Aon plc $AON Shares Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its Aon stake by 340.1% in the fourth quarter, ending with 38,629 shares valued at about $13.6 million.
• Aon reported better-than-expected quarterly results, posting EPS of $6.48 versus the $6.37 estimate and revenue of $5.03 billion, up 6.4% year over year.
• The company also raised its quarterly dividend to $0.82 from $0.75, while analysts currently rate the stock a Moderate Buy with a consensus price target of $396.81.

Entropy Technologies LP boosted its stake in shares of Aon plc (NYSE:AON - Free Report) by 340.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,629 shares of the financial services provider's stock after acquiring an additional 29,851 shares during the quarter. AON comprises 0.7% of Entropy Technologies LP's investment portfolio, making the stock its 24th biggest holding. Entropy Technologies LP's holdings in AON were worth $13,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in shares of AON by 28.4% during the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider's stock worth $5,246,000 after buying an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of AON by 9.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider's stock worth $34,992,000 after buying an additional 8,216 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of AON by 35.2% during the 2nd quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider's stock worth $104,249,000 after buying an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC raised its stake in shares of AON by 27.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider's stock worth $995,000 after buying an additional 583 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of AON by 46.1% during the 2nd quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider's stock worth $14,286,000 after buying an additional 12,631 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Stock Performance

NYSE AON opened at $335.51 on Friday. Aon plc has a 1-year low of $304.59 and a 1-year high of $381.00. The company has a market capitalization of $71.66 billion, a P/E ratio of 18.41, a PEG ratio of 1.76 and a beta of 0.71. The business has a 50 day moving average price of $322.69 and a 200 day moving average price of $332.68. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period last year, the business posted $5.67 EPS. AON's quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts expect that Aon plc will post 19.1 EPS for the current fiscal year.

AON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 1st. This is an increase from AON's previous quarterly dividend of $0.75. AON's dividend payout ratio (DPR) is 16.36%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AON shares. Keefe, Bruyette & Woods cut their target price on AON from $416.00 to $401.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Mizuho cut their target price on AON from $394.00 to $389.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. JPMorgan Chase & Co. cut their target price on AON from $406.00 to $396.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Weiss Ratings reissued a "hold (c)" rating on shares of AON in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company dropped their price objective on AON from $443.00 to $402.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $396.81.

AON Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.

Want to see what other hedge funds are holding AON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aon plc (NYSE:AON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.