Varma Mutual Pension Insurance Co Has $16.27 Million Stake in Aon plc $AON

Key Points

• Varma Mutual Pension Insurance increased its stake in Aon by 12.4%, adding 5,100 shares to hold 46,100 shares worth about $16.27 million per its latest SEC filing.
• Aon reported an earnings beat for the quarter with $6.48 EPS versus $6.37 expected and revenue of $5.03 billion (up 6.4% year-over-year), while delivering a 22.54% net margin and 43.5% return on equity.
• Analysts maintain a consensus "Moderate Buy" on Aon with an average target of $398.19, and the company recently raised its quarterly dividend to $0.82 ($3.28 annualized, ~1.0% yield).

Varma Mutual Pension Insurance Co increased its stake in shares of Aon plc (NYSE:AON - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,100 shares of the financial services provider's stock after acquiring an additional 5,100 shares during the period. Varma Mutual Pension Insurance Co's holdings in AON were worth $16,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound View Wealth Advisors Group LLC increased its stake in AON by 1.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider's stock valued at $683,000 after buying an additional 29 shares during the last quarter. Kathmere Capital Management LLC increased its stake in AON by 2.1% in the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider's stock valued at $558,000 after buying an additional 32 shares during the last quarter. Westpac Banking Corp increased its stake in AON by 5.6% in the 3rd quarter. Westpac Banking Corp now owns 620 shares of the financial services provider's stock valued at $221,000 after buying an additional 33 shares during the last quarter. Capital Investment Advisors LLC increased its stake in AON by 1.8% in the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider's stock valued at $664,000 after buying an additional 33 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its stake in AON by 39.3% in the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider's stock valued at $41,000 after buying an additional 33 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AON has been the topic of several recent research reports. Evercore reiterated an "outperform" rating and issued a $436.00 price target on shares of AON in a research note on Wednesday, January 7th. UBS Group reiterated a "neutral" rating and issued a $385.00 price target on shares of AON in a research note on Monday, February 2nd. Jefferies Financial Group reiterated a "buy" rating and issued a $408.00 price target on shares of AON in a research note on Monday, February 2nd. JPMorgan Chase & Co. lowered their price objective on shares of AON from $406.00 to $396.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Finally, Piper Sandler lowered their price objective on shares of AON from $388.00 to $355.00 and set an "overweight" rating on the stock in a research note on Monday. Fourteen 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $398.19.

AON Stock Up 1.1%

AON stock opened at $314.84 on Tuesday. The firm has a market capitalization of $67.24 billion, a PE ratio of 17.28, a P/E/G ratio of 1.70 and a beta of 0.72. The company's 50-day moving average is $325.41 and its 200-day moving average is $337.13. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $381.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 2.03.

AON (NYSE:AON - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The financial services provider reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.37 by $0.11. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. AON had a net margin of 22.54% and a return on equity of 43.50%. AON's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.67 EPS. Sell-side analysts anticipate that Aon plc will post 18.98 earnings per share 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 issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 1st. This is a positive change from AON's previous quarterly dividend of $0.75. AON's payout ratio is presently 16.36%.

Insider Activity

In related news, Director Lester B. Knight bought 4,000 shares of AON stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average price of $319.24 per share, with a total value of $1,276,960.00. Following the acquisition, the director owned 143,000 shares of the company's stock, valued at approximately $45,651,320. This represents a 2.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the sale, the general counsel directly owned 20,254 shares of the company's stock, valued at $6,598,550.66. The trade was a 19.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% 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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