The Hanover Insurance Group (NYSE:THG) Posts Earnings Results, Beats Expectations By $0.53 EPS

The Hanover Insurance Group (NYSE:THG) issued its quarterly earnings results on Wednesday. The insurance provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.53, Zacks reports. The Hanover Insurance Group had a net margin of 10.97% and a return on equity of 21.39%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the business earned $5.09 EPS.

The Hanover Insurance Group Stock Up 2.1%

THG opened at $240.15 on Friday. The Hanover Insurance Group has a 12 month low of $166.54 and a 12 month high of $240.97. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $226.06 and its 200-day moving average price is $199.71. The company has a market cap of $8.36 billion, a P/E ratio of 11.50 and a beta of 0.23.

The Hanover Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 11th. The Hanover Insurance Group’s dividend payout ratio (DPR) is 18.14%.

Insider Buying and Selling

In other news, EVP Dennis Kerrigan sold 6,551 shares of The Hanover Insurance Group stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $220.79, for a total transaction of $1,446,395.29. Following the sale, the executive vice president owned 12,003 shares of the company’s stock, valued at approximately $2,650,142.37. The trade was a 35.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jane Carlin sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $231.50, for a total value of $231,500.00. Following the completion of the transaction, the director owned 2,270 shares of the company’s stock, valued at approximately $525,505. The trade was a 30.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,655 shares of company stock worth $2,145,846 over the last ninety days. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

THG has been the subject of several recent analyst reports. Weiss Ratings upgraded The Hanover Insurance Group from a “buy (a)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. Oppenheimer reissued an “outperform” rating and issued a $260.00 price objective on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Morgan Stanley dropped their price target on The Hanover Insurance Group from $240.00 to $230.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Zacks Research upgraded The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price objective for the company. in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, The Hanover Insurance Group has an average rating of “Moderate Buy” and an average price target of $232.86.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.