Fintel reports that on October 6, 2023, Piper Sandler maintained coverage of Hanover Insurance Group (NYSE:THG) with a Overweight recommendation.
Analyst Price Forecast Suggests 23.35% Upside
As of October 5, 2023, the average one-year price target for Hanover Insurance Group is 137.02. The forecasts range from a low of 120.19 to a high of $168.00. The average price target represents an increase of 23.35% from its latest reported closing price of 111.08.
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The projected annual revenue for Hanover Insurance Group is 5,886MM, an increase of 1.60%. The projected annual non-GAAP EPS is 10.65.
Hanover Insurance Group Declares $0.81 Dividend
On September 5, 2023 the company declared a regular quarterly dividend of $0.81 per share ($3.24 annualized). Shareholders of record as of September 15, 2023 received the payment on September 29, 2023. Previously, the company paid $0.81 per share.
At the current share price of $111.08 / share, the stock's dividend yield is 2.92%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.25%, the lowest has been 1.76%, and the highest has been 3.11%. The standard deviation of yields is 0.33 (n=236).
The current dividend yield is 2.04 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -1.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 775 funds or institutions reporting positions in Hanover Insurance Group. This is a decrease of 52 owner(s) or 6.29% in the last quarter. Average portfolio weight of all funds dedicated to THG is 0.20%, a decrease of 12.43%. Total shares owned by institutions decreased in the last three months by 1.64% to 39,846K shares. 
The put/call ratio of THG is 1.00, indicating a neutral outlook.
What are Other Shareholders Doing?
Franklin Resources holds 1,428K shares representing 4.00% ownership of the company. In it's prior filing, the firm reported owning 1,328K shares, representing an increase of 7.04%. The firm decreased its portfolio allocation in THG by 10.36% over the last quarter.
Allspring Global Investments Holdings holds 1,118K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 1,074K shares, representing an increase of 3.91%. The firm decreased its portfolio allocation in THG by 8.10% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,084K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,098K shares, representing a decrease of 1.34%. The firm decreased its portfolio allocation in THG by 16.86% over the last quarter.
Victory Capital Management holds 1,004K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 1,003K shares, representing an increase of 0.02%. The firm increased its portfolio allocation in THG by 38.36% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,000K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 991K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in THG by 18.08% over the last quarter.
Hanover Insurance Group Background Information
(This description is provided by the company.)
The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items.
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