Shares of The Hanover Insurance Group, Inc. (NYSE:THG – Get Rating) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $150.71.
Several research analysts have recently issued reports on THG shares. Piper Sandler increased their price objective on shares of The Hanover Insurance Group from $153.00 to $159.00 and gave the company a “neutral” rating in a report on Tuesday, April 4th. StockNews.com assumed coverage on shares of The Hanover Insurance Group in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. TheStreet downgraded shares of The Hanover Insurance Group from a “b-” rating to a “c+” rating in a report on Tuesday, May 9th. Bank of America cut The Hanover Insurance Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $142.00 to $130.00 in a report on Thursday, May 18th. Finally, Keefe, Bruyette & Woods cut their target price on The Hanover Insurance Group from $148.00 to $141.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 18th.
Institutional Investors Weigh In On The Hanover Insurance Group
Several large investors have recently made changes to their positions in the company. ProShare Advisors LLC lifted its stake in The Hanover Insurance Group by 6.0% in the first quarter. ProShare Advisors LLC now owns 261,046 shares of the insurance provider’s stock valued at $33,544,000 after acquiring an additional 14,878 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of The Hanover Insurance Group by 11.7% in the 1st quarter. JPMorgan Chase & Co. now owns 92,806 shares of the insurance provider’s stock valued at $11,926,000 after purchasing an additional 9,711 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in The Hanover Insurance Group by 258.0% in the first quarter. Rockefeller Capital Management L.P. now owns 2,431 shares of the insurance provider’s stock worth $312,000 after purchasing an additional 1,752 shares in the last quarter. Chilton Capital Management LLC acquired a new position in The Hanover Insurance Group during the first quarter worth $73,000. Finally, SRS Capital Advisors Inc. raised its holdings in The Hanover Insurance Group by 14.0% during the first quarter. SRS Capital Advisors Inc. now owns 1,356 shares of the insurance provider’s stock valued at $174,000 after buying an additional 167 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.
The Hanover Insurance Group Price Performance
The Hanover Insurance Group (NYSE:THG – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The insurance provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The Hanover Insurance Group had a positive return on equity of 3.62% and a negative net margin of 0.01%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the firm posted $3.26 EPS. Analysts anticipate that The Hanover Insurance Group will post 6.88 earnings per share for the current year.
The Hanover Insurance Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $3.24 dividend on an annualized basis and a yield of 2.80%. The Hanover Insurance Group’s payout ratio is -10,796.40%.
About The Hanover Insurance Group
The Hanover Insurance Group, Inc is a holding company that engages in the provision of property and casualty products and services. It operates through the following segments: Core Commercial, Specialty, Personal Lines and Other. The Core Commercial segment includes commercial multiple peril, commercial automobile, workers compensation and other core commercial coverage, such as general liability, commercial umbrella and monoline property.
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