Canada Pension Plan Investment Board cut its holdings in Aon PLC (NYSE:AON) by 30.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,733 shares of the financial services provider’s stock after selling 45,761 shares during the period. Canada Pension Plan Investment Board’s holdings in AON were worth $16,413,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of AON. Synovus Financial Corp grew its stake in shares of AON by 110.4% in the 3rd quarter. Synovus Financial Corp now owns 852 shares of the financial services provider’s stock valued at $132,000 after buying an additional 447 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of AON in the 2nd quarter valued at about $132,000. Shine Investment Advisory Services Inc. grew its stake in shares of AON by 1,468.2% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,035 shares of the financial services provider’s stock valued at $142,000 after buying an additional 969 shares during the period. TRUE Private Wealth Advisors acquired a new stake in shares of AON in the 3rd quarter valued at about $163,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of AON by 50.0% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,200 shares of the financial services provider’s stock valued at $165,000 after buying an additional 400 shares during the period. 85.01% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on AON shares. Credit Suisse Group started coverage on AON in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $154.00 target price for the company. Raymond James upgraded AON from an “underperform” rating to an “outperform” rating in a research note on Tuesday, September 25th. Citigroup raised their target price on AON from $167.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, October 12th. Wells Fargo & Co set a $143.00 target price on AON and gave the company a “hold” rating in a research note on Friday, October 26th. Finally, Sandler O’Neill upgraded AON from a “hold” rating to a “buy” rating in a research note on Monday, October 29th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $160.38.
AON stock opened at $165.11 on Monday. The stock has a market cap of $39.77 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.72 and a beta of 0.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.41 and a quick ratio of 1.41. Aon PLC has a 52-week low of $130.87 and a 52-week high of $166.41.
AON (NYSE:AON) last released its quarterly earnings results on Friday, October 26th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.39 billion. AON had a return on equity of 43.96% and a net margin of 7.06%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. On average, analysts forecast that Aon PLC will post 8.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 31st. This represents a $1.60 dividend on an annualized basis and a yield of 0.97%. AON’s dividend payout ratio (DPR) is currently 24.54%.
In other AON news, CEO Caroline Grace sold 4,000 shares of AON stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $160.00, for a total transaction of $640,000.00. Following the completion of the transaction, the chief executive officer now owns 41,796 shares in the company, valued at approximately $6,687,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 12,000 shares of company stock valued at $1,860,000 in the last quarter. Company insiders own 0.42% of the company’s stock.
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Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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