3,850 Shares in Aon plc $AON Purchased by Highland Capital Management LLC

Highland Capital Management LLC acquired a new position in Aon plc (NYSE:AON) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,850 shares of the financial services provider’s stock, valued at approximately $1,359,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in AON by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 35 shares during the period. Wealth Watch Advisors INC purchased a new stake in AON in the 3rd quarter worth about $25,000. Eagle Bay Advisors LLC purchased a new stake in AON in the 4th quarter worth about $30,000. Strive Asset Management LLC purchased a new stake in AON in the 3rd quarter worth about $35,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in AON in the 3rd quarter worth about $37,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AON shares. Mizuho reduced their target price on shares of AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a research report on Tuesday. Barclays reduced their target price on shares of AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. The Goldman Sachs Group set a $395.00 target price on shares of AON in a research report on Wednesday, January 7th. UBS Group reaffirmed a “neutral” rating and set a $385.00 target price on shares of AON in a research report on Monday, February 2nd. Finally, Piper Sandler reduced their target price on shares of AON from $388.00 to $355.00 and set an “overweight” rating on the stock in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $397.88.

Insider Activity at AON

In other AON news, General Counsel Darren Zeidel sold 5,040 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total value of $1,641,981.60. Following the completion of the sale, the general counsel directly owned 20,254 shares in the company, valued at $6,598,550.66. This trade represents a 19.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lester B. Knight bought 4,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was purchased at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the completion of the purchase, the director owned 143,000 shares of the company’s stock, valued at $45,651,320. This represents a 2.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by company insiders.

AON Stock Performance

Shares of AON stock opened at $314.52 on Wednesday. The firm has a market cap of $67.17 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.67 and a beta of 0.72. The company’s 50 day moving average is $325.19 and its 200 day moving average is $336.84. The company has a quick ratio of 2.03, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. Aon plc has a 52-week low of $304.59 and a 52-week high of $381.00.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, May 1st. 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 company had revenue of $5.03 billion for 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 revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $5.67 earnings per share. On average, sell-side analysts anticipate that Aon plc will post 19.02 EPS for the current fiscal year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. This is a positive change from AON’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, May 1st. AON’s payout ratio is 16.36%.

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.