Aon plc $AON is Prana Capital Management LP’s 5th Largest Position

Prana Capital Management LP decreased its position in shares of Aon plc (NYSE:AON) by 34.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 340,562 shares of the financial services provider’s stock after selling 176,945 shares during the period. AON accounts for approximately 4.0% of Prana Capital Management LP’s portfolio, making the stock its 5th biggest position. Prana Capital Management LP owned about 0.16% of AON worth $121,438,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new position in AON in the second quarter worth approximately $3,681,000. Nomura Asset Management Co. Ltd. lifted its stake in AON by 0.4% in the second quarter. Nomura Asset Management Co. Ltd. now owns 174,704 shares of the financial services provider’s stock valued at $62,327,000 after acquiring an additional 760 shares during the last quarter. Intrust Bank NA grew its position in AON by 22.4% in the second quarter. Intrust Bank NA now owns 1,113 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 204 shares in the last quarter. Nordwand Advisors LLC acquired a new position in shares of AON during the 2nd quarter worth $565,000. Finally, Vanguard Group Inc. raised its holdings in shares of AON by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock valued at $7,238,569,000 after purchasing an additional 511,292 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AON shares. UBS Group reiterated a “neutral” rating and issued a $385.00 price objective on shares of AON in a report on Monday, February 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $408.00 price target on shares of AON in a research report on Monday, February 2nd. Keefe, Bruyette & Woods upped 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. TD Cowen reissued a “buy” rating on shares of AON in a report on Monday. Finally, Cantor Fitzgerald boosted their target price on AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s 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 Stock Down 1.6%

AON stock opened at $321.54 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $402.49. The firm has a fifty day moving average price of $333.45 and a two-hundred day moving average price of $345.66. The firm has a market cap of $68.89 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 1.73 and a beta of 0.82.

AON (NYSE:AON) last issued its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period last year, the business posted $4.42 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that Aon plc will post 17.21 earnings per share for the current year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a $0.745 dividend. 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 currently 17.51%.

Insider Buying and Selling

In related news, Director Lester B. Knight bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the completion of the transaction, the director owned 143,000 shares of the company’s stock, valued at $45,651,320. The trade was a 2.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Darren Zeidel sold 5,040 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

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.