Citigroup Inc. Acquires 42,656 Shares of Aon plc $AON

Citigroup Inc. increased its stake in Aon plc (NYSE:AON) by 21.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 239,320 shares of the financial services provider’s stock after purchasing an additional 42,656 shares during the quarter. Citigroup Inc.’s holdings in AON were worth $85,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Westside Investment Management Inc. raised its holdings in shares of AON by 100.0% during the third quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Heartwood Wealth Advisors LLC acquired a new position in AON during the 3rd quarter worth approximately $29,000. Atlantic Union Bankshares Corp bought a new position in AON in the second quarter worth approximately $31,000. Salomon & Ludwin LLC bought a new stake in shares of AON during the third quarter valued at approximately $31,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of AON during the second quarter valued at approximately $37,000. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. TD Cowen decreased their price objective on AON from $419.00 to $416.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Citigroup raised their target price on AON from $402.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Morgan Stanley set a $400.00 price target on AON in a report on Tuesday, December 16th. Finally, Wells Fargo & Company dropped their price objective on AON from $448.00 to $443.00 and set an “overweight” rating on the stock in a research note on Sunday, February 1st. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, AON currently has an average rating of “Moderate Buy” and an average price target of $409.75.

AON Trading Up 0.3%

Shares of AON stock opened at $325.14 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market cap of $69.67 billion, a PE ratio of 19.10, a P/E/G ratio of 1.71 and a beta of 0.83. Aon plc has a 1 year low of $304.59 and a 1 year high of $412.97. The stock has a fifty day moving average price of $341.99 and a 200-day moving average price of $350.53.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.10. AON had a net margin of 21.51% and a return on equity of 45.23%. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.38 billion. During the same quarter in the previous year, the firm posted $4.42 EPS. AON’s revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $0.745 dividend. 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 dividend payout ratio (DPR) is presently 17.51%.

Insider Transactions at AON

In related news, Director Lester B. Knight purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were purchased at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the transaction, the director directly owned 143,000 shares in the company, valued at approximately $45,651,320. This represents a 2.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Darren Zeidel sold 5,040 shares of the stock in a transaction that occurred 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 completion of the sale, the general counsel owned 20,254 shares in the company, valued at $6,598,550.66. This represents a 19.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

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.