Cresset Asset Management LLC Has $7.23 Million Stock Position in Aon plc $AON

Cresset Asset Management LLC increased its stake in shares of Aon plc (NYSE:AON) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,284 shares of the financial services provider’s stock after purchasing an additional 1,998 shares during the period. Cresset Asset Management LLC’s holdings in AON were worth $7,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AON. Matrix Trust Co increased its stake in shares of AON by 7.1% in the 3rd quarter. Matrix Trust Co now owns 422 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 28 shares during the last quarter. Busey Bank grew its holdings in AON by 0.3% during the third quarter. Busey Bank now owns 9,565 shares of the financial services provider’s stock valued at $3,411,000 after purchasing an additional 33 shares during the period. Westpac Banking Corp raised its holdings in AON by 5.6% in the third quarter. Westpac Banking Corp now owns 620 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 33 shares during the period. Mill Creek Capital Advisors LLC boosted its position in shares of AON by 5.9% during the third quarter. Mill Creek Capital Advisors LLC now owns 615 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 34 shares in the last quarter. Finally, Heritage Family Offices LLP increased its position in shares of AON by 1.5% in the 3rd quarter. Heritage Family Offices LLP now owns 2,308 shares of the financial services provider’s stock valued at $823,000 after buying an additional 35 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AON. JPMorgan Chase & Co. reduced their target price on AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Citigroup raised their price target on AON from $402.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Morgan Stanley set a $400.00 price objective on AON in a research report on Tuesday, December 16th. Evercore restated an “outperform” rating and set a $436.00 target price on shares of AON in a report on Wednesday, January 7th. Finally, Bank of America raised shares of AON from a “neutral” rating to an “outperform” rating and cut their price target for the company from $398.00 to $397.00 in a research note on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $408.94.

Insider Activity

In related news, 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 transaction, the general counsel directly owned 20,254 shares of the company’s stock, valued at approximately $6,598,550.66. This represents a 19.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lester B. Knight purchased 4,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were bought at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the transaction, the director directly owned 143,000 shares in the company, valued at approximately $45,651,320. The trade was a 2.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.10% of the company’s stock.

AON Price Performance

Shares of AON opened at $339.06 on Friday. 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 plc has a twelve month low of $304.59 and a twelve month high of $407.07. The stock has a market capitalization of $72.65 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.80 and a beta of 0.82. The company has a 50 day moving average of $337.93 and a 200-day moving average of $348.55.

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

AON Announces Dividend

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