The Hanover Insurance Group Inc. (THG) Sets New 52-Week Low at $74.61
The Hanover Insurance Group Inc. (NYSE:THG)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $74.61 and last traded at $74.65, with a volume of 126,058 shares changing hands. The stock had previously closed at $74.72.
Several research firms recently commented on THG. Zacks Investment Research upgraded The Hanover Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. JMP Securities reiterated an “outperform” rating and issued a $95.00 price objective on shares of The Hanover Insurance Group in a research note on Monday, September 12th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $99.00 price objective (up previously from $98.00) on shares of The Hanover Insurance Group in a research note on Tuesday, July 12th.
The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 13.80 and a beta of 0.91. The stock’s 50 day moving average price is $77.98 and its 200 day moving average price is $83.69.
The Hanover Insurance Group (NYSE:THG) last announced its earnings results on Thursday, July 28th. The company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.02. The Hanover Insurance Group had a net margin of 4.83% and a return on equity of 9.51%. The business earned $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities analysts forecast that The Hanover Insurance Group Inc. will post $5.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, September 14th. The Hanover Insurance Group’s dividend payout ratio is 34.39%.
In other The Hanover Insurance Group news, insider Christine Bilotti-Peterson sold 3,600 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $82.31, for a total transaction of $296,316.00. Following the completion of the transaction, the insider now owns 6,390 shares of the company’s stock, valued at $525,960.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.49% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Huntington Asset Advisors Inc. purchased a new stake in shares of The Hanover Insurance Group during the first quarter valued at $171,000. Landscape Capital Management L.L.C. purchased a new stake in shares of The Hanover Insurance Group during the first quarter valued at $983,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of The Hanover Insurance Group during the first quarter valued at $334,000. JPMorgan Chase & Co. increased its stake in shares of The Hanover Insurance Group by 35.3% in the first quarter. JPMorgan Chase & Co. now owns 255,549 shares of the company’s stock valued at $23,056,000 after buying an additional 66,681 shares during the period. Finally, BlackRock Japan Co. Ltd purchased a new stake in shares of The Hanover Insurance Group during the first quarter valued at $332,000. 82.93% of the stock is owned by institutional investors.
The Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc is a holding company. The Company’s primary business operations are property and casualty insurance products and services. The Company operates through four segments: Commercial Lines, Personal Lines, Chaucer and Other. The Company’s Commercial Lines product suite provides agents and customers with products designed for small, middle and specialized markets.
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