Fifth Third Bancorp Buys 518,548 Shares of Aon plc $AON

Key Points

• Fifth Third Bancorp increased its Aon stake by 1,891.8% in the third quarter, adding 518,548 shares to hold 545,959 shares valued at about $151.1 million.
• Analyst opinions were mixed: Aon had an average rating of “Hold” and an average price target of $369.12, with 13 Buy, six Hold, and three Sell ratings.
• Aon beat quarterly earnings estimates, reporting $3.36 per share and $4.10 billion in revenue; it also announced a quarterly dividend of $0.82 per share.

Fifth Third Bancorp boosted its stake in Aon plc (NYSE:AON - Free Report) by 1,891.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 545,959 shares of the financial services provider's stock after acquiring an additional 518,548 shares during the quarter. Fifth Third Bancorp owned 0.26% of AON worth $151,105,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in AON by 5.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider's stock worth $216,000 after purchasing an additional 33 shares in the last quarter. Aspen Grove Capital LLC lifted its holdings in shares of AON by 4.8% in the first quarter. Aspen Grove Capital LLC now owns 737 shares of the financial services provider's stock valued at $238,000 after purchasing an additional 34 shares in the last quarter. Novem Group lifted its holdings in shares of AON by 1.0% in the third quarter. Novem Group now owns 3,460 shares of the financial services provider's stock valued at $958,000 after purchasing an additional 35 shares in the last quarter. KCM Investment Advisors LLC boosted its position in shares of AON by 6.2% during the first quarter. KCM Investment Advisors LLC now owns 651 shares of the financial services provider's stock worth $210,000 after buying an additional 38 shares during the period. Finally, RDA Financial Network boosted its position in shares of AON by 2.9% during the second quarter. RDA Financial Network now owns 1,451 shares of the financial services provider's stock worth $481,000 after buying an additional 41 shares during the period. 86.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AON has been the subject of a number of research reports. Zacks Research downgraded AON from a "hold" rating to a "strong sell" rating in a report on Monday, October 26th. Weiss Ratings cut AON from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 17th. UBS Group reduced their price target on AON from $387.00 to $356.00 and set a "neutral" rating for the company in a research report on Monday, November 2nd. Deutsche Bank reaffirmed a "hold" rating on shares of AON in a research report on Tuesday, September 1st. Finally, Evercore decreased their price target on shares of AON from $423.00 to $375.00 in a research note on Thursday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, AON currently has an average rating of "Hold" and an average target price of $369.12.

Insider Buying and Selling

In related news, Director Lester Knight purchased 20,000 shares of AON stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the transaction, the director owned 163,000 shares of the company's stock, valued at approximately $53,379,240. This trade represents a 13.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

AON Trading Up 0.0%

Shares of NYSE:AON opened at $336.36 on Thursday. The company's 50-day moving average price is $300.58 and its two-hundred day moving average price is $325.94. The company has a debt-to-equity ratio of 2.58, a current ratio of 4.72 and a quick ratio of 4.72. Aon plc has a one year low of $266.33 and a one year high of $382.34. The stock has a market capitalization of $71.36 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $3.36 EPS for the quarter, topping analysts' consensus estimates of $3.30 by $0.06. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. AON had a net margin of 22.24% and a return on equity of 40.46%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.05 EPS. On average, equities analysts forecast that Aon plc will post 18.47 EPS for the current fiscal year.

AON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors 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 1.0%. The ex-dividend date is Monday, November 2nd. AON's dividend payout ratio is presently 17.96%.

About AON

Aon plc is a global professional services firm that helps organizations manage risk and make decisions about their people and finances. Its services include insurance brokerage, risk consulting, reinsurance solutions, employee benefits consulting and retirement and investment advisory services. The company serves businesses and institutions across a broad range of industries and geographies. Aon was formed in 1982 as Ryan Insurance Group and adopted the Aon name in 1987. It is headquartered in Dublin, Ireland, and operates internationally.

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