Aon plc $AON Shares Sold by M&T Bank Corp

Key Points

• M&T Bank Corp cut its stake in Aon by 14.9% in Q4, selling 3,840 shares and leaving 21,938 shares valued at about $7.74 million, while institutional investors own 86.14% of the company.
• Aon raised its quarterly dividend to $0.82 (from $0.75), payable May 15 with an ex-dividend date of May 1, implying an annualized yield of roughly 1.0%.
• Analysts hold a consensus “Moderate Buy” rating on Aon with an average target of $401.81, though several firms have trimmed targets recently (e.g., JPMorgan to $396, Barclays to $372).

M&T Bank Corp decreased its holdings in Aon plc (NYSE:AON - Free Report) by 14.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,938 shares of the financial services provider's stock after selling 3,840 shares during the quarter. M&T Bank Corp's holdings in AON were worth $7,741,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Sound View Wealth Advisors Group LLC raised its holdings in AON by 1.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider's stock worth $683,000 after purchasing an additional 29 shares during the period. Kathmere Capital Management LLC raised its holdings in AON by 2.1% in the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider's stock worth $558,000 after purchasing an additional 32 shares during the period. Busey Bank raised its holdings in AON by 0.3% in the 3rd quarter. Busey Bank now owns 9,565 shares of the financial services provider's stock worth $3,411,000 after purchasing an additional 33 shares during the period. Westpac Banking Corp raised its holdings in AON by 5.6% in the 3rd quarter. Westpac Banking Corp now owns 620 shares of the financial services provider's stock worth $221,000 after purchasing an additional 33 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings in AON by 1.8% in the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider's stock worth $664,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on AON from $406.00 to $396.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. The Goldman Sachs Group set a $395.00 target price on AON in a report on Wednesday, January 7th. Barclays reduced their target price on AON from $381.00 to $372.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. Weiss Ratings reissued a "hold (c)" rating on shares of AON in a report on Tuesday. Finally, Evercore reissued an "outperform" rating and set a $436.00 target price on shares of AON in a report on Wednesday, January 7th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $401.81.

Insider Activity at AON

In related news, Director Lester B. Knight purchased 4,000 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the completion of the acquisition, the director owned 143,000 shares in the company, valued at $45,651,320. This trade represents a 2.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Darren Zeidel sold 5,040 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total value of $1,641,981.60. Following the completion of the sale, the general counsel directly owned 20,254 shares of the company's stock, valued at approximately $6,598,550.66. This represents a 19.93% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.

AON Price Performance

NYSE:AON opened at $321.47 on Friday. Aon plc has a one year low of $304.59 and a one year high of $381.00. The company has a debt-to-equity ratio of 1.55, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a market cap of $68.88 billion, a PE ratio of 18.89, a P/E/G ratio of 1.77 and a beta of 0.83. The stock has a 50 day moving average price of $325.69 and a 200 day moving average price of $338.61.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.75 by $0.10. AON had a return on equity of 45.23% and a net margin of 21.51%.The firm had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.38 billion. During the same quarter last year, the firm earned $4.42 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts expect that Aon plc will post 18.98 EPS for the current fiscal year.

AON Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be issued a $0.82 dividend. This is a boost from AON's previous quarterly dividend of $0.75. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 1st. AON's payout ratio is 17.51%.

AON Company 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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