Neuberger Berman Group LLC Has $830.95 Million Stake in Aon plc $AON

Key Points

• Neuberger Berman increased its stake in Aon by 12% in Q3 to 2,330,363 shares (about $830.95 million), representing roughly 1.08% of Aon and the firm's 20th-largest holding.
• Wall Street sentiment is positive — the stock has an average rating of "Moderate Buy" with an average price target of $408.94 (14 Buys, 5 Holds).
• Aon beat quarterly EPS estimates ($4.85 vs. $4.75), reported revenue up 3.7% year-over-year, declared a $0.745 quarterly dividend ($2.98 annual, 0.9% yield), and saw mixed insider activity with the general counsel selling shares and a director buying shares.

Neuberger Berman Group LLC grew its holdings in shares of Aon plc (NYSE:AON - Free Report) by 12.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,330,363 shares of the financial services provider's stock after buying an additional 249,549 shares during the quarter. AON makes up 0.6% of Neuberger Berman Group LLC's portfolio, making the stock its 20th largest position. Neuberger Berman Group LLC owned about 1.08% of AON worth $830,945,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new position in AON during the second quarter valued at approximately $31,000. Resona Asset Management Co. Ltd. acquired a new position in shares of AON during the 2nd quarter worth approximately $22,026,000. Andra AP fonden bought a new stake in shares of AON during the 2nd quarter worth approximately $81,000. Soltis Investment Advisors LLC bought a new position in shares of AON in the 2nd quarter valued at about $840,000. Finally, Modera Wealth Management LLC raised its stake in AON by 5.7% in the second quarter. Modera Wealth Management LLC now owns 13,272 shares of the financial services provider's stock valued at $4,735,000 after buying an additional 714 shares during the period. Institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

AON has been the topic of several research reports. Cantor Fitzgerald upped their price objective on shares of AON from $393.00 to $412.00 and gave the company an "overweight" rating in a report on Monday, February 2nd. Citigroup increased their price target on shares of AON from $402.00 to $412.00 and gave the company a "buy" rating in a report on Tuesday, February 3rd. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. decreased their price objective on AON from $433.00 to $406.00 and set an "overweight" rating on the stock in a report on Wednesday, January 7th. Finally, Barclays lifted their target price on AON from $379.00 to $381.00 and gave the stock an "equal weight" rating in a report on Thursday, January 8th. 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $408.94.

Insider Activity at AON

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

AON Trading Up 0.5%

Shares of AON stock opened at $340.49 on Friday. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $407.07. The stock's fifty day moving average price is $337.61 and its two-hundred day moving average price is $348.37. The company has a debt-to-equity ratio of 1.55, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market cap of $72.95 billion, a PE ratio of 20.01, a P/E/G ratio of 1.78 and a beta of 0.82.

AON (NYSE:AON - Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.75 by $0.10. AON had a return on equity of 45.23% and a net margin of 21.51%.The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the prior year, the company earned $4.42 EPS. AON's revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.

AON Announces Dividend

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

AON Company 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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