The Hanover Insurance Group, Inc. (THG) to Issue Quarterly Dividend of $0.50
The Hanover Insurance Group, Inc. (NYSE:THG) declared a quarterly dividend on Tuesday, August 15th, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.50 per share by the insurance provider on Friday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.01%.
The Hanover Insurance Group has increased its dividend by an average of 11.4% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. The Hanover Insurance Group has a payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect The Hanover Insurance Group to earn $7.20 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 27.8%.
Shares of The Hanover Insurance Group (NYSE:THG) traded down 0.38% on Tuesday, hitting $99.21. The stock had a trading volume of 50,413 shares. The Hanover Insurance Group has a 12 month low of $74.06 and a 12 month high of $100.33. The stock has a market cap of $4.20 billion, a P/E ratio of 21.46 and a beta of 1.14. The firm has a 50 day moving average of $92.48 and a 200 day moving average of $88.66.
The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.30 billion. The Hanover Insurance Group had a return on equity of 5.83% and a net margin of 3.95%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 earnings per share. On average, equities analysts forecast that The Hanover Insurance Group will post $6.16 earnings per share for the current fiscal year.
In other The Hanover Insurance Group news, insider J Kendall Huber sold 20,960 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $97.33, for a total transaction of $2,040,036.80. Following the completion of the sale, the insider now directly owns 34,079 shares in the company, valued at $3,316,909.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John C. Roche sold 17,500 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $96.00, for a total value of $1,680,000.00. Following the sale, the insider now owns 42,524 shares of the company’s stock, valued at $4,082,304. The disclosure for this sale can be found here. Insiders have sold 48,060 shares of company stock valued at $4,660,261 over the last 90 days. 1.08% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on THG. Keefe, Bruyette & Woods set a $91.00 price objective on The Hanover Insurance Group and gave the company a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded The Hanover Insurance Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, BidaskClub upgraded The Hanover Insurance Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The Hanover Insurance Group presently has a consensus rating of “Buy” and a consensus price target of $93.00.
About The Hanover Insurance Group
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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