Hanover Insurance Group Inc (NYSE:THG) – Research analysts at Langen Mcalenn boosted their FY2018 earnings estimates for Hanover Insurance Group in a research report issued on Tuesday. Langen Mcalenn analyst L. Greenberg now expects that the insurance provider will post earnings per share of $8.45 for the year, up from their previous estimate of $7.15.
A number of other research firms have also recently issued reports on THG. Zacks Investment Research cut Hanover Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $91.00 price target on shares of Hanover Insurance Group in a report on Friday, October 6th.
Hanover Insurance Group (NYSE:THG) last released its quarterly earnings results on Wednesday, November 1st. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.74. Hanover Insurance Group had a return on equity of 3.35% and a net margin of 2.37%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business posted $1.83 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Hanover Insurance Group’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, December 14th. Hanover Insurance Group’s payout ratio is currently 76.60%.
In related news, insider Mark Lowell Keim sold 4,966 shares of Hanover Insurance Group stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $107.80, for a total value of $535,334.80. Following the completion of the sale, the insider now directly owns 4,966 shares in the company, valued at $535,334.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Joseph Welzenbach sold 4,723 shares of Hanover Insurance Group stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $106.09, for a total value of $501,063.07. Following the completion of the sale, the insider now owns 29,244 shares of the company’s stock, valued at $3,102,495.96. The disclosure for this sale can be found here. Insiders sold 14,689 shares of company stock valued at $1,555,848 over the last ninety days. 1.08% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new stake in Hanover Insurance Group in the third quarter worth about $56,542,000. CNA Financial Corp acquired a new stake in Hanover Insurance Group in the third quarter worth about $791,000. Magnetar Financial LLC acquired a new stake in Hanover Insurance Group in the third quarter worth about $1,199,000. State of Tennessee Treasury Department acquired a new stake in Hanover Insurance Group in the third quarter worth about $1,939,000. Finally, Jane Street Group LLC acquired a new stake in Hanover Insurance Group in the third quarter worth about $265,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.
About Hanover Insurance Group
The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).
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