The Hanover Insurance Group (NYSE:THG) Issues Quarterly Earnings Results, Hits Expectations

The Hanover Insurance Group (NYSE:THG) issued its earnings results on Wednesday. The insurance provider reported $1.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.88, Briefing.com reports. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. The Hanover Insurance Group had a net margin of 2.67% and a return on equity of 7.00%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.91) earnings per share.

The Hanover Insurance Group Stock Down 2.8 %

Shares of NYSE:THG traded down $3.84 during trading on Thursday, reaching $133.65. 65,864 shares of the company traded hands, compared to its average volume of 172,549. The firm has a fifty day simple moving average of $128.03 and a 200 day simple moving average of $130.34. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.31. The Hanover Insurance Group has a 1-year low of $103.82 and a 1-year high of $139.25. The firm has a market cap of $4.80 billion, a P/E ratio of 30.12 and a beta of 0.68.

The Hanover Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $3.40 dividend on an annualized basis and a yield of 2.54%. The Hanover Insurance Group’s payout ratio is 76.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on THG. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 target price on shares of The Hanover Insurance Group in a report on Monday, April 15th. Oppenheimer lifted their target price on shares of The Hanover Insurance Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of The Hanover Insurance Group from $137.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average price target of $146.00.

Insider Transactions at The Hanover Insurance Group

In other news, Director Jane D. Carlin sold 1,119 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $132.25, for a total transaction of $147,987.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jane D. Carlin sold 1,119 shares of The Hanover Insurance Group stock in a transaction on Friday, May 24th. The shares were sold at an average price of $132.25, for a total value of $147,987.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Willard T. Lee sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $135.94, for a total value of $135,940.00. Following the transaction, the executive vice president now owns 4,398 shares in the company, valued at $597,864.12. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company 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.