Gateway Advisory LLC purchased a new stake in Aon plc (NYSE:AON – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 602 shares of the financial services provider’s stock, valued at approximately $208,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. GoalVest Advisory LLC bought a new position in AON during the 2nd quarter worth approximately $25,000. ZRC Wealth Management LLC bought a new position in AON during the first quarter worth $26,000. Milestone Investment Advisors LLC acquired a new position in AON in the first quarter valued at $30,000. Quarry LP bought a new stake in AON during the first quarter valued at $31,000. Finally, Park Place Capital Corp grew its holdings in AON by 211.4% during the 1st quarter. Park Place Capital Corp now owns 109 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.
In other AON news, Director Byron Spruell purchased 800 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were bought at an average price of $324.57 per share, with a total value of $259,656.00. Following the completion of the transaction, the director now directly owns 4,001 shares in the company, valued at approximately $1,298,604.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.15% of the company’s stock.
AON Stock Down 1.2 %
AON (NYSE:AON – Get Free Report) last posted its quarterly earnings data on Friday, October 27th. The financial services provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.11. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.89 billion. AON had a negative return on equity of 1,685.76% and a net margin of 20.74%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.02 earnings per share. As a group, equities research analysts predict that Aon plc will post 14.35 EPS for the current fiscal year.
AON Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Tuesday, October 31st. AON’s payout ratio is 18.71%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on AON. Jefferies Financial Group boosted their price objective on AON from $331.00 to $339.00 in a research note on Friday, October 6th. Wells Fargo & Company cut AON from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $317.00 to $304.00 in a report on Monday, October 30th. StockNews.com assumed coverage on shares of AON in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Royal Bank of Canada cut their target price on shares of AON from $352.00 to $342.00 and set a “sector perform” rating on the stock in a research note on Monday, October 30th. Finally, Bank of America lifted their price target on shares of AON from $365.00 to $380.00 in a research note on Sunday, July 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, AON has an average rating of “Hold” and a consensus price target of $344.08.
Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.
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