Moody National Bank Trust Division bought a new stake in shares of Aon plc (NYSE:AON – Get Rating) during the second quarter, HoldingsChannel reports. The firm bought 2,259 shares of the financial services provider’s stock, valued at approximately $609,000.
A number of other hedge funds have also recently modified their holdings of the business. City State Bank purchased a new position in shares of AON in the 4th quarter worth about $29,000. Steph & Co. purchased a new position in shares of AON in the 1st quarter worth about $33,000. J.W. Cole Advisors Inc. purchased a new position in shares of AON in the 1st quarter worth about $35,000. Massmutual Trust Co. FSB ADV raised its position in shares of AON by 71.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 110 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 46 shares during the last quarter. Finally, Tcwp LLC purchased a new position in shares of AON in the 1st quarter worth about $40,000. Institutional investors own 86.51% of the company’s stock.
Insider Activity at AON
In related news, Director Byron Spruell acquired 400 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was bought at an average cost of $291.72 per share, for a total transaction of $116,688.00. Following the purchase, the director now owns 2,743 shares in the company, valued at approximately $800,187.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Darren Zeidel sold 111 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $290.00, for a total value of $32,190.00. Following the transaction, the general counsel now owns 15,129 shares of the company’s stock, valued at $4,387,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Byron Spruell bought 400 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average cost of $291.72 per share, for a total transaction of $116,688.00. Following the acquisition, the director now directly owns 2,743 shares of the company’s stock, valued at approximately $800,187.96. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by corporate insiders.
AON Price Performance
AON (NYSE:AON – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.06. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.01 billion. AON had a return on equity of 204.19% and a net margin of 11.96%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. Equities research analysts anticipate that Aon plc will post 13.2 earnings per share for the current year.
AON Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.81%. AON’s dividend payout ratio (DPR) is presently 32.14%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on AON shares. The Goldman Sachs Group started coverage on AON in a research report on Tuesday, July 12th. They issued a “neutral” rating and a $301.00 target price for the company. TheStreet lowered AON from a “b” rating to a “c+” rating in a research report on Friday, July 29th. Morgan Stanley lowered AON from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $320.00 to $250.00 in a research report on Friday, June 3rd. Finally, Jefferies Financial Group decreased their target price on AON from $316.00 to $296.00 and set a “hold” rating for the company in a research report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, AON currently has a consensus rating of “Hold” and an average target price of $303.70.
Aon Plc operates as a global professional services firm. It provides advice and solutions to clients focused on risk, retirement, and health through the following products and services: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions, and Data and Analytic Services.
- Get a free copy of the StockNews.com research report on AON (AON)
- Kroger’s is Your One-Stop Consumer Staples Stock
- Adobe Perfects the Art of the Faceplant for Investors
- Tax Credits are the Incentives in the Inflation Reduction Act
- 3 Banks Worth Considering For Q4
- Stock Market: 3 Islands Of Strength In A Sea Of Red
Receive News & Ratings for AON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AON and related companies with MarketBeat.com's FREE daily email newsletter.