Keybank National Association OH raised its stake in Aon plc (NYSE:AON – Free Report) by 582.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,914 shares of the financial services provider’s stock after buying an additional 41,747 shares during the period. Keybank National Association OH’s holdings in AON were worth $13,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. increased its position in shares of AON by 11,179.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,026,135 shares of the financial services provider’s stock worth $1,114,313,000 after acquiring an additional 3,990,441 shares during the period. Retirement Systems of Alabama raised its stake in shares of AON by 2,986.4% during the third quarter. Retirement Systems of Alabama now owns 1,384,829 shares of the financial services provider’s stock valued at $383,279,000 after acquiring an additional 1,339,960 shares in the last quarter. Ninety One UK Ltd boosted its holdings in shares of AON by 419.8% in the third quarter. Ninety One UK Ltd now owns 836,932 shares of the financial services provider’s stock valued at $231,638,000 after purchasing an additional 675,919 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of AON by 74.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 797,418 shares of the financial services provider’s stock valued at $257,391,000 after purchasing an additional 340,866 shares during the period. Finally, Kestra Advisory Services LLC grew its stake in AON by 754.4% in the third quarter. Kestra Advisory Services LLC now owns 380,635 shares of the financial services provider’s stock worth $105,348,000 after purchasing an additional 336,085 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.
Insider Activity
In other AON news, Director Lester Knight acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was purchased at an average price of $327.48 per share, for a total transaction of $6,549,600.00. Following the acquisition, the director owned 163,000 shares in the company, valued at approximately $53,379,240. This trade represents a 13.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.
AON Stock Up 0.0%
Shares of AON stock opened at $336.36 on Thursday. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 2.58. The company has a market cap of $71.36 billion, a P/E ratio of 18.42, a PEG ratio of 1.77 and a beta of 0.63. The firm’s 50 day moving average price is $300.58 and its 200-day moving average price is $325.94. Aon plc has a 52-week low of $266.33 and a 52-week high of $382.34.
AON (NYSE:AON – Get Free Report) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $3.36 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.06. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. AON had a net margin of 22.24% and a return on equity of 40.46%. AON’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.05 earnings per share. On average, sell-side analysts predict that Aon plc will post 18.47 EPS for the current fiscal year.
AON Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. AON’s dividend payout ratio is presently 17.96%.
Wall Street Analyst Weigh In
AON has been the topic of several research reports. Wells Fargo & Company raised their price objective on AON from $323.00 to $364.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Barclays lowered their target price on AON from $382.00 to $317.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. UBS Group dropped their price target on AON from $387.00 to $356.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Wolfe Research lowered AON from a “hold” rating to a “strong sell” rating in a research note on Friday, September 11th. Finally, Wall Street Zen downgraded AON from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $369.12.
About AON
Aon plc is a global professional services firm that helps organizations manage risk and make decisions about their people and finances. Its services include insurance brokerage, risk consulting, reinsurance solutions, employee benefits consulting and retirement and investment advisory services. The company serves businesses and institutions across a broad range of industries and geographies. Aon was formed in 1982 as Ryan Insurance Group and adopted the Aon name in 1987. It is headquartered in Dublin, Ireland, and operates internationally.
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