CIBC Bancorp USA Inc. Takes $20.75 Million Position in Aon plc $AON

CIBC Bancorp USA Inc. acquired a new stake in shares of Aon plc (NYSE:AON) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 58,181 shares of the financial services provider’s stock, valued at approximately $20,746,000.

Other large investors have also recently bought and sold shares of the company. Matrix Trust Co boosted its stake in AON by 7.1% in the third 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 period. Busey Bank raised its position in shares of AON by 0.3% during the 3rd quarter. Busey Bank now owns 9,565 shares of the financial services provider’s stock worth $3,411,000 after purchasing an additional 33 shares during the period. Westpac Banking Corp lifted its holdings in shares of AON by 5.6% in the 3rd 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 last quarter. Mill Creek Capital Advisors LLC boosted its position in AON by 5.9% during the 3rd quarter. Mill Creek Capital Advisors LLC now owns 615 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 34 shares during the period. Finally, KCM Investment Advisors LLC grew its stake in AON by 5.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 636 shares of the financial services provider’s stock worth $227,000 after buying an additional 34 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

AON Trading Down 0.9%

Shares of NYSE:AON opened at $318.20 on Thursday. Aon plc has a twelve month low of $304.59 and a twelve month high of $402.49. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.55. The firm has a market cap of $68.18 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.70 and a beta of 0.82. The company has a 50 day moving average of $332.81 and a 200-day moving average of $345.46.

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

AON Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, February 2nd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON’s dividend payout ratio (DPR) is 17.51%.

Wall Street Analyst Weigh In

AON has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on AON from $448.00 to $443.00 and set an “overweight” rating on the stock in a research note on Sunday, February 1st. Mizuho raised shares of AON from a “neutral” rating to an “outperform” rating and set a $397.00 price objective on the stock in a report on Friday, February 27th. Cantor Fitzgerald boosted their target price on shares of AON from $393.00 to $412.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods raised their price target 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. Finally, Evercore reissued an “outperform” rating and issued a $436.00 price objective on shares of AON in a report on Wednesday, January 7th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, AON has an average rating of “Moderate Buy” and an average target price of $408.94.

Insider Buying and Selling

In other news, General Counsel Darren Zeidel sold 5,040 shares of the business’s 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 of the company’s stock, valued at $6,598,550.66. The trade was a 19.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lester B. Knight purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the transaction, the director directly owned 143,000 shares in the company, valued at $45,651,320. This trade represents a 2.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by insiders.

AON 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.