The Hanover Insurance Group (NYSE:THG – Get Free Report) released its quarterly earnings results on Wednesday. The insurance provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.53, Zacks reports. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.81 billion.
The Hanover Insurance Group Trading Down 1.2%
Shares of The Hanover Insurance Group stock traded down $2.78 during trading on Wednesday, reaching $233.06. The company’s stock had a trading volume of 243,578 shares, compared to its average volume of 316,941. The Hanover Insurance Group has a 52-week low of $166.54 and a 52-week high of $240.97. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 11.12 and a beta of 0.23. The firm’s 50-day moving average is $225.53 and its two-hundred day moving average is $199.11. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.22.
The Hanover Insurance Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.95 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.6%. The Hanover Insurance Group’s dividend payout ratio is 18.14%.
Analyst Ratings Changes
THG has been the subject of several research analyst reports. Oppenheimer reissued an “outperform” rating and set a $260.00 price objective on shares of The Hanover Insurance Group in a research note on Tuesday, October 13th. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods raised their price target on The Hanover Insurance Group from $222.00 to $232.00 and gave the company a “market perform” rating in a report on Friday, September 18th. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research report on Friday, July 10th. Finally, Citizens Jmp boosted their price target on shares of The Hanover Insurance Group from $225.00 to $240.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.43.
Get Our Latest Analysis on THG
Insiders Place Their Bets
In other The Hanover Insurance Group news, Director Jane Carlin sold 1,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the sale, the director directly owned 2,270 shares in the company, valued at $525,505. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Dennis Kerrigan sold 6,551 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the sale, the executive vice president owned 12,003 shares of the company’s stock, valued at approximately $2,650,142.37. The trade was a 35.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,655 shares of company stock worth $2,145,846. 2.80% of the stock is owned by corporate insiders.
The Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.
The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.
The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.
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