuesday, hitting $98.20. The stock had a trading volume of 127,958 shares. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 21.09 and a beta of 1.14. The Hanover Insurance Group, Inc. has a 52-week low of $74.06 and a 52-week high of $98.49. The firm’s 50 day moving average price is $89.75 and its 200 day moving average price is $87.76.
The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.30 billion. The Hanover Insurance Group had a net margin of 3.95% and a return on equity of 5.83%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. On average, equities research analysts expect that The Hanover Insurance Group, Inc. will post $6.11 earnings per share for the current year.
Several equities research analysts have recently weighed in on THG shares. Zacks Investment Research downgraded The Hanover Insurance Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub upgraded The Hanover Insurance Group from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods set a $91.00 price target on The Hanover Insurance Group and gave the stock a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $93.00.
Several hedge funds have recently added to or reduced their stakes in THG. Teachers Advisors LLC raised its stake in The Hanover Insurance Group by 1.5% in the fourth quarter. Teachers Advisors LLC now owns 59,006 shares of the insurance provider’s stock valued at $5,370,000 after buying an additional 850 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of The Hanover Insurance Group during the fourth quarter worth about $730,000. Macquarie Group Ltd. raised its stake in shares of The Hanover Insurance Group by 8.5% in the fourth quarter. Macquarie Group Ltd. now owns 20,400 shares of the insurance provider’s stock worth $1,857,000 after buying an additional 1,600 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of The Hanover Insurance Group by 5.5% in the first quarter. Capstone Asset Management Co. now owns 7,286 shares of the insurance provider’s stock worth $656,000 after buying an additional 380 shares during the last quarter. Finally, Alpha Windward LLC purchased a new stake in shares of The Hanover Insurance Group during the first quarter worth about $476,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.
About The Hanover Insurance Group
The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).
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