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Hanover Insurance Group's EVP Jeffrey Farber sells $1.15 million in stock

Published 03/12/2024, 08:28 am
THG
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Jeffrey M. Farber, Executive Vice President at Hanover Insurance Group, Inc. (NYSE:THG), recently executed a significant sale of company stock. According to a filing with the Securities and Exchange Commission, Farber disposed of a total of 6,987 shares over two transactions on November 27 and November 29, 2024. The timing is notable as THG shares have surged approximately 27% over the past six months and are trading near their 52-week high of $166.13.

The shares were sold at prices ranging from $165 to $165.27 per share, amounting to a total transaction value of approximately $1.15 million. Following these sales, Farber retains ownership of 42,090.594 shares in the company.

The transactions were conducted under a Rule 10b5-1 Trading Plan, which Farber adopted on February 16, 2023. This plan was designed to comply with the regulations in place at that time.

In other recent news, The Hanover Insurance Group has reported a strong performance in its third-quarter earnings call. The company's operating income stood at $3.5 per diluted share, with an operating return on equity of 14.4%. The combined ratio, excluding catastrophe losses, was an impressive 88.3%, outperforming the guidance of 90%-91%.

Personal Lines saw a growth of 6.8%, with auto insurance being a significant contributor. Despite higher expenses causing an increase in the combined ratio in the Specialty segment, the company remains optimistic for the future. Management anticipates net written premium growth over 6% in the fourth quarter and an expense ratio of approximately 30.9% for the full year.

These recent developments indicate a solid trajectory for The Hanover Insurance Group, backed by strategic pricing enhancements and targeted underwriting. The company expects to maintain a combined ratio below 90% and achieve modest positive growth in Policies in Force by the end of 2025. The firm's proactive approach, as highlighted by CEO Jack Roche, positions it well for continued growth and profitability.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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