Aon plc $AON Stock: Joel Isaacson & Co. LLC Increases Holdings

Joel Isaacson & Co. LLC boosted its stake in shares of Aon plc (NYSE:AON) by 693.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,128 shares of the financial services provider’s stock after buying an additional 17,590 shares during the period. Joel Isaacson & Co. LLC’s holdings in AON were worth $5,571,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of AON by 11,179.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,026,135 shares of the financial services provider’s stock valued at $1,114,313,000 after buying an additional 3,990,441 shares during the period. Bank of America Corp DE increased its position in shares of AON by 16.3% during the first quarter. Bank of America Corp DE now owns 1,582,680 shares of the financial services provider’s stock worth $510,857,000 after acquiring an additional 222,092 shares in the last quarter. Amundi raised its holdings in shares of AON by 23.5% during the first quarter. Amundi now owns 1,502,890 shares of the financial services provider’s stock worth $485,103,000 after acquiring an additional 285,549 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of AON by 20.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,253,769 shares of the financial services provider’s stock worth $404,709,000 after acquiring an additional 213,051 shares during the period. Finally, Retirement Systems of Alabama lifted its position in AON by 2,986.4% in the 3rd quarter. Retirement Systems of Alabama now owns 1,384,829 shares of the financial services provider’s stock valued at $383,279,000 after acquiring an additional 1,339,960 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AON. Citigroup started coverage on shares of AON in a research note on Monday, September 21st. They issued a “buy” rating and a $435.00 target price for the company. JPMorgan Chase & Co. cut their price target on AON from $412.00 to $362.00 and set an “overweight” rating on the stock in a report on Thursday, October 1st. Wolfe Research lowered AON from a “hold” rating to a “strong sell” rating in a report on Friday, September 11th. Bank of America upped their price objective on AON from $298.00 to $327.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods decreased their price objective on AON from $417.00 to $342.00 and set an “outperform” rating for the company in a report on Monday, October 12th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $369.12.

AON Stock Performance

Shares of AON stock opened at $336.36 on Thursday. The company’s fifty day simple moving average is $300.58 and its 200-day simple moving average is $325.94. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 2.58. The firm has a market cap of $71.36 billion, a PE ratio of 18.42, a P/E/G ratio of 1.77 and a beta of 0.63. Aon plc has a 12 month low of $266.33 and a 12 month high of $382.34.

AON (NYSE:AON) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $3.36 EPS for the quarter, topping the consensus estimate of $3.30 by $0.06. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. AON had a net margin of 22.24% and a return on equity of 40.46%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.05 earnings per share. Equities research analysts expect that Aon plc will post 18.47 EPS for the current fiscal year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.28 annualized dividend and a yield of 1.0%. AON’s payout ratio is 17.96%.

Insider Buying and Selling

In other AON news, Director Lester Knight acquired 20,000 shares of AON stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the purchase, the director directly owned 163,000 shares in the company, valued at approximately $53,379,240. This represents a 13.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

About AON

Aon plc is a global professional services firm that helps organizations manage risk and make decisions about their people and finances. Its services include insurance brokerage, risk consulting, reinsurance solutions, employee benefits consulting and retirement and investment advisory services. The company serves businesses and institutions across a broad range of industries and geographies. Aon was formed in 1982 as Ryan Insurance Group and adopted the Aon name in 1987. It is headquartered in Dublin, Ireland, and operates internationally.