The Hanover Insurance Group, Inc. Declares Quarterly Dividend of $0.90 (NYSE:THG)

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) announced a quarterly dividend on Monday, June 2nd, RTT News reports. Investors of record on Friday, June 13th will be paid a dividend of 0.90 per share by the insurance provider on Friday, June 27th. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, June 13th.

The Hanover Insurance Group has increased its dividend payment by an average of 6.6% per year over the last three years and has increased its dividend annually for the last 20 consecutive years. The Hanover Insurance Group has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect The Hanover Insurance Group to earn $15.75 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 22.9%.

The Hanover Insurance Group Trading Down 0.6%

The Hanover Insurance Group stock traded down $1.11 during trading hours on Tuesday, hitting $176.93. The stock had a trading volume of 304,236 shares, compared to its average volume of 211,736. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.25. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 15.14 and a beta of 0.44. The Hanover Insurance Group has a one year low of $119.66 and a one year high of $178.71. The business's 50 day simple moving average is $165.58 and its 200-day simple moving average is $162.15.

The Hanover Insurance Group (NYSE:THG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $3.87 EPS for the quarter, beating the consensus estimate of $3.58 by $0.29. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.55 billion. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $3.08 earnings per share. On average, equities analysts predict that The Hanover Insurance Group will post 14.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on THG shares. Piper Sandler increased their price target on The Hanover Insurance Group from $190.00 to $205.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Morgan Stanley increased their price target on The Hanover Insurance Group from $163.00 to $170.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wall Street Zen raised The Hanover Insurance Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods increased their price target on The Hanover Insurance Group from $171.00 to $173.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Finally, JMP Securities increased their price target on The Hanover Insurance Group from $175.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $179.50.

Insider Buying and Selling

In other The Hanover Insurance Group news, EVP Bryan J. Salvatore sold 10,526 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $166.60, for a total value of $1,753,631.60. Following the transaction, the executive vice president now owns 25,864 shares in the company, valued at approximately $4,308,942.40. This represents a 28.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Roche sold 301 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $175.00, for a total value of $52,675.00. Following the completion of the transaction, the chief executive officer now owns 124,414 shares in the company, valued at approximately $21,772,450. The trade was a 0.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,027 shares of company stock valued at $1,841,309 over the last 90 days. Company insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in The Hanover Insurance Group by 21.6% during the first quarter. Goldman Sachs Group Inc. now owns 218,753 shares of the insurance provider's stock worth $38,052,000 after acquiring an additional 38,905 shares during the period. Millennium Management LLC grew its position in shares of The Hanover Insurance Group by 61.0% in the first quarter. Millennium Management LLC now owns 88,367 shares of the insurance provider's stock valued at $15,371,000 after purchasing an additional 33,495 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of The Hanover Insurance Group by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,031 shares of the insurance provider's stock valued at $22,445,000 after purchasing an additional 7,712 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of The Hanover Insurance Group by 1,568.9% in the first quarter. NewEdge Advisors LLC now owns 751 shares of the insurance provider's stock valued at $131,000 after purchasing an additional 706 shares in the last quarter. Institutional investors own 86.61% of the company's stock.

About The Hanover Insurance Group

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.