Lombard Odier Asset Management Switzerland SA Takes $2.17 Million Position in Aon plc $AON

Key Points

• Lombard Odier Asset Management acquired 6,713 Aon shares worth approximately $2.17 million in the first quarter. Institutional investors now own 86.14% of AON’s outstanding stock.
• Aon reported quarterly earnings of $6.48 per share, exceeding estimates of $6.37, while revenue rose 6.4% year over year to $5.03 billion. Analysts collectively rate the stock “Moderate Buy,” with an average price target of $404.56.
• Aon declared a quarterly dividend of $0.82 per share, equivalent to an annualized $3.28 and a 0.9% yield. Separately, General Counsel Darren Zeidel sold 600 shares at an average price of $360.

Lombard Odier Asset Management Switzerland SA acquired a new position in Aon plc (NYSE:AON - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,713 shares of the financial services provider's stock, valued at approximately $2,167,000.

Several other hedge funds have also recently bought and sold shares of AON. Kathmere Capital Management LLC increased its stake in shares of AON by 2.1% in the fourth quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider's stock valued at $558,000 after purchasing an additional 32 shares during the period. City National Bank of Florida MSD boosted its position in shares of AON by 3.8% during the fourth quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider's stock worth $306,000 after buying an additional 32 shares during the period. Capital Investment Advisors LLC grew its holdings in AON by 1.8% in the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider's stock worth $664,000 after buying an additional 33 shares in the last quarter. Salomon & Ludwin LLC increased its position in AON by 39.3% in the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 33 shares during the period. Finally, Mattern Capital Management LLC raised its stake in AON by 0.8% during the 4th quarter. Mattern Capital Management LLC now owns 3,974 shares of the financial services provider's stock valued at $1,402,000 after acquiring an additional 33 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Darren Zeidel sold 600 shares of the business's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the sale, the general counsel directly owned 15,354 shares of the company's stock, valued at $5,527,440. The trade was a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AON has been the subject of several recent analyst reports. Barclays increased their price target on AON from $372.00 to $382.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 7th. Cantor Fitzgerald increased their target price on shares of AON from $416.00 to $445.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods lowered their target price on shares of AON from $404.00 to $400.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 8th. Wells Fargo & Company reduced their price target on shares of AON from $409.00 to $406.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of AON in a report on Friday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, AON has an average rating of "Moderate Buy" and an average target price of $404.56.

AON Trading Down 0.1%

Shares of AON stock opened at $361.26 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.36. The stock has a 50-day simple moving average of $336.57 and a 200 day simple moving average of $331.24. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The stock has a market capitalization of $77.16 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.89 and a beta of 0.71.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating analysts' consensus estimates of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the prior year, the company earned $5.67 EPS. AON's revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts expect that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON's dividend payout ratio is 18.00%.

About AON

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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