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.
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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