Maryland State Retirement & Pension System raised its position in shares of Aon plc (NYSE:AON – Free Report) by 1,074.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 131,998 shares of the financial services provider’s stock after buying an additional 120,760 shares during the quarter. Maryland State Retirement & Pension System owned about 0.06% of AON worth $36,533,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of AON. Diversify Advisory Services LLC increased its position in shares of AON by 5,225.7% during the third quarter. Diversify Advisory Services LLC now owns 194,070 shares of the financial services provider’s stock worth $53,713,000 after purchasing an additional 190,426 shares in the last quarter. NBT Bank N.A. purchased a new stake in shares of AON during the 3rd quarter valued at $10,117,000. Farmers & Merchants Investments Inc. boosted its position in shares of AON by 76,726.4% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 113,703 shares of the financial services provider’s stock worth $31,470,000 after purchasing an additional 113,555 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of AON by 638.1% in the 3rd quarter. Salem Investment Counselors Inc. now owns 5,639 shares of the financial services provider’s stock worth $1,561,000 after purchasing an additional 4,875 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in AON by 16.4% during the 2nd quarter. Wellington Management Group LLP now owns 106,370 shares of the financial services provider’s stock worth $35,282,000 after buying an additional 14,996 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on AON shares. Morgan Stanley reduced their target price on AON from $410.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Mizuho lowered their price target on AON from $366.00 to $324.00 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Zacks Research cut shares of AON from a “hold” rating to a “strong sell” rating in a report on Monday, October 26th. Wolfe Research lowered shares of AON from a “hold” rating to a “strong sell” rating in a report on Friday, September 11th. Finally, TD Cowen boosted their price objective on shares of AON from $416.00 to $420.00 and gave the company a “buy” rating in a report on Monday, September 14th. Thirteen 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $369.12.
Check Out Our Latest Stock Report on AON
AON Stock Performance
AON opened at $336.36 on Thursday. Aon plc has a 12-month low of $266.33 and a 12-month high of $382.34. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $71.36 billion, a PE ratio of 18.42, a P/E/G ratio of 1.77 and a beta of 0.63. The firm has a 50 day moving average of $300.58 and a two-hundred day moving average of $325.94.
AON (NYSE:AON – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $3.36 EPS for the quarter, beating the consensus estimate of $3.30 by $0.06. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.08 billion. AON had a net margin of 22.24% and a return on equity of 40.46%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.05 EPS. On average, analysts anticipate that Aon plc will post 18.47 EPS for the current year.
AON Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be given a dividend of $0.82 per share. The ex-dividend date is Monday, November 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. AON’s payout ratio is currently 17.96%.
Insider Transactions at AON
In other AON news, Director Lester Knight purchased 20,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were bought at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the acquisition, the director owned 163,000 shares in the company, valued at $53,379,240. This trade represents a 13.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.
AON Company Profile
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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