Hanover Insurance Group Inc (NYSE:THG) – Stock analysts at Piper Sandler lowered their Q3 2020 EPS estimates for shares of Hanover Insurance Group in a report issued on Friday, September 18th. Piper Sandler analyst P. Newsome now forecasts that the insurance provider will post earnings per share of $2.00 for the quarter, down from their prior estimate of $2.02. Piper Sandler currently has a “Overweight” rating and a $114.00 target price on the stock. Piper Sandler also issued estimates for Hanover Insurance Group’s FY2020 earnings at $7.89 EPS.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Hanover Insurance Group from a “buy” rating to a “sell” rating in a research note on Wednesday, September 9th. Credit Suisse Group initiated coverage on shares of Hanover Insurance Group in a research note on Thursday, September 3rd. They issued a “neutral” rating and a $117.00 target price on the stock. Finally, ValuEngine downgraded shares of Hanover Insurance Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $126.20.
Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.50 by $0.13. Hanover Insurance Group had a net margin of 6.39% and a return on equity of 10.93%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in Hanover Insurance Group by 3.1% during the 1st quarter. Janus Henderson Group PLC now owns 947,013 shares of the insurance provider’s stock valued at $85,780,000 after acquiring an additional 28,733 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Hanover Insurance Group by 7.5% in the 2nd quarter. Macquarie Group Ltd. now owns 939,325 shares of the insurance provider’s stock worth $95,181,000 after purchasing an additional 65,187 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Hanover Insurance Group by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 765,723 shares of the insurance provider’s stock worth $77,592,000 after purchasing an additional 19,996 shares during the period. Wellington Management Group LLP lifted its stake in shares of Hanover Insurance Group by 27.9% in the 1st quarter. Wellington Management Group LLP now owns 640,190 shares of the insurance provider’s stock worth $57,988,000 after purchasing an additional 139,580 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Hanover Insurance Group by 37.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 593,465 shares of the insurance provider’s stock worth $53,757,000 after purchasing an additional 161,340 shares during the period. Institutional investors and hedge funds own 85.29% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, September 10th. Hanover Insurance Group’s dividend payout ratio is currently 31.86%.
Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, umbrella, healthcare, mono-line general liability, and miscellaneous commercial property insurance products; and other commercial coverages, including inland marine, specialty program business, management and professional liability, surety, and specialty property.
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