Spirepoint Private Client LLC Acquires New Position in Aon plc (NYSE:AON)

Spirepoint Private Client LLC acquired a new stake in Aon plc (NYSE:AON) during the first quarter, Holdings Channel reports. The firm acquired 1,107 shares of the financial services provider’s stock, valued at approximately $369,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cubic Asset Management LLC bought a new stake in AON in the 4th quarter valued at about $1,050,000. Charles Schwab Investment Management Inc. raised its stake in AON by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,309 shares of the financial services provider’s stock valued at $307,989,000 after acquiring an additional 5,727 shares during the period. Gryphon Financial Partners LLC raised its stake in AON by 262.7% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,127 shares of the financial services provider’s stock valued at $1,181,000 after acquiring an additional 2,989 shares during the period. Cerity Partners LLC raised its stake in AON by 177.4% in the 4th quarter. Cerity Partners LLC now owns 18,461 shares of the financial services provider’s stock valued at $5,372,000 after acquiring an additional 11,806 shares during the period. Finally, California State Teachers Retirement System raised its stake in AON by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 331,760 shares of the financial services provider’s stock valued at $96,549,000 after acquiring an additional 4,843 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AON. Wells Fargo & Company decreased their price target on AON from $289.00 to $287.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. upped their price target on AON from $353.00 to $379.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of AON in a research report on Tuesday, June 18th. Citigroup began coverage on AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $311.00 price target on shares of AON in a research report on Tuesday, May 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, AON has an average rating of “Hold” and a consensus target price of $321.36.

Insider Activity

In related news, Director Lester B. Knight acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the purchase, the director now owns 139,000 shares in the company, valued at approximately $38,448,790. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.15% of the company’s stock.

AON Stock Performance

AON traded down $3.51 during midday trading on Friday, hitting $296.17. The stock had a trading volume of 883,443 shares, compared to its average volume of 1,383,970. The company has a market cap of $64.40 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 1.97 and a beta of 0.91. The business has a fifty day moving average of $291.22 and a 200 day moving average of $302.26. Aon plc has a 1 year low of $268.06 and a 1 year high of $344.68.

AON (NYSE:AON) last issued its earnings results on Friday, April 26th. The financial services provider reported $5.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.86 by ($0.20). The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.14 billion. AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $5.17 EPS. On average, equities research analysts anticipate that Aon plc will post 15.41 earnings per share for the current year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, August 1st. AON’s dividend payout ratio (DPR) is presently 21.16%.

AON 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.