Morgan Stanley boosted its position in shares of Aon PLC (NYSE:AON) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 821,497 shares of the financial services provider’s stock after buying an additional 36,355 shares during the quarter. Morgan Stanley owned approximately 0.34% of AON worth $112,685,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Voya Investment Management LLC raised its position in shares of AON by 1.6% during the 2nd quarter. Voya Investment Management LLC now owns 92,050 shares of the financial services provider’s stock valued at $12,627,000 after acquiring an additional 1,447 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in AON during the 2nd quarter worth about $770,000. Providence Wealth Advisors LLC bought a new position in AON during the 2nd quarter worth about $556,000. First Republic Investment Management Inc. increased its holdings in AON by 2.0% during the 2nd quarter. First Republic Investment Management Inc. now owns 29,671 shares of the financial services provider’s stock worth $4,070,000 after purchasing an additional 582 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in AON by 1.3% during the 2nd quarter. Raymond James & Associates now owns 260,148 shares of the financial services provider’s stock worth $35,685,000 after purchasing an additional 3,311 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Jeffrey C. Campbell bought 5,550 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were acquired at an average price of $143.84 per share, for a total transaction of $798,312.00. Following the completion of the acquisition, the director now directly owns 7,084 shares in the company, valued at $1,018,962.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Caroline Grace sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $155.00, for a total transaction of $620,000.00. Following the completion of the transaction, the chief executive officer now owns 45,796 shares in the company, valued at approximately $7,098,380. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,750 shares of company stock worth $1,327,685. 0.42% of the stock is owned by company insiders.
AON (NYSE:AON) last issued its earnings results on Friday, July 27th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.08. AON had a net margin of 7.41% and a return on equity of 42.17%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the business posted $1.45 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts anticipate that Aon PLC will post 8.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.08%. AON’s dividend payout ratio (DPR) is presently 24.54%.
AON has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of AON from $167.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday. Credit Suisse Group set a $158.00 price objective on shares of AON and gave the stock a “hold” rating in a research note on Tuesday. Raymond James upgraded shares of AON from an “underperform” rating to an “outperform” rating in a research note on Tuesday, September 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $164.00 target price on shares of AON in a research note on Sunday, July 29th. Finally, Zacks Investment Research downgraded shares of AON from a “buy” rating to a “hold” rating in a research note on Friday, July 6th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $157.50.
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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