Elo Mutual Pension Insurance Co Raises Stock Holdings in Aon plc $AON

Elo Mutual Pension Insurance Co increased its stake in Aon plc (NYSE:AON) by 39.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,243 shares of the financial services provider’s stock after purchasing an additional 7,699 shares during the period. Elo Mutual Pension Insurance Co’s holdings in AON were worth $9,714,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Silver Lake Advisory LLC bought a new position in AON in the third quarter valued at $1,292,000. Callan Family Office LLC boosted its holdings in shares of AON by 220.7% in the 3rd quarter. Callan Family Office LLC now owns 11,675 shares of the financial services provider’s stock worth $4,163,000 after purchasing an additional 8,034 shares in the last quarter. Caprock Group LLC bought a new position in shares of AON during the 3rd quarter valued at about $1,752,000. Veritas Asset Management LLP raised its holdings in shares of AON by 19.3% during the 3rd quarter. Veritas Asset Management LLP now owns 2,053,673 shares of the financial services provider’s stock valued at $732,299,000 after buying an additional 332,685 shares in the last quarter. Finally, Factory Mutual Insurance Co. lifted its position in AON by 10.9% in the 3rd quarter. Factory Mutual Insurance Co. now owns 51,000 shares of the financial services provider’s stock worth $18,186,000 after buying an additional 5,000 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Activity at AON

In other AON news, Director Lester B. Knight acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average cost of $319.24 per share, with a total value of $1,276,960.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction on 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 completion of the sale, the general counsel directly owned 20,254 shares of the company’s stock, valued at approximately $6,598,550.66. The trade was a 19.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AON shares. The Goldman Sachs Group set a $395.00 price target on shares of AON in a research note on Wednesday, January 7th. Weiss Ratings restated a “hold (c+)” rating on shares of AON in a research report on Monday, December 29th. Mizuho raised AON from a “neutral” rating to an “outperform” rating and set a $397.00 price objective on the stock in a research note on Friday. Cantor Fitzgerald increased their target price on AON from $393.00 to $412.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $408.00 target price on shares of AON in a research note on Monday, February 2nd. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, AON has an average rating of “Moderate Buy” and a consensus target price of $408.94.

AON Trading Up 1.5%

NYSE AON opened at $335.11 on Monday. The firm has a market capitalization of $71.80 billion, a PE ratio of 19.69, a P/E/G ratio of 1.77 and a beta of 0.82. The stock’s 50 day moving average is $339.27 and its 200 day moving average is $349.06. Aon plc has a twelve month low of $304.59 and a twelve month high of $412.97. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.55.

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 the consensus estimate of $4.75 by $0.10. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.38 billion. AON had a net margin of 21.51% and a return on equity of 45.23%. AON’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $4.42 EPS. Research analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

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

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.