AON (NYSE:AON) General Counsel Darren Zeidel Sells 1,900 Shares of Stock

Key Points

• Aon General Counsel Darren Zeidel sold 1,900 shares at an average price of $377.76, generating $717,744 and reducing his direct ownership by 14.17% to 11,504 shares. He had also sold shares earlier in July.
• Aon shares fell 2.6% to $367.26, despite the company reporting quarterly EPS of $3.81, slightly ahead of estimates. Revenue rose 2.2% year over year to $4.25 billion but came in below analysts’ $4.28 billion forecast.
• The company declared a quarterly dividend of $0.82 per share, equivalent to an annualized $3.28 dividend and a 0.9% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $407.19.

Aon plc (NYSE:AON - Get Free Report) General Counsel Darren Zeidel sold 1,900 shares of AON stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total transaction of $717,744.00. Following the completion of the transaction, the general counsel directly owned 11,504 shares in the company, valued at approximately $4,345,751.04. The trade was a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Darren Zeidel also recently made the following trade(s):

• On Friday, July 17th, Darren Zeidel sold 1,950 shares of AON stock. The shares were sold at an average price of $372.05, for a total transaction of $725,497.50.
• On Tuesday, July 7th, Darren Zeidel sold 600 shares of AON stock. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00.

AON Trading Down 2.6%

Shares of NYSE:AON traded down $9.90 during midday trading on Thursday, hitting $367.26. 4,227,682 shares of the stock traded hands, compared to its average volume of 1,506,710. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The business's 50 day moving average is $339.64 and its two-hundred day moving average is $331.76. The stock has a market capitalization of $78.44 billion, a PE ratio of 20.16, a P/E/G ratio of 2.00 and a beta of 0.71. Aon plc has a one year low of $304.59 and a one year high of $382.34.

AON (NYSE:AON - Get Free Report) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.01. AON had a return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.28 billion. During the same period last year, the firm earned $3.49 earnings per share. AON's quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts forecast that Aon plc will post 19.09 earnings per share for the current year.

AON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON's dividend payout ratio (DPR) is currently 18.00%.

More AON News

Here are the key news stories impacting AON this week:

• Positive Sentiment: Analysts raised price targets: Citigroup increased its target from $420 to $435 and upgraded AON to “Buy,” while Wells Fargo raised its target from $406 to $419 and maintained an “Overweight” rating. The firms cited upside potential following the results. Benzinga analyst rating reports
• Positive Sentiment: Profitability exceeded expectations: Aon reported second-quarter adjusted earnings of $3.81 per share, ahead of the approximately $3.80 consensus and up from $3.49 a year earlier. Results were supported by new-business wins, strong client retention, organic growth and operating-margin expansion. Aon Q2 earnings beat article
• Positive Sentiment: Capital returns and guidance were supportive: Reinsurance and property-and-casualty businesses helped drive second-quarter growth, while Aon reportedly accelerated share repurchases to a record pace. Management reaffirmed its full-year guidance, reducing concerns about a material deterioration in the outlook. Aon buyback and business growth article
• Neutral Sentiment: Revenue growth remained positive but modest: Total revenue rose 2.2% year over year to $4.25 billion, with organic revenue growth of 5%. However, the result was below the $4.28 billion analyst consensus, making revenue execution the key issue for investors. Aon second-quarter results
• Negative Sentiment: The revenue miss overshadowed the EPS beat: Initial market coverage characterized the reaction as negative because Aon’s top-line performance fell short of expectations. The stock also faces some valuation sensitivity after trading near its 52-week high, increasing the market’s demand for stronger revenue growth. Aon earnings revenue miss article
• Negative Sentiment: Insider selling was a minor cautionary signal: General Counsel Darren Zeidel sold 1,950 shares worth approximately $725,500, following an earlier sale. The transaction is small relative to AON’s market value but may add modest pressure to sentiment. Aon insider sale article

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. City National Bank of Florida MSD grew its holdings in AON by 3.8% in 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. Salomon & Ludwin LLC lifted its holdings in shares of AON by 39.3% during the fourth quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 33 shares during the last quarter. Mattern Capital Management LLC boosted its position in shares of AON by 0.8% in the 4th quarter. Mattern Capital Management LLC now owns 3,974 shares of the financial services provider's stock worth $1,402,000 after purchasing an additional 33 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in AON by 5.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider's stock valued at $216,000 after buying an additional 33 shares in the last quarter. Finally, Seascape Capital Management raised its stake in AON by 0.3% during the fourth quarter. Seascape Capital Management now owns 11,030 shares of the financial services provider's stock valued at $3,892,000 after buying an additional 34 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on AON from $396.00 to $412.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. UBS Group upped their price objective on shares of AON from $360.00 to $383.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of AON from $404.00 to $400.00 and set an "outperform" rating for the company in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their target price on shares of AON from $406.00 to $419.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Mizuho raised their price objective on shares of AON from $389.00 to $426.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued 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 $407.19.

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.

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