Independent Franchise Partners LLP Boosts Stock Position in Aon plc $AON

Key Points

• Independent Franchise Partners LLP boosted its Aon stake by 41.6% in Q3 to 2,096,486 shares (≈0.98% of Aon), valued at about $747.6 million and accounting for ~4.9% of the firm's portfolio as its 9th-largest holding.
• Insider activity: General Counsel Darren Zeidel sold 5,040 shares at an average $325.79 (cutting his stake ~19.9%), while Director Lester B. Knight bought 4,000 shares at $319.24 and now owns 143,000 shares.
• Aon trades near $321 with a market cap of ~$68.9B and P/E ~18.9, recently beat EPS estimates, pays a $2.98 annual dividend (≈0.9% yield), and carries a consensus "Moderate Buy" target price of about $409.

Independent Franchise Partners LLP lifted its position in Aon plc (NYSE:AON - Free Report) by 41.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,096,486 shares of the financial services provider's stock after acquiring an additional 615,570 shares during the quarter. AON accounts for approximately 4.9% of Independent Franchise Partners LLP's investment portfolio, making the stock its 9th largest holding. Independent Franchise Partners LLP owned approximately 0.98% of AON worth $747,565,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. NorthRock Partners LLC increased its position in AON by 12.0% during the 3rd quarter. NorthRock Partners LLC now owns 5,151 shares of the financial services provider's stock valued at $1,837,000 after purchasing an additional 552 shares during the period. Onex Canada Asset Management Inc. lifted its position in shares of AON by 7.9% in the 3rd quarter. Onex Canada Asset Management Inc. now owns 169,774 shares of the financial services provider's stock worth $60,540,000 after purchasing an additional 12,388 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in shares of AON by 3,040.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 314 shares of the financial services provider's stock valued at $112,000 after purchasing an additional 304 shares in the last quarter. Pinnbrook Capital Management LP purchased a new position in AON during the third quarter valued at approximately $1,004,000. Finally, Brown Brothers Harriman & Co. raised its stake in AON by 11.7% in the third quarter. Brown Brothers Harriman & Co. now owns 4,617 shares of the financial services provider's stock worth $1,646,000 after buying an additional 484 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the completion of the sale, the general counsel directly owned 20,254 shares in the company, valued at approximately $6,598,550.66. The trade was a 19.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lester B. Knight acquired 4,000 shares of the company's stock in a transaction dated Tuesday, February 10th. The shares were bought at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the acquisition, the director directly owned 143,000 shares of the company's stock, valued at approximately $45,651,320. The trade was a 2.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

AON Stock Up 1.7%

Shares of AON stock opened at $321.39 on Friday. The stock's fifty day moving average price is $334.50 and its 200 day moving average price is $346.57. Aon plc has a 1-year low of $304.59 and a 1-year high of $402.49. The company has a market cap of $68.86 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.67 and a beta of 0.82. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, beating analysts' consensus estimates of $4.75 by $0.10. The company had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.38 billion. AON had a return on equity of 45.23% and a net margin of 21.51%.During the same period last year, the business posted $4.42 earnings per share. The firm's revenue was up 3.7% compared to the same quarter last year. On average, research analysts expect that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, February 2nd. AON's dividend payout ratio (DPR) is presently 17.51%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AON shares. Wells Fargo & Company dropped their target price on AON from $448.00 to $443.00 and set an "overweight" rating on the stock in a research report on Sunday, February 1st. Weiss Ratings reissued a "hold (c+)" rating on shares of AON in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on AON from $410.00 to $416.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 6th. Mizuho upgraded AON from a "neutral" rating to an "outperform" rating and set a $397.00 target price on the stock in a research note on Friday, February 27th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $408.00 target price on shares of AON in a report on Monday, February 2nd. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $408.94.

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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