15,913 Aon plc $AON Shares Bought by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC increased its Aon stake by 495% in the third quarter, buying 15,913 shares to hold 19,128 shares valued at approximately $5.3 million. Institutional investors collectively own 86.14% of Aon.
• Aon’s latest quarterly results slightly beat earnings expectations, with EPS of $3.81, while revenue rose 2.2% year over year to $4.25 billion. The company also declared a quarterly dividend of $0.82 per share, representing a 1.1% yield.
• Analyst sentiment remains moderately bullish, with a consensus price target of $367.59, though several firms recently cut their targets. Shares opened at $292.28, well below the 52-week high of $382.34.

Frank Rimerman Advisors LLC boosted its stake in shares of Aon plc (NYSE:AON - Free Report) by 495.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,128 shares of the financial services provider's stock after purchasing an additional 15,913 shares during the quarter. Frank Rimerman Advisors LLC's holdings in AON were worth $5,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC boosted its position in shares of AON by 4,903.4% in the 2nd quarter. CYBER HORNET ETFs LLC now owns 29,470 shares of the financial services provider's stock worth $9,775,000 after purchasing an additional 28,881 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in AON by 136.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 547,850 shares of the financial services provider's stock worth $176,835,000 after buying an additional 315,817 shares during the last quarter. National Pension Service increased its position in AON by 2.0% during the 2nd quarter. National Pension Service now owns 484,892 shares of the financial services provider's stock valued at $160,834,000 after buying an additional 9,349 shares in the last quarter. Wellington Management Group LLP increased its position in AON by 16.4% during the 2nd quarter. Wellington Management Group LLP now owns 106,370 shares of the financial services provider's stock valued at $35,282,000 after buying an additional 14,996 shares in the last quarter. Finally, Ally Financial Inc. purchased a new stake in AON in the second quarter valued at about $995,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Trending Headlines about AON

Here are the key news stories impacting AON this week:

• Positive Sentiment: Aon secured the sole-broker role for Zurich’s marine and energy excess-of-loss reinsurance account, a business win that could support brokerage revenue and reinforce Aon’s position in specialty risk markets. Aon wins sole broker position on Zurich marine and energy XoL account
• Positive Sentiment: Aon and the European Bank for Reconstruction and Development expanded support for Ukraine war-risk reinsurance. The initiative could create additional specialty-risk opportunities and highlights Aon’s role in rebuilding insurance capacity in Ukraine. Aon, EBRD expand Ukraine war risk reinsurance
• Positive Sentiment: Aon promoted Chris Rafferty to chief integration officer for its Investment Management and Outsourcing business, while also appointing a Chicago leader. The moves may support integration and execution, although they are not immediate earnings catalysts. Aon promotes Chris Rafferty
• Neutral Sentiment: Aon appointed Leonora Siccardi as global chief execution officer for Risk Capital and Human Capital, effective October 14, adding a senior leadership change without clear near-term financial implications. Aon appoints Leonora Siccardi
• Neutral Sentiment: Preview coverage ahead of Aon’s next quarterly report focuses on expectations for results. Investors will likely watch organic growth, margins, retention and guidance following the company’s prior quarter of modest revenue growth. What to expect from Aon's next quarterly earnings report
• Negative Sentiment: Morgan Stanley reduced its AON price target to $350, following Cantor Fitzgerald’s cut to $400 from $433. Although both targets remain above the current share level, the reductions signal more cautious expectations for valuation or growth. Morgan Stanley cuts Aon price target

AON Stock Up 1.9%

Shares of AON opened at $292.28 on Friday. Aon plc has a 52 week low of $266.33 and a 52 week high of $382.34. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $62.00 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.53 and a beta of 0.70. The stock's 50-day moving average price is $310.87 and its 200-day moving average price is $326.09.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.01. AON had a return on equity of 42.13% and a net margin of 22.27%. The company had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.28 billion. During the same period last year, the business earned $3.49 earnings per share. AON's quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts predict that Aon plc will post 18.73 EPS for the current year.

AON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.82 per share. The ex-dividend date is Monday, November 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. AON's dividend payout ratio (DPR) is 18.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AON shares. Keefe, Bruyette & Woods lowered their price target on AON from $417.00 to $342.00 and set an "outperform" rating for the company in a report on Monday, October 12th. TD Cowen increased their price objective on shares of AON from $416.00 to $420.00 and gave the company a "buy" rating in a research report on Monday, September 14th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of AON in a research note on Tuesday, September 1st. Cantor Fitzgerald dropped their target price on shares of AON from $433.00 to $400.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 7th. Finally, Evercore dropped their target price on shares of AON from $423.00 to $375.00 in a research report on Thursday, October 8th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, AON currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.59.

Insider Buying and Selling

In other news, General Counsel Darren Zeidel sold 1,900 shares of AON stock in a transaction that occurred 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 directly owned 11,504 shares of the company's stock, valued at $4,345,751.04. The trade was a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lester B. Knight acquired 20,000 shares of AON stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the purchase, the director owned 163,000 shares in the company, valued at $53,379,240. The trade was a 13.99% increase in their position. The SEC filing for this purchase provides additional information. 1.00% of the stock is owned by insiders.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, make informed decisions and improve workforce outcomes. Its services span commercial risk, health, retirement and investments, and data and analytics.

The company provides insurance brokerage and risk-management services, including coverage placement, claims support, risk transfer and consulting. Through its reinsurance business, Aon also serves insurers and other organizations seeking to manage catastrophe, capital and underwriting risks.

Aon's human capital offerings include employee benefits consulting, retirement advisory services, talent and compensation consulting, and health and workforce solutions.

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