M.D. Sass LLC Has $45.95 Million Stake in Aon plc $AON

Key Points

• M.D. Sass LLC increased its Aon stake by 31.2% in the first quarter, holding 142,362 shares worth about $45.95 million. Aon now makes up 3.5% of the firm’s portfolio.
• Several other institutions also boosted positions in Aon, and institutional investors own 86.14% of the company. Insider ownership remains low at 1.00%.
• Aon reported solid results, with Q1 EPS of $6.48 beating estimates and revenue rising 6.4% year over year. Analysts remain generally positive, with an average rating of “Moderate Buy” and an average price target of $404.56.

M.D. Sass LLC increased its stake in Aon plc (NYSE:AON - Free Report) by 31.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 142,362 shares of the financial services provider's stock after purchasing an additional 33,831 shares during the period. AON makes up 3.5% of M.D. Sass LLC's holdings, making the stock its 17th largest position. M.D. Sass LLC owned approximately 0.07% of AON worth $45,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in shares of AON by 28.4% during the second quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider's stock worth $5,246,000 after buying an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in AON by 9.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider's stock worth $34,992,000 after acquiring an additional 8,216 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of AON by 35.2% in the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider's stock valued at $104,249,000 after purchasing an additional 76,061 shares during the last quarter. Diversify Advisory Services LLC lifted its position in shares of AON by 27.1% in the second quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider's stock worth $995,000 after purchasing an additional 583 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in AON by 46.1% in the second quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider's stock valued at $14,286,000 after purchasing an additional 12,631 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AON shares. Piper Sandler lowered shares of AON from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $355.00 to $377.00 in a research report on Wednesday, July 15th. Barclays boosted their price target on AON from $372.00 to $382.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Morgan Stanley raised their price objective on AON from $370.00 to $380.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Citigroup lifted their target price on AON from $412.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company dropped their price target on AON from $409.00 to $406.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, AON presently has an average rating of "Moderate Buy" and an average target price of $404.56.

AON Stock Up 0.9%

AON opened at $355.50 on Friday. The stock has a fifty day moving average of $335.69 and a 200-day moving average of $331.17. The company has a market capitalization of $75.93 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.85 and a beta of 0.71. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95.

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

AON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON's dividend payout ratio (DPR) is currently 18.00%.

Insider Buying and Selling at AON

In other news, General Counsel Darren Zeidel sold 600 shares of AON stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $360.00, for a total value of $216,000.00. Following the completion of the sale, the general counsel directly owned 15,354 shares in the company, valued at approximately $5,527,440. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.

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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