Aon plc $AON Stake Lessened by Securian Asset Management Inc.

Key Points

• Securian Asset Management cut its Aon stake by 44.5% in the fourth quarter, leaving it with 5,844 shares valued at about $2.06 million.
• Aon reported better-than-expected quarterly results, with earnings of $6.48 per share and revenue of $5.03 billion, both topping analyst estimates.
• The company raised its quarterly dividend to $0.82 per share from $0.75, while analysts remain mostly positive with a Moderate Buy consensus and an average target price of $397.88.

Securian Asset Management Inc. lowered its holdings in Aon plc (NYSE:AON - Free Report) by 44.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,844 shares of the financial services provider's stock after selling 4,681 shares during the period. Securian Asset Management Inc.'s holdings in AON were worth $2,062,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AON. NewEdge Advisors LLC raised its holdings in shares of AON by 28.4% during the second quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider's stock worth $5,246,000 after acquiring an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of AON by 9.1% during the second quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider's stock worth $34,992,000 after acquiring an additional 8,216 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of AON by 35.2% during the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider's stock worth $104,249,000 after acquiring an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in shares of AON by 27.1% during the second quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider's stock worth $995,000 after acquiring an additional 583 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of AON by 46.1% during the second quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider's stock worth $14,286,000 after acquiring an additional 12,631 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

AON has been the subject of several recent research reports. Citigroup increased their price objective on AON from $402.00 to $412.00 and gave the stock a "buy" rating in a report on Tuesday, February 3rd. Jefferies Financial Group reiterated a "buy" rating and set a $408.00 price objective on shares of AON in a report on Monday, February 2nd. Piper Sandler cut their price objective on AON from $388.00 to $355.00 and set an "overweight" rating for the company in a report on Monday, May 4th. Keefe, Bruyette & Woods cut their price objective on AON from $416.00 to $401.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald increased their target price on shares of AON from $393.00 to $412.00 and gave the stock an "overweight" rating in a research report on Monday, February 2nd. Fourteen investment 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 a consensus target price of $397.88.

AON Stock Down 0.2%

AON stock opened at $312.07 on Tuesday. Aon plc has a twelve month low of $304.59 and a twelve month high of $381.00. The company has a market cap of $66.65 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.66 and a beta of 0.72. The business's 50-day simple moving average is $324.33 and its 200 day simple moving average is $335.92. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36.

AON (NYSE:AON - Get Free Report) last released its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping analysts' consensus estimates of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same period last year, the business earned $5.67 earnings per share. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts anticipate that Aon plc will post 19.04 earnings per share for the current year.

AON Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. This is a boost from AON's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, May 1st. AON's dividend payout ratio (DPR) is 16.36%.

Insiders Place Their Bets

In related news, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the sale, the general counsel directly owned 20,254 shares of the company's stock, valued at $6,598,550.66. This trade represents a 19.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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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