Aon plc $AON Shares Purchased by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors increased its Aon holdings by 638.1% in the third quarter, bringing its position to 5,639 shares valued at approximately $1.56 million. Institutional investors and hedge funds collectively own 86.14% of AON.
• Aon reported quarterly EPS of $3.81, narrowly beating estimates, while revenue of $4.25 billion fell slightly short of expectations but increased 2.2% year over year. The company declared a quarterly dividend of $0.82 per share, equivalent to a 1.2% yield.
• AON shares opened at $275.64, well below their 12-month high of $382.34. Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $367.59, although several firms have recently lowered their targets.

Salem Investment Counselors Inc. boosted its holdings in Aon plc (NYSE:AON - Free Report) by 638.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,639 shares of the financial services provider's stock after acquiring an additional 4,875 shares during the quarter. Salem Investment Counselors Inc.'s holdings in AON were worth $1,561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AON. Downshift Financial LLC raised its holdings in shares of AON by 15,700.0% in the 3rd quarter. Downshift Financial LLC now owns 158 shares of the financial services provider's stock worth $44,000 after purchasing an additional 157 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in AON by 12.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 7,322 shares of the financial services provider's stock worth $2,027,000 after buying an additional 791 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in AON by 3.3% during the third quarter. Central Pacific Bank Trust Division now owns 1,575 shares of the financial services provider's stock worth $436,000 after buying an additional 50 shares in the last quarter. QRG Capital Management Inc. grew its position in AON by 10.9% in the second quarter. QRG Capital Management Inc. now owns 6,841 shares of the financial services provider's stock worth $2,269,000 after buying an additional 672 shares during the last quarter. Finally, Andra AP fonden acquired a new position in AON in the second quarter worth approximately $5,191,000. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Price Performance

Shares of NYSE:AON opened at $275.64 on Thursday. The company's fifty day moving average is $313.65 and its two-hundred day moving average is $326.52. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. Aon plc has a 12-month low of $266.33 and a 12-month high of $382.34. The company has a market cap of $58.47 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.44 and a beta of 0.70.

AON (NYSE:AON - Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.80 by $0.01. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.49 earnings per share. Equities analysts expect that Aon plc will post 18.74 earnings per share for the current fiscal year.

AON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 2nd. AON's payout ratio is presently 18.08%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AON shares. Jefferies Financial Group dropped their price target on AON from $387.00 to $383.00 and set a "buy" rating on the stock in a report on Wednesday, September 30th. Bank of America raised their price objective on AON from $298.00 to $327.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 15th. Citigroup started coverage on AON in a report on Monday, September 21st. They issued a "buy" rating and a $435.00 target price on the stock. Cantor Fitzgerald cut their target price on AON from $433.00 to $400.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 7th. Finally, Piper Sandler cut their target price on AON from $391.00 to $349.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 1st. Twelve equities research 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $367.59.

AON News Summary

Here are the key news stories impacting AON this week:

• Positive Sentiment: Aon and the European Bank for Reconstruction and Development expanded their Ukraine Recovery and Reconstruction Guarantee Facility from €110 million to €150 million. The program has supported more than €500 million in reinsurance coverage across nearly 10,000 policies, and the addition of insurers UNIVERSALNA and USG broadens its reach. The move strengthens Aon’s role in Ukraine’s insurance-market development, although its near-term earnings impact is likely limited. Aon and EBRD expand war risk insurance facility
• Neutral Sentiment: Aon appointed Leonora Siccardi as global chief execution officer for its Risk Capital and Human Capital businesses. The newly emphasized execution role could support operational coordination and growth, but investors are unlikely to see an immediate financial effect. Aon appoints Leonora Siccardi
• Neutral Sentiment: Aon forecast Asia-Pacific medical-cost inflation at 9.7%, suggesting some moderation in regional cost growth. This may help clients manage benefits expenses and support demand for advisory services, but the development is not a major direct earnings catalyst. Aon projects Asia-Pacific medical-cost inflation
• Negative Sentiment: Analyst sentiment weakened as Keefe Bruyette cut its Aon price target to $342 from $417, Morgan Stanley set a $350 target, and Wells Fargo reduced its target to $323. Although all remain above the company’s recent trading range, the reductions signal lower valuation expectations and are the clearest near-term reason for pressure on AON. Keefe Bruyette cuts Aon target

Insider Buying and Selling at AON

In other AON news, General Counsel Darren Zeidel sold 1,950 shares of the firm's stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $372.05, for a total transaction of $725,497.50. Following the completion of the sale, the general counsel directly owned 13,404 shares in the company, valued at approximately $4,986,958.20. This trade represents a 12.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lester B. Knight bought 20,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the purchase, the director owned 163,000 shares in the company, valued at approximately $53,379,240. This represents a 13.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.00% of the stock is currently owned by insiders.

About AON

Aon plc is a global professional services firm that helps organizations manage risk, make better decisions and improve performance. Its services are organized around risk capital and human capital, combining advisory expertise, data, analytics and insurance-related solutions.

The company provides commercial risk brokerage and consulting, reinsurance brokerage, retirement and investment advisory services, health benefits consulting, talent and compensation consulting, and related technology and data products.

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