Entropy Technologies LP Sells 24,796 Shares of Aon plc $AON

Entropy Technologies LP lessened its stake in Aon plc (NYSE:AON) by 64.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,833 shares of the financial services provider’s stock after selling 24,796 shares during the quarter. Entropy Technologies LP’s holdings in AON were worth $4,465,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Aviva PLC grew its holdings in shares of AON by 2.0% in the fourth quarter. Aviva PLC now owns 333,454 shares of the financial services provider’s stock valued at $117,669,000 after purchasing an additional 6,622 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of AON by 21.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,552 shares of the financial services provider’s stock worth $13,251,000 after purchasing an additional 6,509 shares during the period. Handelsbanken Fonder AB grew its holdings in AON by 9.1% during the 4th quarter. Handelsbanken Fonder AB now owns 67,034 shares of the financial services provider’s stock valued at $23,655,000 after purchasing an additional 5,585 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in AON by 1,864.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 343,754 shares of the financial services provider’s stock worth $121,304,000 after purchasing an additional 326,256 shares during the period. Finally, Highland Capital Management LLC bought a new stake in AON in the fourth quarter worth about $1,359,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Price Performance

AON opened at $361.26 on Friday. The company has a market capitalization of $77.16 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.89 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The business’s fifty day simple moving average is $336.57 and its 200-day simple moving average is $331.38.

AON (NYSE:AON) 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 in the previous year, the company posted $5.67 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $0.82 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON’s payout ratio is currently 18.00%.

Analysts Set New Price Targets

AON has been the topic of a number of analyst reports. Piper Sandler cut AON from an “overweight” rating to a “neutral” rating and upped their target price for the company from $355.00 to $377.00 in a research note on Wednesday, July 15th. Cantor Fitzgerald raised their price target on shares of AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Citigroup lifted their price objective on shares of AON from $412.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Mizuho boosted their price objective on shares of AON from $389.00 to $426.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of AON from $404.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, AON has a consensus rating of “Moderate Buy” and a consensus price target of $404.56.

Insider Buying and Selling at AON

In other news, General Counsel Darren Zeidel sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total value of $216,000.00. Following the completion of the sale, the general counsel owned 15,354 shares of the company’s stock, valued at approximately $5,527,440. This represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

AON Company 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.