Bell Asset Management Ltd Decreases Stock Position in Aon plc $AON

Bell Asset Management Ltd decreased its position in shares of Aon plc (NYSE:AON) by 23.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,075 shares of the financial services provider’s stock after selling 5,954 shares during the quarter. AON makes up 1.9% of Bell Asset Management Ltd’s holdings, making the stock its 10th largest holding. Bell Asset Management Ltd’s holdings in AON were worth $6,802,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new stake in AON during the 2nd quarter valued at approximately $31,000. Andra AP fonden bought a new position in AON in the 2nd quarter worth approximately $81,000. Savant Capital LLC grew its holdings in AON by 0.9% during the 2nd quarter. Savant Capital LLC now owns 11,580 shares of the financial services provider’s stock valued at $4,131,000 after buying an additional 102 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of AON by 29.3% during the second quarter. Vestmark Advisory Solutions Inc. now owns 11,543 shares of the financial services provider’s stock valued at $4,118,000 after buying an additional 2,618 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of AON in the second quarter worth $379,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AON shares. Morgan Stanley set a $400.00 target price on shares of AON in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods increased their price objective on shares of AON from $410.00 to $416.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Bank of America upgraded AON from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $398.00 to $397.00 in a research report on Friday, February 27th. The Goldman Sachs Group set a $395.00 target price on AON in a research report on Wednesday, January 7th. Finally, Evercore reissued an “outperform” rating and set a $436.00 price target on shares of AON in a research note on Wednesday, January 7th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $408.94.

AON Price Performance

AON stock opened at $340.49 on Monday. Aon plc has a 52 week low of $304.59 and a 52 week high of $407.07. The firm has a market capitalization of $72.95 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 1.79 and a beta of 0.82. The company has a fifty day simple moving average of $337.61 and a two-hundred day simple moving average of $348.02. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.55.

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 analysts’ consensus estimates of $4.75 by $0.10. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.38 billion. AON had a net margin of 21.51% and a return on equity of 45.23%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.42 EPS. Analysts anticipate 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. Shareholders of record on Monday, February 2nd were paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, February 2nd. AON’s payout ratio is presently 17.51%.

Insider Buying and Selling

In other news, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total value of $1,641,981.60. Following the completion of the transaction, the general counsel owned 20,254 shares in the company, valued at approximately $6,598,550.66. The trade was a 19.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lester B. Knight bought 4,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were bought at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the transaction, 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. Corporate 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.