Ninety One UK Ltd Has $48.78 Million Stock Holdings in Aon plc $AON

Key Points

• Ninety One UK Ltd increased its stake in Aon by 21.2%, adding 24,161 shares to hold 138,223 shares worth $48.78 million (about 0.06% of the company) at the end of the quarter.
• Insider activity was mixed: General Counsel Darren Zeidel sold 5,040 shares (~$1.64M), cutting his position nearly 20%, while Director Lester B. Knight bought 4,000 shares, raising his stake to 143,000 shares.
• Aon beat EPS estimates ($4.85 vs. $4.75), raised its quarterly dividend to $0.82 ($3.28 annualized, 1.0% yield), and carries a consensus analyst rating of Moderate Buy with an average price target around $401.81.

Ninety One UK Ltd raised its stake in Aon plc (NYSE:AON - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,223 shares of the financial services provider's stock after buying an additional 24,161 shares during the quarter. Ninety One UK Ltd owned 0.06% of AON worth $48,776,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in AON by 28.4% in the second quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider's stock worth $5,246,000 after acquiring an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina grew its position in AON by 9.1% in the second 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 in the last quarter. Alliancebernstein L.P. grew its position in AON by 35.2% in the second quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider's stock worth $104,249,000 after acquiring an additional 76,061 shares in the last quarter. Diversify Advisory Services LLC grew its position in 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 acquiring 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 worth $14,286,000 after acquiring an additional 12,631 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Buying and Selling at AON

In related news, General Counsel Darren Zeidel sold 5,040 shares of the company's 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 transaction, the general counsel directly owned 20,254 shares in the company, valued at $6,598,550.66. This represents a 19.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lester B. Knight bought 4,000 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the completion of the purchase, the director owned 143,000 shares in the company, valued at approximately $45,651,320. The trade was a 2.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of AON from $416.00 to $401.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Evercore reissued an "outperform" rating and issued a $436.00 target price on shares of AON in a research report on Wednesday, January 7th. TD Cowen reissued a "buy" rating on shares of AON in a research report on Monday, March 16th. Jefferies Financial Group reissued a "buy" rating and issued a $408.00 target price on shares of AON in a research report on Monday, February 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of AON from $443.00 to $402.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $401.81.

AON Price Performance

NYSE AON opened at $331.89 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.55. The company has a fifty day simple moving average of $324.39 and a 200 day simple moving average of $339.78. The company has a market cap of $71.11 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.83 and a beta of 0.83. Aon plc has a 1 year low of $304.59 and a 1 year high of $381.00.

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

AON Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, May 1st. This is an increase from AON's previous quarterly dividend of $0.75. AON's dividend payout ratio is currently 17.51%.

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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