Hillsdale Investment Management Inc. Makes New $1.19 Million Investment in Aon plc $AON

Hillsdale Investment Management Inc. bought a new stake in shares of Aon plc (NYSE:AON) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,700 shares of the financial services provider’s stock, valued at approximately $1,194,000.

Several other hedge funds and other institutional investors have also modified their holdings of AON. Dodge & Cox grew its holdings in shares of AON by 126.6% during the fourth quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider’s stock valued at $2,770,975,000 after buying an additional 4,387,773 shares in the last quarter. Norges Bank purchased a new stake in AON in the 4th quarter worth about $1,155,981,000. Viking Global Investors LP acquired a new stake in AON during the 3rd quarter worth about $504,424,000. Balyasny Asset Management L.P. grew its stake in AON by 40,219.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider’s stock valued at $301,922,000 after acquiring an additional 844,615 shares in the last quarter. Finally, Southpoint Capital Advisors LP acquired a new position in shares of AON in the 4th quarter valued at about $229,372,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at AON

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of AON from $370.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on shares of AON from $396.00 to $412.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup boosted their price target on shares of AON from $412.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Wells Fargo & Company cut their price objective on AON from $409.00 to $406.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Cantor Fitzgerald lifted their price objective on AON from $416.00 to $445.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, AON presently has a consensus rating of “Moderate Buy” and an average target price of $404.56.

AON Stock Performance

Shares of AON opened at $355.23 on Thursday. The firm has a market cap of $75.87 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.71. The company’s fifty day moving average is $330.02 and its 200-day moving average is $330.86. The company has a quick ratio of 1.95, a current 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.

AON (NYSE:AON) last released its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.37 by $0.11. The business had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. AON’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.67 EPS. Equities analysts expect that Aon plc will post 19.09 EPS for the current fiscal year.

AON Announces Dividend

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

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.