Madison Investments released its “Madison Small Cap Fund” second-quarter 2025 investor letter, highlighting the impact of liberation day tariffs on equities and treasuries. The Russell 2000 Index is up 8.5% for the quarter. The Madison Small Cap Fund returned 4.42%, lagging behind the Russell 2000 and Russell 2500.

The Hanover Insurance Group, Inc. (NYSE:THG) was featured in the investor letter, with a one-month return of 0.47% and shares gaining 17.37% over the last 52 weeks. On September 17, 2025, The Hanover Insurance Group, Inc. (NYSE:THG) closed at $174.92 per share, with a market capitalization of $6.257 billion.

Madison Small Cap Fund outlined reasons for investing in The Hanover Insurance Group, Inc. (THG), citing its underfollowed status and strong business diversification. The company’s intrinsic value is assessed at $210. While not among the 30 most popular stocks among hedge funds, The Hanover Insurance Group, Inc. (NYSE:THG) remains a potential investment opportunity in the small cap space.

Read more at Yahoo Finance: Is The Hanover Insurance Group (THG) a High-Quality P&C Company?