Renaissance Technologies LLC Acquires New Position in Aon plc $AON

Renaissance Technologies LLC bought a new position in shares of Aon plc (NYSE:AON) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 11,601 shares of the financial services provider’s stock, valued at approximately $3,745,000.

A number of other large investors have also modified their holdings of AON. City National Bank of Florida MSD grew its stake in AON by 3.8% in the fourth quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 32 shares in the last quarter. Salomon & Ludwin LLC raised its stake in shares of AON by 39.3% during the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 33 shares in the last quarter. Mattern Capital Management LLC lifted its holdings in shares of AON by 0.8% during the 4th quarter. Mattern Capital Management LLC now owns 3,974 shares of the financial services provider’s stock valued at $1,402,000 after buying an additional 33 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of AON by 2.6% in the 4th quarter. CENTRAL TRUST Co now owns 1,341 shares of the financial services provider’s stock valued at $473,000 after buying an additional 34 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in AON by 0.4% in the fourth quarter. Larson Financial Group LLC now owns 9,584 shares of the financial services provider’s stock worth $3,382,000 after buying an additional 34 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AON

In other news, General Counsel Darren Zeidel sold 1,900 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total value of $717,744.00. Following the completion of the transaction, the general counsel owned 11,504 shares in the company, valued at approximately $4,345,751.04. This represents a 14.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 4,450 shares of company stock valued at $1,659,242. Insiders own 1.00% of the company’s stock.

AON Stock Down 0.9%

Shares of AON opened at $357.68 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54. The company has a 50-day simple moving average of $345.11 and a 200-day simple moving average of $332.52. Aon plc has a 52 week low of $304.59 and a 52 week high of $382.34. The firm has a market capitalization of $75.87 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.86 and a beta of 0.69.

AON (NYSE:AON) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.01. AON had a return on equity of 42.13% and a net margin of 22.27%.The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company posted $3.49 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that Aon plc will post 19.06 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. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. AON’s payout ratio is currently 18.08%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AON. Morgan Stanley lifted their target price on shares of AON from $370.00 to $380.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Wall Street Zen downgraded shares of AON from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of AON from $396.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Weiss Ratings reissued a “hold (c)” rating on shares of AON in a research report on Friday, July 17th. Finally, Piper Sandler boosted their price target on AON from $377.00 to $391.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Twelve 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, AON presently has a consensus rating of “Moderate Buy” and a consensus price target of $410.75.

AON Company 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.