Aon plc $AON Stock: TD Waterhouse Canada Inc. Raises Position

Key Points

• TD Waterhouse Canada increased its AON stake by 1,630.6% in the third quarter, purchasing 142,159 additional shares for a total position worth approximately $41.8 million. Institutional investors collectively own 86.14% of AON.
• Insider activity was mixed: Director Lester Knight bought 20,000 shares worth about $6.55 million, while General Counsel Darren Zeidel sold 1,900 shares. Corporate insiders own roughly 1% of the company.
• AON reported quarterly EPS of $3.81, narrowly beating estimates, and declared a quarterly dividend of $0.82. Analysts maintain a “Moderate Buy” consensus, though several brokerages recently cut their price targets.

TD Waterhouse Canada Inc. raised its stake in Aon plc (NYSE:AON - Free Report) by 1,630.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,877 shares of the financial services provider's stock after purchasing an additional 142,159 shares during the period. TD Waterhouse Canada Inc. owned about 0.07% of AON worth $41,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of America Corp DE raised its holdings in AON by 16.3% in the first quarter. Bank of America Corp DE now owns 1,582,680 shares of the financial services provider's stock valued at $510,857,000 after acquiring an additional 222,092 shares in the last quarter. Amundi lifted its stake in AON by 23.5% in the first quarter. Amundi now owns 1,502,890 shares of the financial services provider's stock worth $485,103,000 after acquiring an additional 285,549 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in AON by 20.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,253,769 shares of the financial services provider's stock worth $404,709,000 after acquiring an additional 213,051 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in AON by 74.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 797,418 shares of the financial services provider's stock worth $257,391,000 after acquiring an additional 340,866 shares in the last quarter. Finally, Ninety One UK Ltd increased its position in shares of AON by 419.8% in the 3rd quarter. Ninety One UK Ltd now owns 836,932 shares of the financial services provider's stock valued at $231,638,000 after purchasing an additional 675,919 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Activity at AON

In other news, Director Lester Knight acquired 20,000 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was acquired at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the acquisition, the director owned 163,000 shares of the company's stock, valued at $53,379,240. The trade was a 13.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Darren Zeidel sold 1,900 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total transaction of $717,744.00. Following the transaction, the general counsel owned 11,504 shares in the company, valued at approximately $4,345,751.04. This trade represents a 14.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

AON Stock Up 1.9%

AON stock opened at $292.28 on Friday. The company has a market capitalization of $62.00 billion, a P/E ratio of 16.11, a PEG ratio of 1.53 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. Aon plc has a fifty-two week low of $266.33 and a fifty-two week high of $382.34. The stock has a 50-day simple moving average of $310.87 and a 200-day simple moving average of $326.09.

AON (NYSE:AON - Get Free Report) last released 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. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.49 EPS. Equities research analysts expect that Aon plc will post 18.73 earnings per share for the current year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be issued a $0.82 dividend. 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 presently 18.08%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AON. JPMorgan Chase & Co. reduced their price objective on shares of AON from $412.00 to $362.00 and set an "overweight" rating on the stock in a report on Thursday, October 1st. Keefe, Bruyette & Woods lowered their target price on shares of AON from $417.00 to $342.00 and set an "outperform" rating for the company in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of AON in a report on Tuesday, September 1st. UBS Group restated a "neutral" rating on shares of AON in a research note on Monday, August 31st. Finally, BMO Capital Markets decreased their price target on AON from $360.00 to $286.00 and set a "market perform" rating for the company in a report on Thursday, October 1st. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.59.

More AON News

Here are the key news stories impacting AON this week:

• Positive Sentiment: Aon secured the sole-broker role for Zurich’s marine and energy excess-of-loss reinsurance account, a business win that could support brokerage revenue and reinforce Aon’s position in specialty risk markets. Aon wins sole broker position on Zurich marine and energy XoL account
• Positive Sentiment: Aon and the European Bank for Reconstruction and Development expanded support for Ukraine war-risk reinsurance. The initiative could create additional specialty-risk opportunities and highlights Aon’s role in rebuilding insurance capacity in Ukraine. Aon, EBRD expand Ukraine war risk reinsurance
• Positive Sentiment: Aon promoted Chris Rafferty to chief integration officer for its Investment Management and Outsourcing business, while also appointing a Chicago leader. The moves may support integration and execution, although they are not immediate earnings catalysts. Aon promotes Chris Rafferty
• Neutral Sentiment: Aon appointed Leonora Siccardi as global chief execution officer for Risk Capital and Human Capital, effective October 14, adding a senior leadership change without clear near-term financial implications. Aon appoints Leonora Siccardi
• Neutral Sentiment: Preview coverage ahead of Aon’s next quarterly report focuses on expectations for results. Investors will likely watch organic growth, margins, retention and guidance following the company’s prior quarter of modest revenue growth. What to expect from Aon's next quarterly earnings report
• Negative Sentiment: Morgan Stanley reduced its AON price target to $350, following Cantor Fitzgerald’s cut to $400 from $433. Although both targets remain above the current share level, the reductions signal more cautious expectations for valuation or growth. Morgan Stanley cuts Aon price target

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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