Bowie Capital Management LLC Has $127.26 Million Stock Holdings in Aon plc $AON

Bowie Capital Management LLC increased its holdings in shares of Aon plc (NYSE:AON) by 31.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,887 shares of the financial services provider’s stock after purchasing an additional 84,446 shares during the period. AON makes up 5.5% of Bowie Capital Management LLC’s portfolio, making the stock its 5th biggest position. Bowie Capital Management LLC’s holdings in AON were worth $127,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AON. Atlantic Union Bankshares Corp acquired a new stake in AON during the 2nd quarter worth approximately $31,000. Andra AP fonden bought a new position in AON in the second quarter valued at approximately $81,000. Modera Wealth Management LLC boosted its holdings in shares of AON by 5.7% in the second quarter. Modera Wealth Management LLC now owns 13,272 shares of the financial services provider’s stock valued at $4,735,000 after buying an additional 714 shares during the period. Savant Capital LLC increased its position in shares of AON by 0.9% during the second quarter. Savant Capital LLC now owns 11,580 shares of the financial services provider’s stock worth $4,131,000 after acquiring an additional 102 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its holdings in shares of AON by 29.3% during the second quarter. Vestmark Advisory Solutions Inc. now owns 11,543 shares of the financial services provider’s stock worth $4,118,000 after acquiring an additional 2,618 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of AON from $379.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Citigroup boosted their price target on AON from $402.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Keefe, Bruyette & Woods upped their price objective on AON from $410.00 to $416.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Wells Fargo & Company dropped their target price on AON from $448.00 to $443.00 and set an “overweight” rating on the stock in a research report on Sunday, February 1st. Finally, Jefferies Financial Group restated a “buy” rating and issued a $408.00 target price on shares of AON in a research note on Monday, February 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AON has a consensus rating of “Moderate Buy” and a consensus price target of $408.94.

AON Price Performance

Shares of NYSE AON opened at $340.49 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03. The business has a 50-day moving average of $337.61 and a 200-day moving average of $348.20. The stock has a market capitalization of $72.95 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.79 and a beta of 0.82. Aon plc has a fifty-two week low of $304.59 and a fifty-two week high of $407.07.

AON (NYSE:AON) last released its earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $0.10. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.38 billion. AON had a return on equity of 45.23% and a net margin of 21.51%.AON’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.42 earnings per share. As a group, sell-side analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, February 2nd. AON’s dividend payout ratio is presently 17.51%.

Insider Buying and Selling at AON

In related news, General Counsel Darren Zeidel sold 5,040 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the transaction, the general counsel directly owned 20,254 shares in the company, valued at approximately $6,598,550.66. The trade was a 19.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lester B. Knight purchased 4,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were purchased at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the transaction, the director directly owned 143,000 shares of the company’s stock, valued at approximately $45,651,320. This represents a 2.88% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

AON Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.