The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) announced a quarterly dividend on Tuesday, September 6th, Zacks reports. Investors of record on Friday, September 16th will be paid a dividend of 0.75 per share by the insurance provider on Friday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 15th.
The Hanover Insurance Group has decreased its dividend by an average of 25.8% per year over the last three years and has increased its dividend annually for the last 18 consecutive years. The Hanover Insurance Group has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect The Hanover Insurance Group to earn $11.38 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 26.4%.
Get The Hanover Insurance Group alerts:The Hanover Insurance Group Trading Up 1.0 %
The Hanover Insurance Group stock traded up $1.34 during trading hours on Wednesday, reaching $130.24. 771 shares of the company's stock traded hands, compared to its average volume of 118,184. The Hanover Insurance Group has a fifty-two week low of $121.69 and a fifty-two week high of $155.55. The firm's 50 day moving average is $137.75 and its 200-day moving average is $142.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.74 and a beta of 0.72.
Analysts Set New Price Targets
A number of brokerages have issued reports on THG. Morgan Stanley reduced their price objective on shares of The Hanover Insurance Group from $155.00 to $145.00 and set an "equal weight" rating on the stock in a research note on Friday, August 19th. StockNews.com lowered The Hanover Insurance Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 13th.Insider Transactions at The Hanover Insurance Group
In related news, Director Jane D. Carlin sold 946 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $136.65, for a total value of $129,270.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.50% of the company's stock.
Hedge Funds Weigh In On The Hanover Insurance Group
Several institutional investors have recently modified their holdings of THG. Baird Financial Group Inc. raised its holdings in The Hanover Insurance Group by 7.9% during the 1st quarter. Baird Financial Group Inc. now owns 1,716 shares of the insurance provider's stock worth $256,000 after buying an additional 126 shares during the period. HighTower Advisors LLC lifted its position in The Hanover Insurance Group by 3.8% in the 1st quarter. HighTower Advisors LLC now owns 3,679 shares of the insurance provider's stock valued at $550,000 after acquiring an additional 135 shares in the last quarter. Covestor Ltd boosted its stake in The Hanover Insurance Group by 35.4% in the 1st quarter. Covestor Ltd now owns 520 shares of the insurance provider's stock worth $78,000 after purchasing an additional 136 shares during the period. Quantbot Technologies LP increased its holdings in The Hanover Insurance Group by 45.7% during the 1st quarter. Quantbot Technologies LP now owns 542 shares of the insurance provider's stock worth $81,000 after purchasing an additional 170 shares in the last quarter. Finally, FMR LLC raised its stake in shares of The Hanover Insurance Group by 5.6% in the 2nd quarter. FMR LLC now owns 3,287 shares of the insurance provider's stock valued at $480,000 after purchasing an additional 173 shares during the period. Institutional investors own 85.81% of the company's stock.
The Hanover Insurance Group Company Profile
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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 three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, and workers' compensation insurance products, as well as management and professional liability, marine, specialty industrial and commercial property, monoline general liability, surety, umbrella, fidelity, crime, and other commercial coverages.
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