Spectrum Asset Management Inc. NB CA Invests $1.15 Million in Aon PLC (AON)

Spectrum Asset Management Inc. NB CA acquired a new stake in shares of Aon PLC (NYSE:AON) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,495 shares of the financial services provider’s stock, valued at approximately $1,153,000.

Other hedge funds have also added to or reduced their stakes in the company. Townsend & Associates Inc bought a new position in AON during the second quarter valued at $106,000. Pinebridge Investments L.P. bought a new position in AON during the second quarter valued at $132,000. Shine Investment Advisory Services Inc. lifted its position in AON by 1,468.2% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,035 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 969 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in AON during the third quarter valued at $163,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in AON by 50.0% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,200 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

In other news, insider Michael Neller sold 750 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $143.58, for a total value of $107,685.00. Following the sale, the insider now owns 787 shares of the company’s stock, valued at $112,997.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey C. Campbell bought 5,550 shares of AON stock in a transaction dated Monday, August 6th. The stock was purchased at an average cost of $143.84 per share, for a total transaction of $798,312.00. Following the purchase, the director now owns 7,084 shares of the company’s stock, valued at approximately $1,018,962.56. The disclosure for this purchase can be found here. In the last three months, insiders sold 8,750 shares of company stock worth $1,327,685. Insiders own 0.42% of the company’s stock.



Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of AON from a “buy” rating to a “hold” rating in a research report on Friday, July 6th. Sandler O’Neill upgraded shares of AON from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Co set a $143.00 price objective on shares of AON and gave the company a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $164.00 price objective on shares of AON in a research report on Sunday, July 29th. Finally, Credit Suisse Group assumed coverage on shares of AON in a research report on Tuesday, August 7th. They set a “neutral” rating and a $154.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $158.38.

Shares of AON traded up $2.88 during midday trading on Monday, hitting $155.19. The stock had a trading volume of 1,708,825 shares, compared to its average volume of 995,370. Aon PLC has a 1 year low of $130.87 and a 1 year high of $158.77. The company has a market cap of $36.96 billion, a P/E ratio of 23.80, a P/E/G ratio of 1.63 and a beta of 0.99. The company has a current ratio of 1.41, a quick ratio of 1.63 and a debt-to-equity ratio of 1.31.

AON (NYSE:AON) last announced its earnings results on Friday, October 26th. The financial services provider reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.09. AON had a net margin of 7.06% and a return on equity of 43.96%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. Analysts predict that Aon PLC will post 8.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, October 31st. AON’s dividend payout ratio is currently 24.54%.

AON 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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Institutional Ownership by Quarter for AON (NYSE:AON)

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