Aon PLC (NYSE:AON) investors should be aware of an increase in hedge fund sentiment of late. AON was in 36 hedge funds’ portfolio at the end of September. There were 32 hedge funds in hedge fund experts Insider Monkey’s database with AON positions at the end of the previous quarter.
The company that provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide stock recently saw its stock hit an all-time high.
Keeping this in mind, it’s important to take a peek at the recent action surrounding Aon PLC (NYSE:AON).
What have hedge funds been doing with Aon PLC (NYSE:AON)?
At the end of the third quarter, a total of 36 of the hedge funds Inside Monkey tracks were bullish on this stock, a change of 13 percent from one quarter earlier. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were increasing their stakes substantially.
When looking at the hedgies followed by Insider Monkey, Eagle Capital Management, managed by Boykin Curry, holds the most valuable position in Aon PLC (NYSE:AON). Eagle Capital Management has a $1.2045 billion position in the stock, comprising 5.8 percent of its 13F portfolio. The second most bullish hedge fund manager is Mason Hawkins of Southeastern Asset Management, with a $1.1557 billion position; 5.8 percent of its 13F portfolio is allocated to the stock. Remaining peers that hold long positions consist of Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC, Jeffrey Tannenbaum’s Fir Tree and Larry Robbins’s Glenview Capital.
As industrywide interest jumped, key money managers were leading the bulls’ herd. Sandler Capital Management, managed by Andrew Sandler, initiated the most valuable position in Aon PLC (NYSE:AON). Sandler Capital Management had 27.8 million invested in the company at the end of the quarter. Mark Kingdon’s Kingdon Capital also initiated a $11.2 million position during the quarter. The other funds with brand new AON positions are SAC Subsidiary’s CR Intrinsic Investors, Greg Poole’s Echo Street Capital Management, and Matthew Hulsizer’s PEAK6 Capital Management.
Insider trading activity in Aon PLC (NYSE:AON)
Insider trading activity, especially when it’s bullish, is at its handiest when the company in question has experienced transactions within the past six months. Over the last 180-day time period, Aon PLC (NYSE:AON) has seen zero unique insiders purchasing, and three insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Aon PLC (NYSE:AON). These stocks are Erie Indemnity Company (NASDAQ:ERIE), Brown & Brown, Inc. (NYSE:BRO), Arthur J. Gallagher & Co. (NYSE:AJG), Willis Group Holdings PLC (NYSE:WSH), and Marsh & McLennan Companies, Inc. (NYSE:MMC). All of these stocks are in the insurance brokers industry and their market caps are closest to AON’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|Erie Indemnity Company (NASDAQ:ERIE)||8||1||2|
|Brown & Brown, Inc. (NYSE:BRO)||28||1||1|
|Arthur J. Gallagher & Co. (NYSE:AJG)||20||0||3|
|Willis Group Holdings PLC (NYSE:WSH)||17||2||6|
|Marsh & McLennan Companies, Inc. (NYSE:MMC)||22||0||6|
Among insurance brokers, Aon outpaces the likes of Brown & Brown, Inc. and Arthur J. Gallagher & Co. in the race to make it into hedge fund portfolios, as the chart indicates.