The Hanover Insurance Group (NYSE:THG) Issues Quarterly Earnings Results

The Hanover Insurance Group (NYSE:THG) released its quarterly earnings data on Wednesday. The insurance provider reported $3.05 EPS for the quarter, beating the consensus estimate of $2.65 by $0.40, Briefing.com reports. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.67 billion. The Hanover Insurance Group had a net margin of 5.92% and a return on equity of 16.09%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share.

The Hanover Insurance Group Stock Down 0.3 %

THG stock opened at $147.90 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $147.37 and its 200 day moving average is $136.32. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 14.67 and a beta of 0.69. The Hanover Insurance Group has a 1-year low of $112.22 and a 1-year high of $155.84.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 33.73%.

Insider Buying and Selling

In related news, SVP Warren E. Barnes sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $138.25, for a total value of $69,125.00. Following the transaction, the senior vice president now directly owns 3,013 shares in the company, valued at approximately $416,547.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Hanover Insurance Group news, SVP Warren E. Barnes sold 500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $138.25, for a total transaction of $69,125.00. Following the transaction, the senior vice president now directly owns 3,013 shares in the company, valued at $416,547.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey M. Farber sold 300 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total transaction of $45,000.00. Following the transaction, the executive vice president now owns 89,733 shares in the company, valued at $13,459,950. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,303 shares of company stock worth $4,372,203. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on THG. JMP Securities upped their price objective on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a report on Thursday. Piper Sandler upped their price objective on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a report on Friday. Bank of America increased their price target on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Finally, Oppenheimer increased their price target on shares of The Hanover Insurance Group from $165.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and an average target price of $168.20.

The Hanover Insurance Group Company Profile

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.