Hanover Insurance Group Inc (NYSE:THG) – Equities research analysts at Langen Mcalenn decreased their Q1 2017 earnings per share estimates for shares of Hanover Insurance Group in a note issued to investors on Monday, Zacks Investment Research reports. Langen Mcalenn analyst L. Greenberg now expects that the insurance provider will earn $1.73 per share for the quarter, down from their prior estimate of $1.81.
A number of other equities research analysts have also commented on THG. Zacks Investment Research raised shares of Hanover Insurance Group from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Wednesday, February 8th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $81.00 price objective on shares of Hanover Insurance Group in a research note on Friday, May 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Hanover Insurance Group has a consensus rating of “Buy” and a consensus price target of $91.20.
TRADEMARK VIOLATION WARNING: “Q1 2017 EPS Estimates for Hanover Insurance Group Inc (THG) Lowered by Langen Mcalenn” was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.chaffeybreeze.com/2017/05/19/brokers-issue-forecasts-for-hanover-insurance-group-incs-q1-2017-earnings-thg-updated-updated-updated.html.
Hanover Insurance Group (NYSE:THG) traded down 0.15% during midday trading on Wednesday, reaching $82.37. 201,276 shares of the company’s stock traded hands. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 29.05 and a beta of 1.10. Hanover Insurance Group has a 1-year low of $74.06 and a 1-year high of $92.78. The stock’s 50 day moving average price is $86.62 and its 200 day moving average price is $87.28.
Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by $0.78. Hanover Insurance Group had a net margin of 3.14% and a return on equity of 6.21%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business posted $1.64 earnings per share. Hanover Insurance Group’s revenue was up 3.7% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.42%. Hanover Insurance Group’s payout ratio is presently 55.71%.
In related news, insider Richard W. Lavey sold 26,250 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.07, for a total transaction of $2,364,337.50. Following the transaction, the insider now owns 12,285 shares in the company, valued at approximately $1,106,509.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Warren E. Barnes sold 3,226 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.33, for a total transaction of $291,404.58. Following the transaction, the vice president now owns 5,646 shares in the company, valued at approximately $510,003.18. The disclosure for this sale can be found here. 2.49% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THG. Credit Agricole S A acquired a new position in Hanover Insurance Group during the fourth quarter valued at $102,000. Pacad Investment Ltd. acquired a new position in Hanover Insurance Group during the fourth quarter valued at $137,000. Timber Hill LLC acquired a new position in Hanover Insurance Group during the first quarter valued at $212,000. Trust Co. of Toledo NA OH increased its position in Hanover Insurance Group by 6.5% in the first quarter. Trust Co. of Toledo NA OH now owns 2,466 shares of the insurance provider’s stock valued at $222,000 after buying an additional 150 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Hanover Insurance Group by 3.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,557 shares of the insurance provider’s stock valued at $231,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 81.51% of the company’s stock.
Hanover Insurance Group Company Profile
The Hanover Insurance Group, Inc is a holding company. The Company is engaged in providing property and casualty insurance products and services. The Company has four segments: Commercial Lines, Personal Lines, Chaucer and Other. It markets its domestic products and services through independent agents and brokers in the United States, and conducts business internationally through a subsidiary, Chaucer Holdings Limited, which operates through the Society and Corporation of Lloyd’s (Lloyd’s).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hanover Insurance Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanover Insurance Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.