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

The Hanover Insurance Group, Inc. (NYSE:THG) declared a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.90 per share by the insurance provider on Friday, March 28th. This represents a $3.60 dividend on an annualized basis and a yield of 2.27%.

The Hanover Insurance Group has raised its dividend by an average of 6.6% per year over the last three years and has raised its dividend every year for the last 20 years. The Hanover Insurance Group has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.5 %

NYSE THG traded up $2.31 during trading hours on Monday, reaching $158.88. 225,151 shares of the company’s stock traded hands, compared to its average volume of 223,413. The Hanover Insurance Group has a 52-week low of $119.66 and a 52-week high of $166.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a 50-day simple moving average of $156.01 and a 200 day simple moving average of $152.13. The firm has a market cap of $5.72 billion, a PE ratio of 13.59 and a beta of 0.72.

The Hanover Insurance Group (NYSE:THG) last released its quarterly earnings data on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $1.87. The Hanover Insurance Group had a net margin of 6.83% and a return on equity of 18.01%. Sell-side analysts anticipate that The Hanover Insurance Group will post 14.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on THG. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $162.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Janney Montgomery Scott cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target for the company. in a research report on Thursday, November 21st. Oppenheimer lifted their price objective on The Hanover Insurance Group from $165.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets upped their price target on shares of The Hanover Insurance Group from $161.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $175.25.

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.