Mark Joseph Welzenbach Sells 9,600 Shares of The Hanover Insurance Group, Inc. (NYSE:THG) Stock

The Hanover Insurance Group, Inc. (NYSE:THG) insider Mark Joseph Welzenbach sold 9,600 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $97.94, for a total value of $940,224.00. Following the completion of the sale, the insider now owns 34,121 shares of the company’s stock, valued at approximately $3,341,810.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of The Hanover Insurance Group, Inc. (NYSE THG) opened at 99.17 on Friday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 21.46 and a beta of 1.14. The firm’s 50-day moving average price is $92.09 and its 200-day moving average price is $88.49. The Hanover Insurance Group, Inc. has a 52 week low of $74.06 and a 52 week high of $100.33.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.30 billion. The Hanover Insurance Group had a return on equity of 5.83% and a net margin of 3.95%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. Equities research analysts expect that The Hanover Insurance Group, Inc. will post $6.16 EPS for the current fiscal year.

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THG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $81.00 target price on shares of The Hanover Insurance Group in a research note on Friday, May 5th. BidaskClub upgraded The Hanover Insurance Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Zacks Investment Research lowered The Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The Hanover Insurance Group presently has an average rating of “Buy” and an average price target of $93.00.

Several institutional investors have recently bought and sold shares of THG. World Asset Management Inc raised its position in The Hanover Insurance Group by 0.8% in the first quarter. World Asset Management Inc now owns 2,616 shares of the insurance provider’s stock worth $236,000 after buying an additional 22 shares during the last quarter. Teacher Retirement System of Texas raised its position in The Hanover Insurance Group by 0.7% in the second quarter. Teacher Retirement System of Texas now owns 3,394 shares of the insurance provider’s stock worth $301,000 after buying an additional 24 shares during the last quarter. Creative Planning raised its position in The Hanover Insurance Group by 1.8% in the second quarter. Creative Planning now owns 3,828 shares of the insurance provider’s stock worth $339,000 after buying an additional 69 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in The Hanover Insurance Group by 1.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,415 shares of the insurance provider’s stock worth $627,000 after buying an additional 83 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in The Hanover Insurance Group by 3.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,557 shares of the insurance provider’s stock worth $231,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company’s stock.

The Hanover Insurance Group Company Profile

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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