Pinnacle Financial Partners Inc. acquired a new stake in Aon PLC (NYSE:AON) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,349 shares of the financial services provider’s stock, valued at approximately $207,000.
Several other large investors also recently modified their holdings of the company. Robecosam AG lifted its position in AON by 5.2% during the third quarter. Robecosam AG now owns 45,099 shares of the financial services provider’s stock worth $7,021,000 after buying an additional 2,230 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in AON by 61.6% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 63,351 shares of the financial services provider’s stock worth $9,742,000 after buying an additional 24,149 shares during the period. Frontier Capital Management Co. LLC lifted its position in AON by 7.5% during the third quarter. Frontier Capital Management Co. LLC now owns 527,538 shares of the financial services provider’s stock worth $81,125,000 after buying an additional 36,688 shares during the period. Arizona State Retirement System lifted its position in AON by 1.8% during the third quarter. Arizona State Retirement System now owns 88,355 shares of the financial services provider’s stock worth $13,587,000 after buying an additional 1,599 shares during the period. Finally, Spectrum Asset Management Inc. NB CA acquired a new stake in AON during the third quarter worth about $1,153,000. Institutional investors and hedge funds own 83.41% of the company’s stock.
Shares of NYSE:AON opened at $156.18 on Friday. The stock has a market cap of $37.62 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.63 and a beta of 0.85. The company has a quick ratio of 1.63, a current ratio of 1.41 and a debt-to-equity ratio of 1.31. Aon PLC has a 12 month low of $130.87 and a 12 month high of $159.72.
AON (NYSE:AON) last announced its quarterly earnings results on Friday, October 26th. The financial services provider reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.09. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.39 billion. AON had a return on equity of 43.96% and a net margin of 7.06%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. Research analysts predict that Aon PLC will post 8.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 31st. This represents a $1.60 annualized dividend and a yield of 1.02%. AON’s dividend payout ratio is presently 24.54%.
In other news, insider Michael Neller sold 750 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $143.58, for a total value of $107,685.00. Following the completion of the sale, the insider now owns 787 shares in the company, valued at $112,997.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Caroline Grace sold 4,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $150.00, for a total value of $600,000.00. The disclosure for this sale can be found here. Insiders have sold 8,750 shares of company stock valued at $1,327,685 over the last 90 days. 0.42% of the stock is currently owned by insiders.
Several equities research analysts have commented on AON shares. Credit Suisse Group started coverage on AON in a research note on Tuesday, August 7th. They set a “neutral” rating and a $154.00 price target for the company. Citigroup upped their price target on AON from $167.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, October 12th. Wells Fargo & Co set a $143.00 price target on AON and gave the stock a “hold” rating in a research note on Friday, October 26th. Sandler O’Neill upgraded AON from a “hold” rating to a “buy” rating in a research note on Monday, October 29th. Finally, Zacks Investment Research lowered AON from a “buy” rating to a “hold” rating in a research note on Friday, July 6th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $157.29.
AON Company Profile
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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