The Manufacturers Life Insurance Company Increases Stake in Aon plc $AON

Key Points

• The Manufacturers Life Insurance Company increased its Aon stake by 136.1% in the first quarter, adding 315,817 shares to hold 547,850 shares worth approximately $176.8 million. Institutional investors collectively own 86.14% of Aon.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and five Holds; Aon has a consensus rating of “Moderate Buy” and an average price target of $404.56.
• Aon reported quarterly EPS of $3.81, slightly exceeding estimates, while revenue of $4.25 billion came in below expectations. The company declared a quarterly dividend of $0.82 per share, representing a 0.9% annualized yield.

The Manufacturers Life Insurance Company raised its stake in Aon plc (NYSE:AON - Free Report) by 136.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 547,850 shares of the financial services provider's stock after acquiring an additional 315,817 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.26% of AON worth $176,835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aviva PLC lifted its holdings in AON by 2.0% during the fourth quarter. Aviva PLC now owns 333,454 shares of the financial services provider's stock valued at $117,669,000 after purchasing an additional 6,622 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of AON by 21.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,552 shares of the financial services provider's stock worth $13,251,000 after purchasing an additional 6,509 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of AON by 9.1% during the 4th quarter. Handelsbanken Fonder AB now owns 67,034 shares of the financial services provider's stock worth $23,655,000 after purchasing an additional 5,585 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in AON by 1,864.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 343,754 shares of the financial services provider's stock valued at $121,304,000 after buying an additional 326,256 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new stake in AON in the 4th quarter worth about $1,359,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on AON from $396.00 to $412.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Barclays lifted their price target on AON from $372.00 to $382.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 7th. Cantor Fitzgerald increased their price objective on AON from $416.00 to $445.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Piper Sandler cut shares of AON from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $355.00 to $377.00 in a research note on Wednesday, July 15th. Finally, Morgan Stanley upped their target price on shares of AON from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, AON currently has an average rating of "Moderate Buy" and a consensus target price of $404.56.

AON Price Performance

NYSE:AON opened at $381.65 on Wednesday. Aon plc has a one year low of $304.59 and a one year high of $382.34. The stock has a market cap of $81.51 billion, a PE ratio of 20.95, a P/E/G ratio of 1.92 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day moving average price of $338.54 and a 200 day moving average price of $331.59.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings data 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. AON had a return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.28 billion. Equities research analysts expect that Aon plc will post 19.09 EPS for the current fiscal year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a $0.82 dividend. The ex-dividend date of this dividend is 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 currently 18.00%.

Insider Transactions at AON

In related news, General Counsel Darren Zeidel sold 1,950 shares of the firm's stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $372.05, for a total transaction of $725,497.50. Following the completion of the sale, the general counsel directly owned 13,404 shares in the company, valued at approximately $4,986,958.20. This trade represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.

AON Company 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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