The Hanover Insurance Group, Inc. (THG) Increases Dividend to $0.54 Per Share
The Hanover Insurance Group, Inc. (NYSE:THG) declared a quarterly dividend on Tuesday, December 5th, RTT News reports. Investors of record on Friday, December 15th will be paid a dividend of 0.54 per share by the insurance provider on Friday, December 29th. This represents a $2.16 annualized dividend and a yield of 2.03%. This is a boost from The Hanover Insurance Group’s previous quarterly dividend of $0.50.
The Hanover Insurance Group has raised its dividend payment by an average of 11.4% annually over the last three years and has raised its dividend every year for the last 5 years. The Hanover Insurance Group has a dividend payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect The Hanover Insurance Group to earn $7.15 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.0%.
Shares of The Hanover Insurance Group (THG) traded down $0.42 during trading hours on Tuesday, reaching $106.66. The company had a trading volume of 154,300 shares, compared to its average volume of 229,257. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market capitalization of $4,548.22, a PE ratio of 46.76 and a beta of 1.14. The Hanover Insurance Group has a 52 week low of $79.23 and a 52 week high of $108.64.
The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Wednesday, November 1st. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.74. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.29 billion. The Hanover Insurance Group had a return on equity of 3.35% and a net margin of 2.37%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. sell-side analysts anticipate that The Hanover Insurance Group will post 4.65 EPS for the current fiscal year.
In related news, insider Mark Lowell Keim sold 4,966 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $107.80, for a total value of $535,334.80. Following the completion of the transaction, the insider now owns 4,966 shares in the company, valued at approximately $535,334.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Joseph Welzenbach sold 4,723 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $106.09, for a total value of $501,063.07. Following the completion of the transaction, the insider now owns 29,244 shares of the company’s stock, valued at approximately $3,102,495.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,689 shares of company stock valued at $1,555,848. Company insiders own 1.08% of the company’s stock.
THG has been the topic of several recent research reports. Zacks Investment Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research report on Wednesday, November 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $91.00 price objective on shares of The Hanover Insurance Group in a report on Friday, October 6th. Finally, BidaskClub upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th.
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The Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).
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