The Hanover Insurance Group, Inc. Announces Quarterly Dividend of $0.85 (NYSE:THG)

The Hanover Insurance Group, Inc. (NYSE:THG) announced a quarterly dividend on Monday, June 3rd, NASDAQ reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.85 per share by the insurance provider on Friday, June 28th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Thursday, June 13th.

The Hanover Insurance Group has raised its dividend by an average of 7.4% per year over the last three years. The Hanover Insurance Group has a dividend payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Analysts expect The Hanover Insurance Group to earn $13.18 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 25.8%.

The Hanover Insurance Group Price Performance

Shares of THG opened at $127.46 on Tuesday. The Hanover Insurance Group has a 52-week low of $103.82 and a 52-week high of $138.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.39 and a current ratio of 0.39. The business’s 50 day moving average price is $131.76 and its two-hundred day moving average price is $129.40. The firm has a market cap of $4.58 billion, a PE ratio of 28.58 and a beta of 0.70.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $3.13 EPS for the quarter, beating the consensus estimate of $2.66 by $0.47. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. The Hanover Insurance Group had a return on equity of 7.00% and a net margin of 2.67%. On average, equities analysts anticipate that The Hanover Insurance Group will post 10.67 EPS for the current year.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,119 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $132.25, for a total value of $147,987.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Willard T. Lee sold 1,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $135.94, for a total transaction of $135,940.00. Following the transaction, the executive vice president now directly owns 4,398 shares in the company, valued at approximately $597,864.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jane D. Carlin sold 1,119 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

THG has been the subject of several recent research reports. TheStreet upgraded The Hanover Insurance Group from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Keefe, Bruyette & Woods upped their price target on The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Oppenheimer upped their price target on The Hanover Insurance Group from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Piper Sandler reissued an “overweight” rating and set a $147.00 price objective on shares of The Hanover Insurance Group in a report on Monday, April 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $150.00 price objective on shares of The Hanover Insurance Group in a report on Monday, April 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, The Hanover Insurance Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.00.

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.