According to Zacks, “Allmerica Financial Corp. is a non-insurance holding company. The Company offers financial products and services in two major areas: Risk Management and Asset Accumulation. Within these broad areas, the Company conducts business principally in three operating segments. These segments are Risk Management, Allmerica Financial Services, and Allmerica Asset Management. In addition to the three operating segments, the Company also has a Corporate segment, which consists primarily of cash, investments, Corporate debt and Capital Securities. “
A number of other brokerages also recently issued reports on THG. BMO Capital Markets reissued an outperform rating and set a $94.00 target price (down from $99.00) on shares of The Hanover Insurance Group in a research note on Wednesday, August 3rd. JMP Securities reaffirmed 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.
The Hanover Insurance Group (NYSE:THG) opened at 77.61 on Thursday. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 14.45 and a beta of 1.01. The Hanover Insurance Group has a 52 week low of $74.06 and a 52 week high of $91.30. The stock has a 50 day moving average price of $76.40 and a 200 day moving average price of $82.64.
The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Thursday, July 28th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. The business earned $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. The Hanover Insurance Group had a return on equity of 9.51% and a net margin of 4.83%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 EPS. Equities research analysts expect that The Hanover Insurance Group will post $5.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.37%. The ex-dividend date was Wednesday, September 14th. The Hanover Insurance Group’s payout ratio is currently 34.39%.
In related news, insider Christine Bilotti-Peterson sold 3,600 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $82.31, for a total value of $296,316.00. Following the completion of the transaction, the insider now directly owns 6,390 shares of the company’s stock, valued at approximately $525,960.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.49% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in The Hanover Insurance Group during the fourth quarter valued at $35,320,000. Emerald Acquisition Ltd. bought a new position in The Hanover Insurance Group during the second quarter valued at $25,881,000. UBS Asset Management Americas Inc. increased its position in The Hanover Insurance Group by 144.0% in the second quarter. UBS Asset Management Americas Inc. now owns 400,282 shares of the company’s stock valued at $33,872,000 after buying an additional 236,240 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in The Hanover Insurance Group during the second quarter valued at $19,822,000. Finally, Vanguard Group Inc. increased its position in The Hanover Insurance Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 3,585,420 shares of the company’s stock valued at $303,398,000 after buying an additional 158,764 shares during the last quarter. 82.93% of the stock is owned by hedge funds and other institutional investors.
About The Hanover Insurance Group
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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