Hudson Bay Capital Management LP Takes Position in Aon plc $AON

Hudson Bay Capital Management LP bought a new stake in shares of Aon plc (NYSE:AON) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 29,113 shares of the financial services provider’s stock, valued at approximately $10,381,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of AON by 1.2% in the third quarter. State Street Corp now owns 9,229,464 shares of the financial services provider’s stock valued at $3,291,048,000 after purchasing an additional 105,154 shares during the period. Bank of New York Mellon Corp lifted its holdings in AON by 5.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,715,346 shares of the financial services provider’s stock worth $1,324,818,000 after buying an additional 207,690 shares in the last quarter. Dodge & Cox purchased a new position in AON in the 3rd quarter valued at about $1,235,437,000. Neuberger Berman Group LLC boosted its position in AON by 12.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,330,363 shares of the financial services provider’s stock valued at $830,945,000 after buying an additional 249,549 shares during the last quarter. Finally, Farallon Capital Management LLC grew its stake in shares of AON by 14.7% during the third quarter. Farallon Capital Management LLC now owns 2,278,017 shares of the financial services provider’s stock valued at $812,295,000 after acquiring an additional 291,600 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Stock Down 0.3%

Shares of NYSE:AON opened at $316.92 on Friday. The company’s fifty day moving average is $332.11 and its two-hundred day moving average is $345.27. The company has a debt-to-equity ratio of 1.55, a quick ratio of 2.03 and a current ratio of 2.03. Aon plc has a 1-year low of $304.59 and a 1-year high of $402.49. The stock has a market capitalization of $67.90 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.74 and a beta of 0.82.

AON (NYSE:AON) last announced its quarterly earnings data 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. The business had revenue of $4.30 billion during 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 company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.42 EPS. Equities analysts anticipate that Aon plc will post 17.21 EPS for the current 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 issued a dividend of $0.745 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON’s dividend payout ratio is 17.51%.

Insider Buying and Selling

In related news, General Counsel Darren Zeidel sold 5,040 shares of the company’s stock in a transaction on 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 transaction, the general counsel directly owned 20,254 shares in the company, valued at $6,598,550.66. This represents a 19.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lester B. Knight bought 4,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was bought at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the transaction, the director directly owned 143,000 shares of the company’s stock, valued at $45,651,320. This trade represents a 2.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group set a $395.00 price target on AON in a research note on Wednesday, January 7th. JPMorgan Chase & Co. dropped their price objective on AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Wells Fargo & Company cut their target price on AON from $448.00 to $443.00 and set an “overweight” rating on the stock in a research report on Sunday, February 1st. Morgan Stanley set a $400.00 price target on shares of AON in a research report on Tuesday, December 16th. Finally, TD Cowen restated a “buy” rating on shares of AON in a research note on Monday. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $408.94.

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.