Factory Mutual Insurance Co. Boosts Stake in Aon plc $AON

Factory Mutual Insurance Co. grew its stake in shares of Aon plc (NYSE:AON) by 10.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 51,000 shares of the financial services provider’s stock after acquiring an additional 5,000 shares during the quarter. Factory Mutual Insurance Co.’s holdings in AON were worth $18,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AON. Norges Bank acquired a new position in AON in the 2nd quarter valued at about $754,671,000. Vanguard Group Inc. grew its holdings in shares of AON by 2.6% during the second quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock worth $7,238,569,000 after buying an additional 511,292 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of AON by 15.6% in the second quarter. Bank of New York Mellon Corp now owns 3,507,656 shares of the financial services provider’s stock valued at $1,251,391,000 after buying an additional 473,594 shares during the last quarter. Altrinsic Global Advisors LLC boosted its position in AON by 193.2% during the second quarter. Altrinsic Global Advisors LLC now owns 692,633 shares of the financial services provider’s stock worth $247,104,000 after acquiring an additional 456,399 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in AON by 92.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 889,332 shares of the financial services provider’s stock worth $317,118,000 after acquiring an additional 428,361 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

AON Trading Up 0.4%

Shares of AON opened at $324.20 on Friday. Aon plc has a 12 month low of $304.59 and a 12 month high of $412.97. The stock’s 50-day moving average is $342.56 and its two-hundred day moving average is $350.95. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 1.35. The stock has a market cap of $69.46 billion, a PE ratio of 19.05, a P/E/G ratio of 1.65 and a beta of 0.83.

AON (NYSE:AON) last announced its earnings results on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.75 by $0.10. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.38 billion. AON had a return on equity of 45.23% and a net margin of 21.51%.The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $4.42 EPS. Equities analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

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

Insider Buying and Selling at AON

In other news, Director Lester B. Knight purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average cost of $319.24 per share, with a total value of $1,276,960.00. Following the acquisition, the director owned 143,000 shares in the company, valued at approximately $45,651,320. This trade represents a 2.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $1,641,981.60. Following the sale, the general counsel directly owned 20,254 shares in the company, valued at $6,598,550.66. This trade represents a 19.93% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays increased their price target on AON from $379.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. UBS Group reissued a “neutral” rating and issued a $385.00 price target on shares of AON in a research note on Monday, February 2nd. Keefe, Bruyette & Woods upped their price objective on shares of AON from $410.00 to $416.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of AON from $433.00 to $406.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Finally, Evercore reaffirmed an “outperform” rating and set a $436.00 price target on shares of AON in a research note on Wednesday, January 7th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $409.75.

AON Company 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.