Strategy Asset Managers LLC bought a new position in Aon PLC (NYSE:AON) in the first quarter, HoldingsChannel reports. The fund bought 43,026 shares of the financial services provider’s stock, valued at approximately $7,345,000. AON accounts for 1.7% of Strategy Asset Managers LLC’s investment portfolio, making the stock its 23rd biggest holding.
Several other large investors also recently made changes to their positions in AON. TD Asset Management Inc. lifted its holdings in shares of AON by 1.3% in the first quarter. TD Asset Management Inc. now owns 1,041,008 shares of the financial services provider’s stock valued at $177,700,000 after purchasing an additional 13,395 shares in the last quarter. Smith Moore & CO. purchased a new stake in shares of AON in the first quarter valued at $362,000. ETF Managers Group LLC lifted its holdings in shares of AON by 9.3% in the first quarter. ETF Managers Group LLC now owns 1,027 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 87 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of AON by 94.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 51,290 shares of the financial services provider’s stock valued at $8,755,000 after purchasing an additional 24,871 shares in the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV purchased a new stake in shares of AON in the first quarter valued at $617,000. Institutional investors own 84.63% of the company’s stock.
Shares of NYSE AON traded up $1.57 during mid-day trading on Tuesday, reaching $180.10. The company had a trading volume of 12,383 shares, compared to its average volume of 1,054,255. Aon PLC has a twelve month low of $134.82 and a twelve month high of $182.60. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $43.42 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.75 and a beta of 0.94.
AON (NYSE:AON) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $3.31 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $3.31. AON had a net margin of 11.08% and a return on equity of 46.15%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the business posted $2.97 earnings per share. AON’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts predict that Aon PLC will post 9.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.98%. This is an increase from AON’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, April 30th. AON’s dividend payout ratio is presently 21.57%.
AON has been the topic of a number of research reports. Wells Fargo & Co reaffirmed a “hold” rating and issued a $173.00 price target on shares of AON in a research note on Friday, April 26th. Morgan Stanley upped their price target on shares of AON from $169.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 15th. Barclays upped their price target on shares of AON from $153.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, April 1st. ValuEngine raised shares of AON from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Finally, MKM Partners raised shares of AON from a “neutral” rating to a “buy” rating and upped their price target for the stock from $155.00 to $200.00 in a research note on Monday, February 4th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. AON presently has an average rating of “Hold” and an average price target of $173.10.
In other AON news, General Counsel Peter M. Lieb sold 5,200 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $178.39, for a total transaction of $927,628.00. Following the transaction, the general counsel now directly owns 16,446 shares of the company’s stock, valued at $2,933,801.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Andersen sold 7,500 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.50, for a total transaction of $1,338,750.00. Following the transaction, the insider now directly owns 80,941 shares in the company, valued at $14,447,968.50. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.
Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
See Also: Intrinsic Value
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