The Hanover Insurance Group, Inc. (NYSE:THG) to Issue Quarterly Dividend of $0.85

The Hanover Insurance Group, Inc. (NYSE:THG - Get Free Report) announced a quarterly dividend on Tuesday, September 3rd, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.85 per share by the insurance provider on Friday, September 27th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, September 13th.

The Hanover Insurance Group has raised its dividend payment by an average of 7.4% annually over the last three years and has raised its dividend every year for the last 19 years. The Hanover Insurance Group has a payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect The Hanover Insurance Group to earn $13.54 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 25.1%.

The Hanover Insurance Group Stock Up 0.1 %

Shares of NYSE:THG traded up $0.09 during trading on Wednesday, reaching $147.30. 125,559 shares of the company traded hands, compared to its average volume of 172,703. The firm has a fifty day simple moving average of $133.23 and a 200 day simple moving average of $131.45. The firm has a market cap of $5.29 billion, a P/E ratio of 33.03 and a beta of 0.68. The Hanover Insurance Group has a 1-year low of $103.82 and a 1-year high of $149.25. 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 (NYSE:THG - Get Free Report) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.88. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. The Hanover Insurance Group had a net margin of 4.44% and a return on equity of 12.42%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.91) EPS. Analysts anticipate that The Hanover Insurance Group will post 10.85 earnings per share for the current fiscal year.

Insider Buying and Selling

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 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 at the SEC website. Also, SVP Warren E. Barnes sold 500 shares of The Hanover Insurance Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $138.25, for a total transaction of $69,125.00. Following the completion of the transaction, the senior vice president now owns 3,013 shares in the company, valued at approximately $416,547.25. The disclosure for this sale can be found here. Insiders have sold 10,852 shares of company stock worth $1,541,491 in the last quarter. 2.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JMP Securities lifted their target price on shares of The Hanover Insurance Group from $150.00 to $160.00 and gave the company a "market outperform" rating in a research note on Thursday, August 1st. Bank of America cut their price target on shares of The Hanover Insurance Group from $161.00 to $158.00 and set a "neutral" rating on the stock in a report on Tuesday, August 6th. Piper Sandler raised their price target on shares of The Hanover Insurance Group from $147.00 to $162.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.80.

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.