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

The Hanover Insurance Group (NYSE:THG) announced its earnings results on Wednesday. The insurance provider reported $3.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business posted $0.19 earnings per share. The Hanover Insurance Group’s quarterly revenue was up 3.2% on a year-over-year basis.

The Hanover Insurance Group Price Performance

Shares of THG traded up $0.63 during trading hours on Thursday, reaching $152.06. 122,788 shares of the company’s stock traded hands, compared to its average volume of 172,871. 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 firm’s 50 day simple moving average is $147.12 and its 200-day simple moving average is $136.23. The stock has a market cap of $5.47 billion, a PE ratio of 15.00 and a beta of 0.69. The Hanover Insurance Group has a 12 month low of $112.22 and a 12 month high of $155.84.

The Hanover Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.24%. The Hanover Insurance Group’s dividend payout ratio (DPR) is currently 33.73%.

Analysts Set New Price Targets

Several brokerages have commented on THG. Bank of America boosted their price objective on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Piper Sandler boosted their price objective on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods increased their target price on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $160.00 price objective on shares of The Hanover Insurance Group in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.20.

Insider Buying and Selling at The Hanover Insurance Group

In related news, Director Kathy S. Lane sold 1,884 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total value of $252,889.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other The Hanover Insurance Group news, Director Kathy S. Lane sold 1,884 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total transaction of $252,889.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Warren E. Barnes sold 500 shares of The Hanover Insurance Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $138.25, for a total value of $69,125.00. Following the completion of the transaction, the senior vice president now owns 3,013 shares in the company, valued at approximately $416,547.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,303 shares of company stock worth $4,372,203 over the last three months. 2.40% of the stock is owned by insiders.

About The Hanover Insurance Group

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.