Should You be Confident in The Hanover Insurance Group (THG)?
The London Company, an investment management company, released “The London Company SMID Cap Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned 8.5% gross (8.3% net) compared to a 5.2% return for the Russell 2500 Index. Stock selection was positive for the fund’s performance which was offset by headwinds from sector exposure. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company SMID Cap Strategy highlighted stocks like The Hanover Insurance Group, Inc. (NYSE:THG) in the second quarter 2023 investor letter. Headquartered in Worcester, Massachusetts, The Hanover Insurance Group, Inc. (NYSE:THG) provides various property and casualty insurance products and services. On August 3, 2023, The Hanover Insurance Group, Inc. (NYSE:THG) stock closed at $111.30 per share. One-month return of The Hanover Insurance Group, Inc. (NYSE:THG) was -1.59%, and its shares lost 12.24% of their value over the last 52 weeks. The Hanover Insurance Group, Inc. (NYSE:THG) has a market capitalization of $3.976 billion.
The London Company SMID Cap Strategy made the following comment about The Hanover Insurance Group, Inc. (NYSE:THG) in its second quarter 2023 investor letter:
"The Hanover Insurance Group, Inc. (NYSE:THG) – Shares of THG lagged the broader market reflecting exposure to commercial real estate (CRE). THG has broad exposure to CRE through ownership of commercial mortgage backed securities. While there is certainly risk within the office space, we do not believe the broader CRE asset class as a whole is in significant danger; additionally, THG has significant tranche seniority in their mortgage backed securities book. Investment portfolio aside, we continue to have confidence in THG’s discipline and strategy in navigating this challenging underwriting environment."
The Hanover Insurance Group, Inc. (NYSE:THG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held The Hanover Insurance Group, Inc. (NYSE:THG) at the end of first quarter which was 16 in the previous quarter.
We discussed The Hanover Insurance Group, Inc. (NYSE:THG) in another article and shared the list of best property & casualty insurance stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
