Aon plc $AON Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of Aon plc (NYSE:AON) by 136.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 547,850 shares of the financial services provider’s stock after purchasing an additional 315,817 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AON were worth $176,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealth Watch Advisors INC purchased a new position in AON during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of AON in the 4th quarter valued at approximately $27,000. Kemnay Advisory Services Inc. acquired a new position in shares of AON in the 4th quarter worth approximately $29,000. Eagle Bay Advisors LLC purchased a new position in shares of AON during the 4th quarter worth approximately $30,000. Finally, Strive Asset Management LLC acquired a new stake in AON in the 3rd quarter valued at approximately $35,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Trading Up 3.9%

NYSE:AON opened at $381.65 on Wednesday. Aon plc has a 12-month low of $304.59 and a 12-month high of $382.34. The firm has a market cap of $81.51 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.92 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The stock has a fifty day moving average price of $338.54 and a 200 day moving average price of $331.59.

AON (NYSE:AON) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.01. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. AON had a return on equity of 43.50% and a net margin of 22.54%. Sell-side analysts anticipate that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.28 annualized dividend and a yield of 0.9%. AON’s dividend payout ratio (DPR) is 18.00%.

Analyst Ratings Changes

Several research analysts have recently commented on AON shares. Barclays raised their price target on AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Piper Sandler downgraded AON from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $377.00 in a report on Wednesday, July 15th. Wells Fargo & Company lowered their target price on AON from $409.00 to $406.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Cantor Fitzgerald lifted their target price on AON from $416.00 to $445.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of AON from $404.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, AON currently has an average rating of “Moderate Buy” and a consensus price target of $404.56.

Insider Transactions at AON

In related news, General Counsel Darren Zeidel sold 1,950 shares of AON stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of $372.05, for a total value of $725,497.50. Following the completion of the transaction, the general counsel owned 13,404 shares in the company, valued at $4,986,958.20. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.