Aon plc $AON Stake Boosted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in Aon plc (NYSE:AON) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,015 shares of the financial services provider’s stock after purchasing an additional 22,607 shares during the quarter. Pictet Asset Management Holding SA’s holdings in AON were worth $31,279,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Downshift Financial LLC lifted its position in shares of AON by 15,700.0% in the 3rd quarter. Downshift Financial LLC now owns 158 shares of the financial services provider’s stock worth $44,000 after buying an additional 157 shares during the last quarter. Ashurst Perkins Coie Trust Co bought a new stake in shares of AON during the 3rd quarter valued at about $60,000. Cassaday & Co Wealth Management LLC acquired a new stake in AON during the first quarter worth about $61,000. Maryland Capital Advisors Inc. raised its stake in AON by 23,400.0% during the third quarter. Maryland Capital Advisors Inc. now owns 235 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 234 shares during the period. Finally, Clark Wealth Partners lifted its holdings in AON by 2,200.0% in the third quarter. Clark Wealth Partners now owns 253 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 242 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on AON from $323.00 to $364.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Jefferies Financial Group reduced their price objective on AON from $387.00 to $383.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Mizuho lowered their price objective on AON from $366.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Morgan Stanley dropped their target price on AON from $410.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. cut their target price on AON from $412.00 to $362.00 and set an “overweight” rating on the stock in a research note on Thursday, October 1st. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, AON has a consensus rating of “Hold” and an average price target of $369.12.

Insider Buying and Selling at AON

In other news, Director Lester Knight bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was acquired at an average price of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the purchase, the director directly owned 163,000 shares of the company’s stock, valued at $53,379,240. This represents a 13.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

AON Trading Up 0.1%

NYSE:AON opened at $336.27 on Wednesday. Aon plc has a 1 year low of $266.33 and a 1 year high of $382.34. The stock has a market cap of $71.34 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.77 and a beta of 0.63. The business has a fifty day moving average of $300.38 and a 200-day moving average of $325.95. The company has a debt-to-equity ratio of 2.58, a quick ratio of 4.72 and a current ratio of 4.72.

AON (NYSE:AON) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $3.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.06. AON had a net margin of 22.24% and a return on equity of 40.46%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm posted $3.05 EPS. AON’s revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Aon plc will post 18.47 earnings per share for the current year.

AON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 2nd. AON’s payout ratio is currently 17.96%.

About AON

Aon plc is a global professional services firm that helps organizations manage risk and make decisions about their people and finances. Its services include insurance brokerage, risk consulting, reinsurance solutions, employee benefits consulting and retirement and investment advisory services. The company serves businesses and institutions across a broad range of industries and geographies. Aon was formed in 1982 as Ryan Insurance Group and adopted the Aon name in 1987. It is headquartered in Dublin, Ireland, and operates internationally.