Healthcare of Ontario Pension Plan Trust Fund Increases Stake in Aon plc $AON

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Aon plc (NYSE:AON) by 284.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,373 shares of the financial services provider’s stock after purchasing an additional 117,877 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of AON worth $51,442,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wealth Watch Advisors INC acquired a new position in AON during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in AON during the 4th quarter valued at about $27,000. Kemnay Advisory Services Inc. acquired a new stake in AON in the 4th quarter valued at about $29,000. Eagle Bay Advisors LLC purchased a new position in AON in the 4th quarter worth approximately $30,000. Finally, Strive Asset Management LLC acquired a new position in shares of AON during the 3rd quarter worth approximately $35,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Up 1.5%

Shares of NYSE AON opened at $361.26 on Friday. The company has a market capitalization of $77.16 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.89 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The company has a 50 day simple moving average of $336.57 and a 200-day simple moving average of $331.38. Aon plc has a 1 year low of $304.59 and a 1 year high of $381.00.

AON (NYSE:AON) last released its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.67 earnings per share. On average, equities research analysts predict that Aon plc will post 19.09 earnings per share for the current year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 3rd. AON’s dividend payout ratio is 18.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AON. Barclays upped their price target on AON from $372.00 to $382.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Mizuho boosted their price objective on AON from $389.00 to $426.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Citigroup upped their target price on AON from $412.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Piper Sandler downgraded AON from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $355.00 to $377.00 in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AON in a research report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $404.56.

Insider Buying and Selling at AON

In other news, General Counsel Darren Zeidel sold 600 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the transaction, the general counsel directly owned 15,354 shares in the company, valued at approximately $5,527,440. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

AON Profile

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.