Aon plc $AON Stock Position Increased by Sterling Capital Management LLC

Key Points

• Sterling Capital Management increased its Aon stake by 1,585.1% in the third quarter, bringing its holdings to 17,003 shares worth approximately $4.7 million. Institutional investors collectively own 86.14% of Aon.
• Aon reported quarterly EPS of $3.81, slightly exceeding estimates, while revenue rose 2.2% year over year to $4.25 billion but fell short of expectations. The company declared a quarterly dividend of $0.82 per share, yielding about 1.1% annually.
• Aon shares opened at $303.47, below the analyst consensus target of $367.59. Despite mixed ratings and several recent price-target cuts, analysts maintain a “Moderate Buy” consensus.

Sterling Capital Management LLC raised its holdings in shares of Aon plc (NYSE:AON - Free Report) by 1,585.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,003 shares of the financial services provider's stock after acquiring an additional 15,994 shares during the period. Sterling Capital Management LLC's holdings in AON were worth $4,706,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AON. SJS Investment Consulting Inc. lifted its holdings in AON by 258.3% in the first quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider's stock worth $42,000 after purchasing an additional 93 shares during the period. Downshift Financial LLC grew its position in AON by 15,700.0% in the 3rd quarter. Downshift Financial LLC now owns 158 shares of the financial services provider's stock valued at $44,000 after buying an additional 157 shares in the last quarter. Ashurst Perkins Coie Trust Co acquired a new position in AON during the 3rd quarter valued at about $60,000. Cassaday & Co Wealth Management LLC acquired a new position in AON during the 1st quarter valued at about $61,000. Finally, Maryland Capital Advisors Inc. increased its stake in AON by 23,400.0% during the 3rd quarter. Maryland Capital Advisors Inc. now owns 235 shares of the financial services provider's stock valued at $65,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total transaction of $717,744.00. Following the completion of the sale, the general counsel directly owned 11,504 shares of the company's stock, valued at approximately $4,345,751.04. This represents a 14.17% 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. Also, Director Lester Knight acquired 20,000 shares of AON stock in a transaction on Wednesday, September 2nd. The shares were purchased at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the purchase, the director directly owned 163,000 shares of the company's stock, valued at approximately $53,379,240. This represents a 13.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is currently owned by insiders.

AON Price Performance

Shares of NYSE:AON opened at $303.47 on Friday. The company has a market capitalization of $64.37 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a fifty day moving average of $305.15 and a 200-day moving average of $325.24. Aon plc has a one year low of $266.33 and a one year high of $382.34.

AON (NYSE:AON - Get Free Report) last issued its 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 return on equity of 42.13% and a net margin of 22.27%. The business had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.28 billion. During the same period in the previous year, the firm posted $3.49 EPS. The company's quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Aon plc will post 18.73 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, November 2nd. AON's payout ratio is presently 18.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AON. Wall Street Zen lowered shares of AON from a "hold" rating to a "sell" rating in a research note on Sunday, September 6th. 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 for the company. Barclays lowered their price objective on shares of AON from $382.00 to $317.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 7th. Piper Sandler dropped their target price on AON from $391.00 to $349.00 and set a "neutral" rating on the stock in a report on Tuesday, September 1st. Finally, Mizuho cut their target price on AON from $366.00 to $324.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $367.59.

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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