California State Teachers Retirement System Has $33.75 Billion Holdings in Aon plc $AON

Key Points

• CalSTRS dramatically increased its Aon stake by 32,835.5% in the second quarter, purchasing more than 101.4 million shares. Its position was valued at approximately $33.75 billion, representing 47.97% of Aon’s outstanding stock.
• Aon reported quarterly adjusted earnings of $3.81 per share, slightly exceeding estimates, while revenue rose 2.2% year over year to $4.25 billion. The company also maintains a quarterly dividend of $0.82 per share, or a 1.0% annualized yield.
• Analysts remain generally positive, with 12 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $399.12, above Aon’s reported share price of $322.57.

California State Teachers Retirement System increased its holdings in Aon plc (NYSE:AON - Free Report) by 32,835.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,761,829 shares of the financial services provider's stock after buying an additional 101,452,856 shares during the period. California State Teachers Retirement System owned 47.97% of AON worth $33,753,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AON. Dodge & Cox boosted its position in shares of AON by 126.6% during the 4th quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider's stock worth $2,770,975,000 after acquiring an additional 4,387,773 shares in the last quarter. Norges Bank acquired a new stake in shares of AON in the 4th quarter valued at $1,155,981,000. Viking Global Investors LP bought a new position in shares of AON in the 3rd quarter valued at $504,424,000. Balyasny Asset Management L.P. raised its holdings in shares of AON by 40,219.8% during the 3rd quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider's stock worth $301,922,000 after buying an additional 844,615 shares in the last quarter. Finally, Southpoint Capital Advisors LP acquired a new position in shares of AON during the 4th quarter worth $229,372,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity at AON

In related news, General Counsel Darren Zeidel sold 1,900 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total transaction of $717,744.00. Following the transaction, the general counsel directly owned 11,504 shares of the company's stock, valued at $4,345,751.04. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lester B. Knight purchased 20,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was bought 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 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. Insiders have sold 4,450 shares of company stock valued at $1,659,242 in the last ninety days. 1.00% of the stock is currently owned by insiders.

AON Price Performance

AON stock opened at $322.57 on Tuesday. The stock's 50 day moving average is $353.49 and its 200 day moving average is $334.22. Aon plc has a one year low of $304.59 and a one year high of $382.34. The firm has a market cap of $68.42 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.63 and a beta of 0.66. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54.

AON (NYSE:AON - Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, beating 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 business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm posted $3.49 EPS. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Aon plc will post 18.99 EPS for the current year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a dividend of $0.82 per share. The ex-dividend date was Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. AON's dividend payout ratio is presently 18.08%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AON. Weiss Ratings raised AON from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 19th. Evercore reissued an "outperform" rating and issued a $423.00 target price on shares of AON in a report on Wednesday, September 2nd. Wells Fargo & Company decreased their price target on shares of AON from $419.00 to $383.00 and set an "overweight" rating on the stock in a report on Tuesday, September 1st. Morgan Stanley upped their price objective on shares of AON from $380.00 to $410.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of AON from $396.00 to $412.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, AON currently has an average rating of "Moderate Buy" and a consensus price target of $399.12.

AON Profile

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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