RDA Financial Network Purchases 4,989 Shares of Aon plc $AON

Key Points

• RDA Financial Network increased its Aon stake by 343.8% in the third quarter, purchasing 4,989 additional shares and bringing its total holdings to 6,440 shares valued at approximately $1.78 million.
• Aon shares recently traded at $287.07, while institutional investors and hedge funds collectively own 86.14% of the company. The stock has a consensus “Moderate Buy” rating and an average analyst price target of $367.59.
• Aon exceeded quarterly earnings expectations with $3.81 in earnings per share, declared a quarterly dividend of $0.82 per share, and reported mixed insider activity: a director purchased 20,000 shares while the general counsel sold 1,900 shares.

RDA Financial Network grew its position in shares of Aon plc (NYSE:AON - Free Report) by 343.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,440 shares of the financial services provider's stock after buying an additional 4,989 shares during the quarter. RDA Financial Network's holdings in AON were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AON. City National Bank of Florida MSD increased its position in shares of AON by 3.8% in the fourth quarter. City National Bank of Florida MSD now owns 867 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 32 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of AON by 5.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider's stock valued at $216,000 after purchasing an additional 33 shares in the last quarter. Aspen Grove Capital LLC grew its position in shares of 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 buying an additional 34 shares during the period. KCM Investment Advisors LLC grew its holdings in AON by 6.2% in the first quarter. KCM Investment Advisors LLC now owns 651 shares of the financial services provider's stock worth $210,000 after purchasing an additional 38 shares during the period. Finally, Basecamp Wealth Advisors LLC increased its position in AON by 25.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 235 shares of the financial services provider's stock valued at $76,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

AON Trading Up 4.3%

Shares of AON stock traded up $11.72 during trading hours on Thursday, reaching $287.07. 1,072,816 shares of the stock were exchanged, compared to its average volume of 1,526,026. Aon plc has a 12-month low of $266.33 and a 12-month high of $382.34. The company's 50-day moving average price is $313.65 and its 200-day moving average price is $326.52. The firm has a market capitalization of $60.89 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.70. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34.

AON (NYSE:AON - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.01. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.49 earnings per share. As a group, equities analysts anticipate that Aon plc will post 18.74 earnings per share for the current year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. AON's dividend payout ratio (DPR) is 18.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AON shares. Wolfe Research cut AON from a "hold" rating to a "strong sell" rating in a research report on Friday, September 11th. The Goldman Sachs Group boosted their target price on shares of AON from $375.00 to $401.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Cantor Fitzgerald reduced their price target on AON from $433.00 to $400.00 and set an "overweight" rating for the company in a research report on Wednesday, October 7th. Piper Sandler lowered their target price on shares of AON from $391.00 to $349.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 1st. Finally, Evercore lowered their price target on AON from $423.00 to $375.00 in a report on Thursday, October 8th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $367.59.

Insiders Place Their Bets

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total value of $717,744.00. Following the completion of the sale, the general counsel directly owned 11,504 shares in the company, valued at approximately $4,345,751.04. This represents a 14.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lester Knight purchased 20,000 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were purchased at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the transaction, the director directly owned 163,000 shares in the company, valued at approximately $53,379,240. This represents a 13.99% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.00% of the company's stock.

About AON

Aon plc is a global professional services firm that helps organizations manage risk, make better decisions and improve performance. Its services are organized around risk capital and human capital, combining advisory expertise, data, analytics and insurance-related solutions.

The company provides commercial risk brokerage and consulting, reinsurance brokerage, retirement and investment advisory services, health benefits consulting, talent and compensation consulting, and related technology and data products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.