Aon plc $AON Stock Bought by Silver Grove Financial Group Inc.

Silver Grove Financial Group Inc. raised its holdings in Aon plc (NYSE:AON) by 1,073.9% during the third quarter, Holdings Channel.com reports. The firm owned 1,843 shares of the financial services provider’s stock after purchasing an additional 1,686 shares during the period. Silver Grove Financial Group Inc.’s holdings in AON were worth $510,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Robeco Institutional Asset Management B.V. grew its holdings in shares of AON by 11,179.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,026,135 shares of the financial services provider’s stock worth $1,114,313,000 after purchasing an additional 3,990,441 shares during the period. Bank of America Corp DE increased its position in shares of AON by 16.3% during the 1st quarter. Bank of America Corp DE now owns 1,582,680 shares of the financial services provider’s stock worth $510,857,000 after purchasing an additional 222,092 shares during the last quarter. Amundi raised its holdings in AON by 23.5% in the 1st quarter. Amundi now owns 1,502,890 shares of the financial services provider’s stock valued at $485,103,000 after buying an additional 285,549 shares during the period. Dimensional Fund Advisors LP raised its holdings in AON by 20.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,253,769 shares of the financial services provider’s stock valued at $404,709,000 after buying an additional 213,051 shares during the period. Finally, Retirement Systems of Alabama lifted its position in AON by 2,986.4% in the third quarter. Retirement Systems of Alabama now owns 1,384,829 shares of the financial services provider’s stock valued at $383,279,000 after buying an additional 1,339,960 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Price Performance

AON stock opened at $336.27 on Wednesday. The firm has a market cap of $71.34 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63. Aon plc has a 52-week low of $266.33 and a 52-week high of $382.34. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 2.58. The company’s 50 day moving average is $300.38 and its two-hundred day moving average is $325.95.

AON (NYSE:AON) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $3.36 EPS for the quarter, topping the consensus estimate of $3.30 by $0.06. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. AON had a net margin of 22.24% and a return on equity of 40.46%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.05 earnings per share. On average, research analysts expect that Aon plc will post 18.47 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be issued a $0.82 dividend. The ex-dividend date is Monday, November 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. AON’s dividend payout ratio (DPR) is 17.96%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AON. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of AON in a research note on Tuesday, September 1st. The Goldman Sachs Group boosted their price target on shares of AON from $375.00 to $401.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citigroup began coverage on shares of AON in a report on Monday, September 21st. They issued a “buy” rating and a $435.00 price objective on the stock. Jefferies Financial Group lowered their price objective on shares of AON from $387.00 to $383.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Finally, Piper Sandler dropped their target price on shares of AON from $391.00 to $349.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, AON has an average rating of “Hold” and an average price target of $369.12.

Insider Transactions at AON

In related news, Director Lester Knight bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the completion of the acquisition, the director owned 163,000 shares in the company, valued at approximately $53,379,240. This trade represents a 13.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk and make decisions about their people and finances. Its services include insurance brokerage, risk consulting, reinsurance solutions, employee benefits consulting and retirement and investment advisory services. The company serves businesses and institutions across a broad range of industries and geographies. Aon was formed in 1982 as Ryan Insurance Group and adopted the Aon name in 1987. It is headquartered in Dublin, Ireland, and operates internationally.