NewEdge Wealth LLC Boosts Stock Position in Aon plc $AON

NewEdge Wealth LLC boosted its stake in shares of Aon plc (NYSE:AON) by 25.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,997 shares of the financial services provider’s stock after purchasing an additional 1,601 shares during the period. NewEdge Wealth LLC’s holdings in AON were worth $2,733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Matrix Trust Co raised its holdings in shares of AON by 7.1% in the 3rd quarter. Matrix Trust Co now owns 422 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 28 shares in the last quarter. Busey Bank increased its position in AON by 0.3% during the 3rd quarter. Busey Bank now owns 9,565 shares of the financial services provider’s stock valued at $3,411,000 after buying an additional 33 shares in the last quarter. Rossby Financial LCC raised its position in shares of AON by 9.1% in the 2nd quarter. Rossby Financial LCC now owns 406 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 34 shares during the last quarter. Heritage Family Offices LLP lifted its stake in shares of AON by 1.5% during the third quarter. Heritage Family Offices LLP now owns 2,308 shares of the financial services provider’s stock worth $823,000 after buying an additional 35 shares during the period. Finally, Martin Investment Management LLC grew its stake in AON by 1.8% during the 3rd quarter. Martin Investment Management LLC now owns 1,985 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 35 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AON. JPMorgan Chase & Co. cut their price target on AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Mizuho set a $398.00 price target on shares of AON in a research report on Tuesday, February 3rd. Cantor Fitzgerald lifted their target price on shares of AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Wells Fargo & Company cut their price target on AON from $448.00 to $443.00 and set an “overweight” rating for the company in a report on Sunday, February 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of AON in a report on Monday, December 29th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $409.75.

AON Stock Performance

Shares of AON stock opened at $325.14 on Friday. The business has a 50-day simple moving average of $341.99 and a 200-day simple moving average of $350.70. The company has a market cap of $69.67 billion, a PE ratio of 19.10, a P/E/G ratio of 1.66 and a beta of 0.83. Aon plc has a one year low of $304.59 and a one year high of $412.97. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.35 and a current ratio of 2.03.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.75 by $0.10. AON had a net margin of 21.51% and a return on equity of 45.23%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the previous year, the firm earned $4.42 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Aon plc will post 17.21 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were paid a dividend of $0.745 per share. The ex-dividend date was Monday, February 2nd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. AON’s payout ratio is presently 17.51%.

Insider Buying and Selling at AON

In other news, General Counsel Darren Zeidel sold 5,040 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total value of $1,641,981.60. Following the transaction, the general counsel owned 20,254 shares in the company, valued at approximately $6,598,550.66. This represents a 19.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lester B. Knight bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the purchase, the director owned 143,000 shares of the company’s stock, valued at $45,651,320. The trade was a 2.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

About AON

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.