Waverly Advisors LLC Has $7.12 Million Position in Aon plc $AON

Key Points

• Waverly Advisors increased its Aon position by 872.8% in the first quarter, owning 22,073 shares valued at approximately $7.12 million. Institutional investors collectively hold 86.14% of AON’s outstanding stock.
• Aon reported quarterly earnings of $6.48 per share, exceeding estimates of $6.37, while revenue rose 6.4% year over year to $5.03 billion. The company also declared a quarterly dividend of $0.82 per share, yielding about 0.9% annually.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and five Holds and a consensus price target of $404.56, above the reported trading price of $366.80.

Waverly Advisors LLC lifted its position in shares of Aon plc (NYSE:AON - Free Report) by 872.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,073 shares of the financial services provider's stock after acquiring an additional 19,804 shares during the period. Waverly Advisors LLC's holdings in AON were worth $7,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AON. Dodge & Cox increased its stake in shares of AON by 126.6% in the 4th quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider's stock valued at $2,770,975,000 after purchasing an additional 4,387,773 shares during the last quarter. Norges Bank bought a new position in AON in the fourth quarter valued at about $1,155,981,000. Viking Global Investors LP acquired a new position in AON during the third quarter worth about $504,424,000. Balyasny Asset Management L.P. lifted its holdings in shares of AON by 40,219.8% in the third quarter. Balyasny Asset Management L.P. now owns 846,715 shares of the financial services provider's stock worth $301,922,000 after acquiring an additional 844,615 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of AON in the 4th quarter valued at approximately $229,372,000. 86.14% of the stock is owned by institutional investors.

AON Trading Up 1.4%

NYSE:AON opened at $366.80 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $78.34 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.89 and a beta of 0.71. The firm has a fifty day simple moving average of $337.38 and a two-hundred day simple moving average of $331.37. Aon plc has a 12 month low of $304.59 and a 12 month high of $378.70.

AON (NYSE:AON - Get Free Report) last posted its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.37 by $0.11. AON had a net margin of 22.54% and a return on equity of 43.50%. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the firm posted $5.67 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. 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. Shareholders of record on Monday, August 3rd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 3rd. AON's dividend payout ratio (DPR) is 18.00%.

Insider Activity at AON

In other news, General Counsel Darren Zeidel sold 600 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the sale, the general counsel owned 15,354 shares in the company, valued at $5,527,440. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Mizuho upped their price objective on shares of AON from $389.00 to $426.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods cut their target price on shares of AON from $404.00 to $400.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Morgan Stanley upped their price objective on AON from $370.00 to $380.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their price objective on AON from $396.00 to $412.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Finally, Barclays increased their target price on shares of AON from $372.00 to $382.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, AON presently has an average rating of "Moderate Buy" and a consensus target price of $404.56.

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.

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.