Is Hartford Financial Services Group Inc (HIG) A Good Stock To Buy?

As one would reasonably expect, key money managers were breaking ground themselves. Diamond Hill Capital, managed by Ric Dillon, created the most outsized position in Hartford Financial Services Group Inc (NYSE:HIG). Diamond Hill Capital had $160.4 million invested in the company at the end of the quarter. Matthew Mark’s Jet Capital Investors also made a $57.8 million investment in the stock during the quarter. The other funds with brand new HIG positions are Glenn Russell Dubin’s Highbridge Capital Management, Ken Griffin’s Citadel Investment Group, and Joe DiMenna’s ZWEIG DIMENNA PARTNERS.

Let’s now review hedge fund activity in other stocks similar to Hartford Financial Services Group Inc (NYSE:HIG). We will take a look at International Paper Company (NYSE:IP), Realty Income Corp (NYSE:O), Analog Devices, Inc. (NASDAQ:ADI), and Magellan Midstream Partners, L.P. (NYSE:MMP). All of these stocks’ market caps are similar to HIG’s market cap.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $508 million. That figure was $1.04 billion in HIG’s case. International Paper Company (NYSE:IP) is the most popular stock in this table. On the other hand Magellan Midstream Partners, L.P. (NYSE:MMP) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks Hartford Financial Services Group Inc (NYSE:HIG) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.