Aon plc $AON Stock: Farmers & Merchants Investments Inc. Grows Holdings

Key Points

• Institutional ownership increased significantly: Farmers & Merchants Investments raised its AON stake by 76,726.4% to 113,703 shares worth approximately $31.5 million. Institutional investors collectively own 86.14% of the company.
• Analyst sentiment remains positive: AON has a consensus “Moderate Buy” rating from analysts, with an average price target of $367.59, although ratings range from “strong sell” to “buy.”
• Quarterly performance and dividend: Aon slightly exceeded quarterly EPS expectations with $3.81 versus $3.80, while revenue rose 2.2% year over year to $4.25 billion. The company declared a quarterly dividend of $0.82 per share, equivalent to a 1.1% yield.

Farmers & Merchants Investments Inc. grew its position in shares of Aon plc (NYSE:AON - Free Report) by 76,726.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,703 shares of the financial services provider's stock after buying an additional 113,555 shares during the period. Farmers & Merchants Investments Inc. owned about 0.05% of AON worth $31,470,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its stake in shares of AON by 11,179.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,026,135 shares of the financial services provider's stock valued at $1,114,313,000 after buying an additional 3,990,441 shares during the period. Bank of America Corp DE lifted its stake in AON by 16.3% during the first quarter. Bank of America Corp DE now owns 1,582,680 shares of the financial services provider's stock worth $510,857,000 after purchasing an additional 222,092 shares during the period. Amundi increased its holdings in shares of AON by 23.5% during the first quarter. Amundi now owns 1,502,890 shares of the financial services provider's stock worth $485,103,000 after buying an additional 285,549 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AON by 20.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,253,769 shares of the financial services provider's stock valued at $404,709,000 after purchasing an additional 213,051 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of AON by 74.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 797,418 shares of the financial services provider's stock valued at $257,391,000 after purchasing an additional 340,866 shares during the last quarter. Institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AON. Citigroup began coverage on shares of AON in a report on Monday, September 21st. They issued a "buy" rating and a $435.00 price objective on the stock. Wolfe Research downgraded shares of AON from a "hold" rating to a "strong sell" rating in a research note on Friday, September 11th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of AON in a research report on Tuesday, September 1st. The Goldman Sachs Group lifted their target price on shares of AON from $375.00 to $401.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, TD Cowen increased their price objective on shares of AON from $416.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $367.59.

Insider Transactions at AON

In related news, General Counsel Darren Zeidel sold 1,900 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $4,345,751.04. This trade represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lester Knight purchased 20,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were bought at an average price of $327.48 per share, for a total transaction of $6,549,600.00. Following the completion of the acquisition, the director owned 163,000 shares in the company, valued at $53,379,240. This represents a 13.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.00% of the company's stock.

AON Stock Performance

AON stock opened at $303.47 on Friday. 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 twelve month low of $266.33 and a twelve month high of $382.34. The company has a market cap of $64.37 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.61 and a beta of 0.70. The company's 50-day moving average price is $305.15 and its 200-day moving average price is $325.24.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.01. AON had a net margin of 22.27% and a return on equity of 42.13%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the firm posted $3.49 earnings per share. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Aon plc will post 18.73 EPS for the current fiscal year.

AON Dividend Announcement

The company 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 2nd. AON's dividend payout ratio is currently 18.08%.

About AON

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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