Apollon Wealth Management LLC Buys 14,754 Shares of Aon plc $AON

Key Points

• Apollon Wealth Management more than doubled its Aon position in the third quarter, adding 14,754 shares to own 27,219 shares valued at approximately $7.5 million. Institutional investors collectively own 86.14% of Aon's stock.
• Aon's latest quarterly results slightly exceeded expectations, with earnings of $3.81 per share versus the $3.80 consensus estimate, 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 an annualized $3.28 payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $367.59.

Apollon Wealth Management LLC boosted its position in Aon plc (NYSE:AON - Free Report) by 118.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,219 shares of the financial services provider's stock after purchasing an additional 14,754 shares during the quarter. Apollon Wealth Management LLC's holdings in AON were worth $7,533,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. lifted its holdings in shares of AON by 258.3% during the 1st quarter. SJS Investment Consulting Inc. now owns 129 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Downshift Financial LLC raised its stake in AON by 15,700.0% in the third 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 during the last quarter. Ashurst Perkins Coie Trust Co purchased a new stake in AON in the third quarter valued at about $60,000. Cassaday & Co Wealth Management LLC acquired a new stake in AON in the first quarter worth about $61,000. Finally, Maryland Capital Advisors Inc. boosted its holdings in AON by 23,400.0% in the third quarter. Maryland Capital Advisors Inc. now owns 235 shares of the financial services provider's stock worth $65,000 after acquiring an additional 234 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

AON Stock Performance

NYSE AON opened at $302.13 on Tuesday. The stock has a 50-day simple moving average of $305.82 and a two-hundred day simple moving average of $327.03. The firm has a market capitalization of $64.09 billion, a P/E ratio of 16.69, a PEG ratio of 1.59 and a beta of 0.70. Aon plc has a fifty-two week low of $266.33 and a fifty-two week high of $382.34. 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 (NYSE:AON - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.28 billion. During the same quarter in the previous year, the firm posted $3.49 EPS. The company's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts forecast 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. Shareholders of record on Monday, November 2nd will be given a $0.82 dividend. The ex-dividend date is Monday, November 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. AON's dividend payout ratio is 18.08%.

Insider Buying and Selling at AON

In other news, Director Lester Knight bought 20,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the purchase, the director directly owned 163,000 shares in the company, valued at $53,379,240. The trade was a 13.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Cantor Fitzgerald lowered their target price on shares of AON from $433.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, October 7th. Jefferies Financial Group cut their price target on shares of AON from $387.00 to $383.00 and set a "buy" rating on the stock in a research note on Wednesday, September 30th. Wolfe Research lowered shares of AON from a "hold" rating to a "strong sell" rating in a research note on Friday, September 11th. TD Cowen raised their price target on shares of AON from $416.00 to $420.00 and gave the stock a "buy" rating in a report on Monday, September 14th. Finally, Wall Street Zen downgraded shares of AON from a "hold" rating to a "sell" rating in a research note on Sunday, September 6th. Twelve 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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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