Alberta Investment Management Corp Takes $1.07 Million Position in Aon plc $AON

Alberta Investment Management Corp purchased a new position in Aon plc (NYSE:AON) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the financial services provider’s stock, valued at approximately $1,070,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Matrix Trust Co raised its position in shares of AON by 7.1% during the 3rd quarter. Matrix Trust Co now owns 422 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 28 shares during the last quarter. Busey Bank boosted its holdings in AON by 0.3% in the 3rd 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 last quarter. Rossby Financial LCC increased its position in shares of AON by 9.1% during the 2nd quarter. Rossby Financial LCC now owns 406 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 34 shares during the last quarter. Heritage Family Offices LLP increased its holdings in 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 purchasing an additional 35 shares during the last quarter. Finally, Martin Investment Management LLC lifted its stake in AON by 1.8% during the 3rd quarter. Martin Investment Management LLC now owns 1,985 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AON. Jefferies Financial Group reaffirmed a “buy” rating and set a $408.00 price objective on shares of AON in a report on Monday, February 2nd. Citigroup upped their target price on AON from $402.00 to $412.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AON in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on AON from $410.00 to $416.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $400.00 price objective on AON in a research report on Tuesday, December 16th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, AON has an average rating of “Moderate Buy” and an average target price of $409.75.

AON Stock Performance

NYSE AON opened at $324.20 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.35 and a debt-to-equity ratio of 1.55. The firm has a market cap of $69.46 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.65 and a beta of 0.83. The company has a 50 day moving average of $342.56 and a 200-day moving average of $350.95. Aon plc has a 1-year low of $304.59 and a 1-year high of $412.97.

AON (NYSE:AON) last posted its earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.38 billion. During the same period in the previous year, the company posted $4.42 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, February 2nd. AON’s dividend payout ratio (DPR) is currently 17.51%.

Insider Activity at AON

In other news, Director Lester B. Knight purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were purchased at an average price of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the acquisition, the director directly owned 143,000 shares in the company, valued at $45,651,320. This represents a 2.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total value of $1,641,981.60. Following the transaction, the general counsel owned 20,254 shares in the company, valued at $6,598,550.66. This trade represents a 19.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

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.