The Hanover Insurance Group (NYSE:THG) Releases Quarterly Earnings Results, Beats Expectations By $0.40 EPS

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

The Hanover Insurance Group Trading Up 0.5 %

Shares of The Hanover Insurance Group stock traded up $0.80 during trading hours on Thursday, hitting $152.23. The company’s stock had a trading volume of 146,384 shares, compared to its average volume of 172,982. The company has a market capitalization of $5.48 billion, a PE ratio of 15.09 and a beta of 0.69. The stock has a 50 day moving average of $147.12 and a 200 day moving average of $136.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.40. The Hanover Insurance Group has a 12 month low of $112.22 and a 12 month high of $155.84.

The Hanover Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.85 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 33.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on THG. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday, October 15th. Bank of America raised their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on shares of The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Finally, Piper Sandler upped their target price on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, The Hanover Insurance Group presently has an average rating of “Moderate Buy” and a consensus price target of $160.20.

Insider Buying and Selling

In related news, EVP Jeffrey M. Farber sold 12,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $155.08, for a total transaction of $1,860,960.00. Following the sale, the executive vice president now owns 66,091 shares of the company’s stock, valued at $10,249,392.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kathy S. Lane sold 1,884 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $134.23, for a total transaction of $252,889.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey M. Farber sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $155.08, for a total value of $1,860,960.00. Following the completion of the transaction, the executive vice president now directly owns 66,091 shares of the company’s stock, valued at approximately $10,249,392.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,303 shares of company stock worth $4,372,203. Corporate insiders own 2.40% of the company’s stock.

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.