NewEdge Wealth LLC Has $5.93 Million Stake in Aon plc $AON

Key Points

• NewEdge Wealth LLC more than doubled its Aon position in the fourth quarter, buying 8,810 additional shares to bring its total to 16,807 shares valued at about $5.93 million.
• Aon reported stronger-than-expected quarterly results, with EPS of $6.48 versus $6.37 expected and revenue of $5.03 billion, up 6.4% year over year.
• The company also raised its quarterly dividend to $0.82 per share from $0.75, while analysts currently rate the stock a Moderate Buy with a consensus price target of $397.88.

NewEdge Wealth LLC boosted its holdings in Aon plc (NYSE:AON - Free Report) by 110.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,807 shares of the financial services provider's stock after purchasing an additional 8,810 shares during the quarter. NewEdge Wealth LLC's holdings in AON were worth $5,931,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in AON by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 20,171,049 shares of the financial services provider's stock worth $7,117,960,000 after purchasing an additional 191,658 shares in the last quarter. State Street Corp raised its stake in AON by 1.2% in the 3rd quarter. State Street Corp now owns 9,229,464 shares of the financial services provider's stock worth $3,291,048,000 after purchasing an additional 105,154 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AON by 5.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,715,346 shares of the financial services provider's stock worth $1,324,818,000 after purchasing an additional 207,690 shares in the last quarter. Dodge & Cox acquired a new stake in AON in the 3rd quarter worth about $1,235,437,000. Finally, Neuberger Berman Group LLC raised its stake in AON by 12.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,330,363 shares of the financial services provider's stock worth $830,945,000 after purchasing an additional 249,549 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Trading Down 0.1%

Shares of AON stock opened at $312.60 on Monday. Aon plc has a 1 year low of $304.59 and a 1 year high of $381.00. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $66.77 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.66 and a beta of 0.72. The firm's 50 day moving average is $324.93 and its 200 day moving average is $336.36.

AON (NYSE:AON - Get Free Report) last posted its earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, topping 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 firm had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the firm posted $5.67 EPS. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Aon plc will post 19.04 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 1st. This is a positive change from AON's previous quarterly dividend of $0.75. AON's payout ratio is presently 16.36%.

Insider Buying and Selling

In other AON news, Director Lester B. Knight bought 4,000 shares of AON stock in a transaction on Tuesday, February 10th. The shares were purchased at an average cost of $319.24 per share, with a total value of $1,276,960.00. Following the acquisition, the director directly owned 143,000 shares of the company's stock, valued at $45,651,320. The trade was a 2.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Darren Zeidel sold 5,040 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the sale, the general counsel directly owned 20,254 shares in the company, valued at $6,598,550.66. The trade was a 19.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AON shares. Cantor Fitzgerald lifted their price objective on shares of AON from $393.00 to $412.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Citigroup raised their target price on shares of AON from $402.00 to $412.00 and gave the company a "buy" rating in a report on Tuesday, February 3rd. Barclays decreased their target price on shares of AON from $381.00 to $372.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. TD Cowen reissued a "buy" rating on shares of AON in a report on Monday, March 16th. Finally, UBS Group reissued a "neutral" rating and issued a $385.00 target price on shares of AON in a report on Monday, February 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, AON currently has an average rating of "Moderate Buy" and a consensus price target of $397.88.

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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