As one would reasonably expect, key hedge funds have been driving this bullishness. Citadel Investment Group, managed by Ken Griffin, assembled the most valuable call position in Travelers Companies Inc (NYSE:TRV). Citadel Investment Group had $8.3 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $5.2 million position during the quarter. The following funds were also among the new TRV investors: John D. Gillespie’s Prospector Partners, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Benjamin A. Smith’s Laurion Capital Management.
Let’s now take a look at hedge fund activity in other stocks similar to Travelers Companies Inc (NYSE:TRV). We will take a look at Ecolab Inc. (NYSE:ECL), Cognizant Technology Solutions Corp (NASDAQ:CTSH), Las Vegas Sands Corp. (NYSE:LVS), and Anthem Inc (NYSE:ANTM). All of these stocks’ market caps are similar to TRV’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 39 hedge funds with bullish positions and the average amount invested in these stocks was $1.76 billion. That figure was $542 million in TRV’s case. Anthem Inc (NYSE:ANTM) is the most popular stock in this table. On the other hand Ecolab Inc. (NYSE:ECL) is the least popular one with only 24 bullish hedge fund positions. Travelers Companies Inc (NYSE:TRV) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ANTM might be a better candidate to consider a long position.