Intech Investment Management LLC Purchases 22,899 Shares of Aon plc $AON

by · The Markets Daily

Intech Investment Management LLC grew its holdings in Aon plc (NYSE:AON – Free Report) by 50.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,456 shares of the financial services provider’s stock after purchasing an additional 22,899 shares during the quarter. Intech Investment Management LLC’s holdings in AON were worth $24,410,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Silver Lake Advisory LLC acquired a new stake in shares of AON during the 3rd quarter worth approximately $1,292,000. Callan Family Office LLC lifted its position in AON by 220.7% in the third quarter. Callan Family Office LLC now owns 11,675 shares of the financial services provider’s stock worth $4,163,000 after purchasing an additional 8,034 shares during the period. Caprock Group LLC acquired a new stake in AON during the third quarter worth $1,752,000. Veritas Asset Management LLP increased its holdings in AON by 19.3% in the 3rd quarter. Veritas Asset Management LLP now owns 2,053,673 shares of the financial services provider’s stock valued at $732,299,000 after buying an additional 332,685 shares during the period. Finally, National Pension Service raised its stake in shares of AON by 1.0% in the 3rd quarter. National Pension Service now owns 420,423 shares of the financial services provider’s stock valued at $149,914,000 after buying an additional 3,962 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Trading Up 1.7%

Shares of AON opened at $324.90 on Thursday. 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 company has a market cap of $69.61 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.68 and a beta of 0.83. The stock has a fifty day moving average price of $340.03 and a two-hundred day moving average price of $349.68. Aon plc has a 52-week low of $304.59 and a 52-week high of $412.97.

AON (NYSE:AON – Get Free Report) last announced its earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.75 by $0.10. AON had a return on equity of 45.23% and a net margin of 21.51%.The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period last year, the company posted $4.42 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given 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 is presently 17.51%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group reiterated a “neutral” rating and set a $385.00 target price on shares of AON in a research report on Monday, February 2nd. Cantor Fitzgerald raised their price target on shares of AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. TD Cowen lowered their price objective on AON from $419.00 to $416.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Barclays raised their target price on AON from $379.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Finally, Evercore reaffirmed an “outperform” rating and issued a $436.00 price target on shares of AON in a research note on Wednesday, January 7th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $409.75.

Check Out Our Latest Stock Report on AON

Insider Activity at AON

In other news, Director Lester B. Knight acquired 4,000 shares of AON stock in a transaction on Tuesday, February 10th. The shares were purchased at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the acquisition, the director owned 143,000 shares in the company, valued at $45,651,320. This represents a 2.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the general counsel directly owned 20,254 shares of the company’s stock, valued at $6,598,550.66. This trade represents a 19.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

AON Company Profile

(Free Report)

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.

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