NewEdge Wealth LLC Boosts Stock Holdings in Aon plc $AON

NewEdge Wealth LLC raised its holdings in Aon plc (NYSE:AON) by 25.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,997 shares of the financial services provider’s stock after purchasing an additional 1,601 shares during the quarter. NewEdge Wealth LLC’s holdings in AON were worth $2,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of AON by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock worth $7,238,569,000 after purchasing an additional 511,292 shares during the period. Geode Capital Management LLC lifted its position in shares of AON by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 5,588,279 shares of the financial services provider’s stock valued at $1,987,961,000 after buying an additional 173,722 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AON by 5.9% during 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 acquiring an additional 207,690 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in AON by 13.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,706,904 shares of the financial services provider’s stock worth $965,715,000 after acquiring an additional 316,333 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in AON by 1.9% during the second quarter. Artisan Partners Limited Partnership now owns 2,176,045 shares of the financial services provider’s stock valued at $776,326,000 after purchasing an additional 40,213 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

AON Stock Performance

Shares of AON opened at $325.14 on Friday. Aon plc has a 52 week low of $304.59 and a 52 week high of $412.97. The company has a quick ratio of 1.35, a current ratio of 2.03 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average price is $341.99 and its 200-day moving average price is $350.70. The stock has a market cap of $69.67 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.66 and a beta of 0.83.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.75 by $0.10. AON had a net margin of 21.51% and a return on equity of 45.23%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter last year, the firm earned $4.42 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.745 per share. 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 Activity at AON

In other AON news, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction that occurred 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 $6,598,550.66. The trade was a 19.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lester B. Knight bought 4,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were purchased at an average price of $319.24 per share, for a total transaction of $1,276,960.00. Following the purchase, the director owned 143,000 shares in the company, valued at $45,651,320. This represents a 2.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their target price on AON from $410.00 to $416.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Barclays increased their price objective on AON from $379.00 to $381.00 and gave the stock an “equal weight” rating in a report on Thursday, January 8th. TD Cowen decreased their price target on AON from $419.00 to $416.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Citigroup raised their price objective on shares of AON from $402.00 to $412.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Finally, Cantor Fitzgerald upped their target price on shares of AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, AON presently has an average rating of “Moderate Buy” and a consensus target price of $409.75.

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.