Ironvine Capital Partners LLC Grows Position in Aon plc $AON

Ironvine Capital Partners LLC lifted its holdings in shares of Aon plc (NYSE:AON) by 11.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 119,841 shares of the financial services provider’s stock after acquiring an additional 12,153 shares during the quarter. AON makes up about 3.5% of Ironvine Capital Partners LLC’s portfolio, making the stock its 9th biggest holding. Ironvine Capital Partners LLC’s holdings in AON were worth $39,750,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. City National Bank of Florida MSD boosted its position in AON by 3.8% during the fourth quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 32 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of AON by 5.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 33 shares during the period. CENTRAL TRUST Co lifted its stake in shares of AON by 2.6% during the 4th quarter. CENTRAL TRUST Co now owns 1,341 shares of the financial services provider’s stock worth $473,000 after buying an additional 34 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of AON by 0.4% during the 4th 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 period. Finally, Aspen Grove Capital LLC grew its stake in AON by 4.8% in the 1st quarter. Aspen Grove Capital LLC now owns 737 shares of the financial services provider’s stock valued at $238,000 after buying an additional 34 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AON. TD Cowen reissued a “buy” rating on shares of AON in a report on Tuesday. Weiss Ratings raised AON from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 19th. Barclays increased their target price on AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Wells Fargo & Company decreased their price objective on AON from $419.00 to $383.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of AON from $396.00 to $412.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $399.88.

AON Price Performance

Shares of NYSE AON opened at $326.51 on Wednesday. The stock has a market capitalization of $69.26 billion, a PE ratio of 18.00, a P/E/G ratio of 1.66 and a beta of 0.66. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $382.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day moving average price of $353.36 and a two-hundred day moving average price of $334.07.

AON (NYSE:AON) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.01. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%.AON’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $3.49 earnings per share. As a group, equities analysts predict that Aon plc will post 19.05 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.82 per share. The ex-dividend date was Monday, August 3rd. This represents a $3.28 annualized dividend and a yield of 1.0%. AON’s dividend payout ratio is presently 18.08%.

AON News Roundup

Here are the key news stories impacting AON this week:

• Positive Sentiment: Analysts maintain bullish ratings: Keefe, Bruyette & Woods raised its price target to $417 from $412 and kept an “outperform” rating. Cantor Fitzgerald maintained “overweight” with a $433 target, while Mizuho retained “outperform” despite reducing its target to $398. All targets imply substantial upside from the referenced share price.
• Positive Sentiment: USI expands Aon’s middle-market and specialty capabilities: The acquisition would strengthen Aon’s reach among medium-sized businesses, add risk management, health benefits and retirement-plan services, and increase exposure to the fast-growing excess and surplus insurance market. Aon expects $395 million in annual run-rate adjusted EBITDA benefits from revenue and cost synergies and adjusted-EPS accretion beginning in 2028. Aon to acquire USI to establish the premier U.S. middle-market platform
• Neutral Sentiment: Transaction remains subject to closing conditions: The deal is expected to close in the fourth quarter, pending regulatory approvals. USI CEO Mike Sicard is expected to become Aon’s president and global CEO of Middle Market after completion. Aon CEO says insurance broker seeks to build premier middle-market platform
• Negative Sentiment: Large debt-funded purchase raises financial and execution concerns: Aon plans to finance the $17 billion transaction with new debt, increasing leverage and placing pressure on management to realize projected synergies. Investors have characterized the acquisition as an expensive bet on middle-market growth, contributing to a sharp decline in the shares after the announcement. Aon’s $17 billion USI deal: A costly bet on middle-market growth

Insider Buying and Selling at AON

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

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.