Longview Partners Guernsey LTD Has $1.25 Billion Stock Position in Aon PLC (NYSE:AON)
Longview Partners Guernsey LTD raised its position in shares of Aon PLC (NYSE:AON) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,502,583 shares of the financial services provider’s stock after acquiring an additional 531,216 shares during the period. AON makes up approximately 6.1% of Longview Partners Guernsey LTD’s investment portfolio, making the stock its 5th largest position. Longview Partners Guernsey LTD owned about 2.76% of AON worth $1,254,868,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of AON. Lazard Asset Management LLC boosted its stake in shares of AON by 12.3% in the first quarter. Lazard Asset Management LLC now owns 9,299,944 shares of the financial services provider’s stock valued at $1,587,498,000 after buying an additional 1,017,180 shares during the period. BlackRock Inc. boosted its stake in shares of AON by 4.0% in the first quarter. BlackRock Inc. now owns 16,630,110 shares of the financial services provider’s stock valued at $2,838,761,000 after buying an additional 632,726 shares during the period. Mawer Investment Management Ltd. boosted its stake in shares of AON by 7.8% in the first quarter. Mawer Investment Management Ltd. now owns 6,185,665 shares of the financial services provider’s stock valued at $1,055,893,000 after buying an additional 448,696 shares during the period. Geode Capital Management LLC boosted its stake in shares of AON by 10.2% in the fourth quarter. Geode Capital Management LLC now owns 2,880,464 shares of the financial services provider’s stock valued at $417,905,000 after buying an additional 266,133 shares during the period. Finally, FMR LLC boosted its stake in shares of AON by 25.2% in the first quarter. FMR LLC now owns 1,148,742 shares of the financial services provider’s stock valued at $196,090,000 after buying an additional 231,231 shares during the period. Institutional investors own 85.83% of the company’s stock.
AON has been the subject of several recent analyst reports. Wells Fargo & Co restated a “hold” rating and set a $195.00 target price on shares of AON in a research note on Friday, July 26th. UBS Group upped their target price on AON from $181.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. MKM Partners upgraded AON to a “buy” rating and upped their target price for the stock from $210.00 to $225.00 in a research note on Monday, June 24th. Barclays set a $190.00 target price on AON and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Morgan Stanley upped their target price on AON from $197.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $186.64.
AON (NYSE:AON) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.01). The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.69 billion. AON had a return on equity of 48.75% and a net margin of 13.14%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company posted $1.71 earnings per share. As a group, sell-side analysts anticipate that Aon PLC will post 9.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.44 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.76 annualized dividend and a dividend yield of 0.92%. AON’s dividend payout ratio (DPR) is presently 21.57%.
In other news, COO John G. Bruno sold 7,600 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $192.30, for a total transaction of $1,461,480.00. Following the completion of the transaction, the chief operating officer now directly owns 46,252 shares in the company, valued at $8,894,259.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Neller sold 750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $193.29, for a total transaction of $144,967.50. Following the transaction, the insider now owns 2,192 shares of the company’s stock, valued at $423,691.68. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.
Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
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