Public Employees Retirement System of Ohio Invests $26.29 Million in Aon plc $AON

Key Points

• Public Employees Retirement System of Ohio bought 79,272 Aon shares worth approximately $26.29 million in the second quarter. Institutional investors collectively own 86.14% of Aon’s outstanding stock.
• Aon reported quarterly earnings of $3.81 per share, narrowly exceeding analyst estimates, while revenue rose 2.2% year over year to $4.25 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $412.62.
• Aon declared a quarterly dividend of $0.82 per share, equivalent to an annualized $3.28 dividend and a 0.9% yield. The company’s stock recently traded at $355.94, below its 52-week high of $382.34.

Public Employees Retirement System of Ohio bought a new stake in Aon plc (NYSE:AON - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 79,272 shares of the financial services provider's stock, valued at approximately $26,294,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City National Bank of Florida MSD boosted its stake in shares of AON by 3.8% during the 4th quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider's stock worth $306,000 after acquiring an additional 32 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in AON by 5.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider's stock worth $216,000 after purchasing an additional 33 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of AON by 2.6% in the fourth quarter. CENTRAL TRUST Co now owns 1,341 shares of the financial services provider's stock valued at $473,000 after buying an additional 34 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of AON by 0.4% during the 4th quarter. Larson Financial Group LLC now owns 9,584 shares of the financial services provider's stock valued at $3,382,000 after buying an additional 34 shares in the last quarter. Finally, Aspen Grove Capital LLC increased its holdings in AON by 4.8% in the 1st quarter. Aspen Grove Capital LLC now owns 737 shares of the financial services provider's stock worth $238,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Price Performance

Shares of NYSE AON opened at $355.94 on Friday. The firm has a 50-day simple moving average of $353.13 and a 200-day simple moving average of $333.77. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $75.50 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.80 and a beta of 0.69. Aon plc has a 52 week low of $304.59 and a 52 week high of $382.34.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, topping analysts' consensus estimates of $3.80 by $0.01. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. AON had a net margin of 22.27% and a return on equity of 42.13%. AON's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.49 earnings per share. On average, equities analysts predict that Aon plc will post 19.06 earnings per share for the current fiscal year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a $0.82 dividend. The ex-dividend date was Monday, August 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. AON's dividend payout ratio is 18.08%.

Analysts Set New Price Targets

Several research firms have issued reports on AON. Wells Fargo & Company increased their price objective on shares of AON from $406.00 to $419.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Morgan Stanley boosted their target price on shares of AON from $380.00 to $410.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. raised their price target on shares of AON from $396.00 to $412.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods boosted their price objective on AON from $400.00 to $412.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of AON in a report on Tuesday, August 18th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $412.62.

Insider Activity at AON

In related news, General Counsel Darren Zeidel sold 1,900 shares of AON stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total transaction of $717,744.00. Following the transaction, the general counsel owned 11,504 shares in the company, valued at approximately $4,345,751.04. This trade represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 4,450 shares of company stock valued at $1,659,242 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

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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