The Hanover Insurance Group (NYSE:THG) Posts Earnings Results, Beats Estimates By $0.40 EPS

The Hanover Insurance Group (NYSE:THG) announced its quarterly earnings results on Wednesday. The insurance provider reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.40, Briefing.com reports. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $148.33 on Friday. The firm has a fifty day simple moving average of $147.12 and a two-hundred day simple moving average of $136.23. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group has a twelve month low of $112.22 and a twelve month high of $155.84. The company has a market capitalization of $5.34 billion, a PE ratio of 14.72 and a beta of 0.69.

The Hanover Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s payout ratio is presently 33.73%.

Analyst Upgrades and Downgrades

THG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price on The Hanover Insurance Group from $142.00 to $144.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Piper Sandler boosted their price objective on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America increased their target price on shares of The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, JMP Securities boosted their price target on shares of The Hanover Insurance Group from $160.00 to $175.00 and gave the company a “market outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, The Hanover Insurance Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.20.

Insider Activity

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

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.