Ally Financial Inc. Makes New Investment in Aon plc $AON

Key Points

• Ally Financial initiated a position in Aon during the second quarter, purchasing 3,000 shares valued at approximately $995,000. Institutional investors and hedge funds collectively own 86.14% of Aon.
• Analysts remain generally positive, with 12 Buy ratings and five Holds; Aon has a “Moderate Buy” consensus rating and an average price target of $412.62.
• Aon’s latest quarterly results slightly exceeded earnings expectations, with EPS of $3.81 and revenue of $4.25 billion. The company also paid a quarterly dividend of $0.82 per share, representing a 0.9% yield.

Ally Financial Inc. purchased a new position in shares of Aon plc (NYSE:AON - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,000 shares of the financial services provider's stock, valued at approximately $995,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Watch Advisors INC purchased a new position in AON in the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of AON in the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of AON during the 4th quarter worth $29,000. Strive Asset Management LLC acquired a new stake in shares of AON during the 3rd quarter worth about $35,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of AON during the 4th quarter worth about $37,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of AON in a research report on Tuesday, August 18th. Piper Sandler boosted their price target on shares of AON from $377.00 to $391.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Morgan Stanley upped their price objective on shares of AON from $380.00 to $410.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup increased their price objective on shares of AON from $420.00 to $435.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Mizuho lifted their target price on shares of AON from $426.00 to $437.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AON presently has an average rating of "Moderate Buy" and a consensus target price of $412.62.

AON Stock Down 0.1%

Shares of NYSE:AON opened at $354.90 on Monday. The company's fifty day moving average is $350.17 and its two-hundred day moving average is $333.36. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54. Aon plc has a 1-year low of $304.59 and a 1-year high of $382.34. The stock has a market capitalization of $75.28 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.83 and a beta of 0.69.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, beating the consensus estimate of $3.80 by $0.01. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. AON had a net margin of 22.27% and a return on equity of 42.13%. The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.49 EPS. Equities analysts anticipate that Aon plc will post 19.05 EPS for the current year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, August 3rd. AON's dividend payout ratio is presently 18.08%.

Insider Activity

In related news, General Counsel Darren Zeidel sold 1,900 shares of the business's stock in a transaction that occurred 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 owned 11,504 shares in the company, valued at $4,345,751.04. The trade was a 14.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.

AON Profile

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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