Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Aon PLC (NYSE:AON) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 359,871 shares of the financial services provider’s stock after acquiring an additional 22,840 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in AON were worth $55,341,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of AON by 15.3% during the second quarter. Renaissance Technologies LLC now owns 495,501 shares of the financial services provider’s stock valued at $67,968,000 after acquiring an additional 65,700 shares during the last quarter. CHICAGO TRUST Co NA acquired a new stake in shares of AON during the third quarter valued at $208,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of AON by 18.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,823 shares of the financial services provider’s stock valued at $1,210,000 after acquiring an additional 1,350 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of AON by 62.6% during the second quarter. OppenheimerFunds Inc. now owns 152,217 shares of the financial services provider’s stock valued at $20,879,000 after acquiring an additional 58,594 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its stake in shares of AON by 8.6% during the second quarter. Employees Retirement System of Texas now owns 75,540 shares of the financial services provider’s stock valued at $10,362,000 after acquiring an additional 5,950 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on AON shares. Credit Suisse Group started coverage on AON in a research note on Tuesday, August 7th. They set a “neutral” rating and a $154.00 price objective on the stock. Citigroup increased their price objective 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 price objective on AON and gave the company a “hold” rating in a research note on Friday, October 26th. Sandler O’Neill raised AON from a “hold” rating to a “buy” rating in a research note on Monday, October 29th. Finally, Raymond James raised AON from an “underperform” rating to an “outperform” rating in a research note on Tuesday, September 25th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $157.29.
NYSE AON opened at $158.18 on Tuesday. Aon PLC has a twelve month low of $130.87 and a twelve month high of $159.72. The stock has a market cap of $37.62 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 1.63 and a beta of 0.85. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.31.
AON (NYSE:AON) last released its earnings results on Friday, October 26th. The financial services provider reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.09. AON had a return on equity of 43.96% and a net margin of 7.06%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Aon PLC will post 8.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $1.60 annualized dividend and a yield of 1.01%. AON’s dividend payout ratio (DPR) is presently 24.54%.
In related news, insider Michael Neller sold 750 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $143.58, for a total transaction of $107,685.00. Following the transaction, the insider now directly owns 787 shares in the company, valued at $112,997.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Caroline Grace sold 4,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $155.00, for a total value of $620,000.00. Following the transaction, the chief executive officer now owns 45,796 shares in the company, valued at $7,098,380. The disclosure for this sale can be found here. Insiders have sold 8,750 shares of company stock worth $1,327,685 over the last quarter. 0.42% of the stock is currently owned by company insiders.
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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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