The government requires hedge funds and wealthy investors with over a certain portfolio size to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings level the playing field for ordinary investors. The latest round of 13F filings discloses the funds’ positions on September 30. We at Insider Monkey have made an extensive database of more than 700 of those elite funds and prominent investors’ filings. In this article, we analyze how these elite funds and prominent investors traded Hartford Financial Services Group Inc (NYSE:HIG) based on those filings.
Is Hartford Financial Services Group Inc (NYSE:HIG) worth your attention right now? The best stock pickers are in a bullish mood. The number of bullish hedge fund bets advanced by 8 lately. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as TELUS Corporation (USA) (NYSE:TU), Fidelity National Information Services (NYSE:FIS), and Ventas, Inc. (NYSE:VTR) to gather more data points.
At the moment there are a lot of methods investors have at their disposal to value stocks. A pair of the most innovative methods are hedge fund and insider trading signals. We have shown that, historically, those who follow the best picks of the top fund managers can outclass the broader indices by a healthy amount (see the details here).
Keeping this in mind, we’re going to take a gander at the new action regarding Hartford Financial Services Group Inc (NYSE:HIG).
What have hedge funds been doing with Hartford Financial Services Group Inc (NYSE:HIG)?
At the end of the third quarter, a total of 51 of the hedge funds tracked by Insider Monkey were long this stock, a change of 19% from the second quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Steven Richman’s East Side Capital (RR Partners) has the most valuable position in Hartford Financial Services Group Inc (NYSE:HIG), worth close to $348.6 million, corresponding to 14.9% of its total 13F portfolio. On East Side Capital (RR Partners)’s heels is Israel Englander of Millennium Management, with a $170.2 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Other peers with similar optimism comprise Bill Miller’s Legg Mason Capital Management, Cliff Asness’ AQR Capital Management and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.