Nippon Life Global Investors Americas Inc. Increases Stock Position in Aon plc $AON

Key Points

• Nippon Life Global Investors Americas increased its stake in Aon by 4.5% in Q4 to 98,970 shares worth about $34.93 million, making Aon its 24th-largest holding.
• Equity analysts hold a consensus rating of "Moderate Buy" on Aon with an average target price of $401.81, versus the recent share price near $321.47.
• Aon raised its quarterly dividend to $0.82 (annualized $3.28) with an ex-dividend date of May 1, implying a yield of about 1.0%.

Nippon Life Global Investors Americas Inc. lifted its holdings in Aon plc (NYSE:AON - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 98,970 shares of the financial services provider's stock after purchasing an additional 4,240 shares during the period. AON comprises 1.4% of Nippon Life Global Investors Americas Inc.'s holdings, making the stock its 24th biggest position. Nippon Life Global Investors Americas Inc.'s holdings in AON were worth $34,925,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in AON during the fourth quarter valued at approximately $4,305,000. Callan Family Office LLC lifted its position in AON by 220.7% during the third quarter. Callan Family Office LLC now owns 11,675 shares of the financial services provider's stock valued at $4,163,000 after acquiring an additional 8,034 shares during the last quarter. Caprock Group LLC purchased a new stake in AON during the third quarter valued at approximately $1,752,000. Veritas Asset Management LLP lifted its position in AON by 19.3% during the third quarter. Veritas Asset Management LLP now owns 2,053,673 shares of the financial services provider's stock valued at $732,299,000 after acquiring an additional 332,685 shares during the last quarter. Finally, Savant Capital LLC lifted its position in AON by 64.9% during the third quarter. Savant Capital LLC now owns 19,092 shares of the financial services provider's stock valued at $6,808,000 after acquiring an additional 7,512 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

AON has been the subject of a number of analyst reports. The Goldman Sachs Group set a $395.00 target price on shares of AON in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods cut their price target on shares of AON from $416.00 to $401.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Cantor Fitzgerald upped their price target on shares of AON from $393.00 to $412.00 and gave the company an "overweight" rating in a research note on Monday, February 2nd. Wells Fargo & Company cut their price target on shares of AON from $443.00 to $402.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Finally, Jefferies Financial Group restated a "buy" rating and set a $408.00 price target on shares of AON in a research note on Monday, February 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $401.81.

AON Stock Up 0.1%

NYSE:AON opened at $321.47 on Monday. The firm has a market capitalization of $68.88 billion, a P/E ratio of 18.89, a PEG ratio of 1.75 and a beta of 0.83. Aon plc has a 1-year low of $304.59 and a 1-year high of $381.00. The company's fifty day moving average price is $325.69 and its 200-day moving average price is $338.22. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts' consensus estimates of $4.75 by $0.10. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.38 billion. AON had a net margin of 21.51% and a return on equity of 45.23%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.42 earnings per share. As a group, equities research analysts anticipate that Aon plc will post 18.98 EPS for the current year.

AON Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a dividend of $0.82 per share. This is a boost from AON's previous quarterly dividend of $0.75. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, May 1st. AON's dividend payout ratio (DPR) is 17.51%.

Insider Buying and Selling at AON

In related news, General Counsel Darren Zeidel sold 5,040 shares of the firm'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 sale, the general counsel owned 20,254 shares in the company, valued at approximately $6,598,550.66. This trade represents a 19.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lester B. Knight purchased 4,000 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were purchased at an average price of $319.24 per share, for a total transaction of $1,276,960.00. Following the transaction, the director owned 143,000 shares of the company's stock, valued at $45,651,320. This trade represents a 2.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

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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