Definitive Analysis
Definitive Analysis

Financial Statements

Ticker

Industry

Sector

The Hanover Insurance Group, Inc. (THG)

Company Dividend Discount ModelIndustry: Insurance - Property & CasualtySector: Financial Services

Valuation Snapshot

Stable Growth$185.86 - $299.39$237.07
Multi-Stage$296.58 - $325.91$310.96
Blended Fair Value$274.02
Current Price$181.63
Upside50.86%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-20.31%6.36%3.403.222.992.802.7310.602.592.382.212.04
YoY Growth--5.89%7.62%6.56%2.71%-74.24%309.54%8.64%7.96%8.36%10.75%
Dividend Yield--1.96%2.40%2.33%1.88%2.11%11.70%2.25%2.02%2.45%2.26%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)631.90
(-) Cash Dividends Paid (M)129.30
(=) Cash Retained (M)502.60
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)126.3878.9947.39
Cash Retained (M)502.60502.60502.60
(-) Cash Required (M)-126.38-78.99-47.39
(=) Excess Retained (M)376.22423.61455.21
(/) Shares Outstanding (M)36.4536.4536.45
(=) Excess Retained per Share10.3211.6212.49
LTM Dividend per Share3.553.553.55
(+) Excess Retained per Share10.3211.6212.49
(=) Adjusted Dividend13.8715.1716.04
WACC / Discount Rate7.53%7.53%7.53%
Growth Rate0.07%1.07%2.07%
Fair Value$185.86$237.07$299.39
Upside / Downside2.33%30.52%64.84%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)631.90638.63645.43652.31659.25666.28686.27
Payout Ratio20.46%34.37%48.28%62.18%76.09%90.00%92.50%
Projected Dividends (M)129.30219.50311.60405.64501.64599.65634.80

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.53%7.53%7.53%
Growth Rate0.07%1.07%2.07%
Year 1 PV (M)202.10204.12206.14
Year 2 PV (M)264.17269.48274.83
Year 3 PV (M)316.64326.23336.01
Year 4 PV (M)360.56375.19390.26
Year 5 PV (M)396.84417.07438.12
PV of Terminal Value (M)9,269.979,742.5110,234.14
Equity Value (M)10,810.2811,334.6011,879.50
Shares Outstanding (M)36.4536.4536.45
Fair Value$296.58$310.96$325.91
Upside / Downside63.29%71.21%79.44%

High-Yield Dividend Screener

« Prev Page 24 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
NDA-FI.HENordea Bank Abp5.73%$0.9467.38%
RBF.BKR&B Food Supply Public Company Limited5.73%$0.1781.37%
1882.HKHaitian International Holdings Limited5.72%$1.2733.58%
3339.HKLonking Holdings Limited5.72%$0.1736.46%
4126.TWOPacific Hospital Supply Co., Ltd5.72%$4.8486.09%
SLFSun Life Financial Inc.5.72%$3.6065.58%
0QKD.LForbo Holding AG5.71%$50.0340.66%
IPE.WAIPOPEMA Securities S.A.5.71%$0.2368.17%
SNOR.OLSpareBank 1 Nordmøre5.71%$10.0420.14%
3705.TWYungShin Global Holding Corporation5.70%$3.2590.33%
MST.BKMaybank Securities (Thailand) Public Company Limited5.70%$0.3875.36%
3462.TNomura Real Estate Master Fund, Inc.5.69%$9,849.8672.94%
CHILE.SNBanco de Chile5.69%$9.8578.63%
RSUL4.SAMetalúrgica Riosulense S.A.5.69%$3.9836.85%
600007.SSChina World Trade Center Co., Ltd.5.68%$1.1395.72%
AURG.OLAurskog Sparebank5.68%$15.0028.30%
BPO-PT.TOBrookfield Office Properties Inc5.68%$1.1634.59%
KTY.WAGrupa Kety S.A.5.68%$52.8592.39%
PREB.BKPre-Built Public Company Limited5.68%$0.2076.14%
3213.TWOMildef Crete Inc.5.67%$5.9677.23%
NAB.AXNational Australia Bank Limited5.67%$2.4066.40%
3282.TComforia Residential REIT, Inc5.66%$18,861.6284.64%
DTEL.BRDeutsche Telekom AG5.66%$1.1349.89%
HELG.OLSpareBank 1 Helgeland5.66%$10.3551.40%
SITHAI.BKSrithai Superware Public Company Limited5.66%$0.0697.25%
002884.SZGuangdong Lingxiao Pump Industry Co.,Ltd.5.65%$1.0077.13%
1535.TWChina Ecotek Corporation5.65%$2.9975.30%
8960.TUnited Urban Investment Corporation5.65%$10,346.6368.81%
SIILI.HESiili Solutions Oyj5.65%$0.2640.06%
AVEN.STAvensia AB (publ)5.64%$0.5078.26%
RPH.BKRatchaphruek Hospital Public Company Limited5.64%$0.2885.55%
1702.HKDongguang Chemical Limited5.63%$0.1123.80%
601033.SSGrandtop Yongxing Group Co., Ltd.5.63%$0.8583.54%
601398.SSIndustrial & Commercial Bank of China Ltd.5.63%$0.4543.37%
JDF.BKJD Food Public Company Limited5.63%$0.0852.54%
024110.KSIndustrial Bank of Korea5.62%$1,165.3436.50%
DHBK.QADoha Bank Q.P.S.C.5.62%$0.1655.17%
0667.HKChina East Education Holdings Limited5.61%$0.3885.28%
0807.HKSIIC Environment Holdings Ltd.5.61%$0.0625.08%
EKH.BKEkachai Medical Care Public Company Limited5.61%$0.2891.43%
HIFA-B.STHifab Group AB (publ.)5.61%$0.1742.74%
KCAR.BKKrungthai Car Rent and Lease Public Company Limited5.61%$0.3043.66%
000987.SZGuangzhou Yuexiu Financial Holdings Group Co., Ltd.5.60%$0.4663.54%
0VCO.LPeyto Exploration & Development Corp.5.60%$1.2970.79%
1537.TWKung Long Batteries Industrial Co.,Ltd5.60%$7.0072.79%
DVR.AXDiverger Limited5.60%$0.0769.90%
SECURE.BKnForce Secure Public Company Limited5.60%$0.7053.33%
029960.KQKorea Environment Technology Co., Ltd.5.59%$499.3892.03%
2057.HKZTO Express (Cayman) Inc.5.59%$9.3186.81%
3468.TStar Asia Investment Corporation5.59%$3,448.1578.34%