The Hanover Insurance Group (NYSE:THG) Posts Earnings Results, Beats Expectations By $0.40 EPS

The Hanover Insurance Group (NYSE:THG) issued its quarterly earnings results on Wednesday. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.40, Briefing.com reports. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business posted $0.19 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year.

The Hanover Insurance Group Stock Up 0.4 %

Shares of THG traded up $0.63 during mid-day trading on Thursday, hitting $152.06. 122,788 shares of the company’s stock were exchanged, compared to its average volume of 172,871. The firm has a fifty day moving average of $147.12 and a two-hundred day moving average of $136.23. The Hanover Insurance Group has a twelve month low of $112.22 and a twelve month high of $155.84. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 15.00 and a beta of 0.69. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.85 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.40 annualized dividend and a yield of 2.24%. The Hanover Insurance Group’s dividend payout ratio is presently 33.73%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. 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 research note on Thursday, October 10th. JMP Securities reissued a “market outperform” rating and issued a $160.00 price objective on shares of The Hanover Insurance Group in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and an average price target of $160.20.

Insider Transactions at The Hanover Insurance Group

In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total value of $252,889.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Warren E. Barnes sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 of the company’s stock, valued at $416,547.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total transaction of $252,889.32. The disclosure for this sale can be found here. Insiders have sold a total of 29,303 shares of company stock worth $4,372,203 in the last 90 days. 2.40% of the stock is owned by insiders.

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.