Cambria Investment Management L.P. Takes $1.11 Million Position in Aon plc $AON

Cambria Investment Management L.P. purchased a new position in Aon plc (NYSE:AON) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,112 shares of the financial services provider’s stock, valued at approximately $1,110,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. boosted its position in AON by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock valued at $25,000 after buying an additional 35 shares during the period. Wealth Watch Advisors INC purchased a new position in shares of AON during the third quarter worth approximately $25,000. Heartwood Wealth Advisors LLC bought a new stake in shares of AON during the third quarter valued at approximately $29,000. Salomon & Ludwin LLC purchased a new stake in shares of AON in the third quarter valued at approximately $31,000. Finally, Strive Asset Management LLC bought a new position in AON in the third quarter worth approximately $35,000. Institutional investors own 86.14% of the company’s stock.

AON Price Performance

Shares of AON stock opened at $316.92 on Friday. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $402.49. The company has a debt-to-equity ratio of 1.55, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market capitalization of $67.90 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.74 and a beta of 0.82. The stock’s 50-day simple moving average is $332.11 and its 200-day simple moving average is $345.27.

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

AON Announces Dividend

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

Insiders Place Their Bets

In other AON news, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction dated 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 completion of the sale, the general counsel owned 20,254 shares of the company’s stock, valued at approximately $6,598,550.66. The trade was a 19.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lester B. Knight purchased 4,000 shares of the company’s stock in a transaction on 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 purchase, the director owned 143,000 shares in the company, valued at approximately $45,651,320. The trade was a 2.88% increase in their position. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Cowen restated a “buy” rating on shares of AON in a report on Monday. Morgan Stanley set a $400.00 price target on AON in a research report on Tuesday, December 16th. Barclays raised their price target on AON from $379.00 to $381.00 and gave the company an “equal weight” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of AON from $433.00 to $406.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Finally, UBS Group reiterated a “neutral” rating and set a $385.00 target price on shares of AON in a report on Monday, February 2nd. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $408.94.

AON Company 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.