SEB Asset Management AB Acquires Shares of 66,899 Aon plc $AON

SEB Asset Management AB acquired a new position in shares of Aon plc (NYSE:AON) during the first quarter, Holdings Channel reports. The fund acquired 66,899 shares of the financial services provider’s stock, valued at approximately $21,594,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sound View Wealth Advisors Group LLC lifted its position in shares of AON by 1.5% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider’s stock valued at $683,000 after purchasing an additional 29 shares in the last quarter. Kathmere Capital Management LLC grew its position in AON by 2.1% in the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 32 shares in the last quarter. City National Bank of Florida MSD increased its stake in AON by 3.8% in the 4th quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider’s stock valued at $306,000 after buying an additional 32 shares during the last quarter. Capital Investment Advisors LLC lifted its position in shares of AON by 1.8% during the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider’s stock worth $664,000 after buying an additional 33 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in shares of AON by 39.3% in the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, General Counsel Darren Zeidel sold 600 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the sale, the general counsel owned 15,354 shares of the company’s stock, valued at approximately $5,527,440. This represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho increased their price target on AON from $389.00 to $426.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a research report on Tuesday, April 21st. Piper Sandler lowered AON from an “overweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $377.00 in a research report on Wednesday. Cantor Fitzgerald lifted their target price on AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AON from $396.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $404.56.

AON Stock Performance

Shares of AON stock opened at $366.69 on Monday. The firm’s 50 day moving average is $332.19 and its 200 day moving average is $331.02. The stock has a market capitalization of $78.32 billion, a P/E ratio of 20.13, a PEG ratio of 1.92 and a beta of 0.71. Aon plc has a 12 month low of $304.59 and a 12 month high of $381.00. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36.

AON (NYSE:AON) last issued its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.67 EPS. On average, sell-side analysts anticipate that Aon plc will post 19.09 earnings per share for the current 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 given a $0.82 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON’s payout ratio is 18.00%.

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.