Mitsubishi UFJ Asset Management Co. Ltd. Buys 182,688 Shares of Aon plc (NYSE:AON)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Aon plc (NYSE:AON - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,472,309 shares of the financial services provider's stock after purchasing an additional 182,688 shares during the quarter. AON comprises 0.8% of Mitsubishi UFJ Asset Management Co. Ltd.'s holdings, making the stock its 26th largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.74% of AON worth $428,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AON. Park Avenue Securities LLC purchased a new position in shares of AON in the third quarter worth about $1,069,000. ING Groep NV raised its position in AON by 3,153.1% during the third quarter. ING Groep NV now owns 5,758 shares of the financial services provider's stock valued at $1,867,000 after acquiring an additional 5,581 shares in the last quarter. Financial Advocates Investment Management raised its position in AON by 3.7% during the third quarter. Financial Advocates Investment Management now owns 1,301 shares of the financial services provider's stock valued at $422,000 after acquiring an additional 46 shares in the last quarter. Assetmark Inc. raised its position in AON by 10.2% during the third quarter. Assetmark Inc. now owns 5,057 shares of the financial services provider's stock valued at $1,640,000 after acquiring an additional 469 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in AON by 83.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 35,744 shares of the financial services provider's stock valued at $11,589,000 after acquiring an additional 16,269 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AON. Keefe, Bruyette & Woods lifted their price target on AON from $294.00 to $312.00 and gave the company an "underperform" rating in a research report on Wednesday, April 10th. Piper Sandler cut their price objective on AON from $326.00 to $312.00 and set a "neutral" rating for the company in a research report on Monday, April 29th. Bank of America cut their price objective on AON from $378.00 to $345.00 and set a "neutral" rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their price objective on AON from $318.00 to $353.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company cut their price objective on AON from $300.00 to $289.00 and set an "underweight" rating for the company in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $329.69.

Insider Transactions at AON

In related news, CFO Christa Davies sold 40,164 shares of AON stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $313.29, for a total value of $12,582,979.56. Following the completion of the transaction, the chief financial officer now directly owns 159,570 shares in the company, valued at $49,991,685.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AON news, CFO Christa Davies sold 40,164 shares of AON stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $313.29, for a total value of $12,582,979.56. Following the completion of the transaction, the chief financial officer now directly owns 159,570 shares in the company, valued at $49,991,685.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Neller sold 750 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $312.00, for a total value of $234,000.00. Following the transaction, the insider now owns 3,869 shares of the company's stock, valued at $1,207,128. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,914 shares of company stock valued at $16,915,360. 1.15% of the stock is currently owned by insiders.

AON Stock Down 0.1 %

Shares of AON stock traded down $0.17 during mid-day trading on Wednesday, hitting $287.75. 1,259,578 shares of the company's stock were exchanged, compared to its average volume of 1,175,144. Aon plc has a fifty-two week low of $268.06 and a fifty-two week high of $347.37. The stock has a 50-day simple moving average of $309.98 and a two-hundred day simple moving average of $311.00. The stock has a market cap of $62.57 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.82 and a beta of 0.90.

AON (NYSE:AON - Get Free Report) last issued its earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The firm had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4.14 billion. During the same period last year, the business posted $5.17 earnings per share. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that Aon plc will post 15.57 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.94%. This is a positive change from AON's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, April 30th. AON's payout ratio is presently 21.16%.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.