Cambria Investment Management L.P. Makes New Investment in Aon plc $AON

Cambria Investment Management L.P. bought a new position in Aon plc (NYSE:AON) in the 3rd quarter, Holdings Channel reports. The firm bought 3,112 shares of the financial services provider’s stock, valued at approximately $1,110,000.

Several other institutional investors have also recently made changes to their positions in the company. TIAA Trust National Association increased its position in AON by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 2,569 shares of the financial services provider’s stock valued at $916,000 after purchasing an additional 50 shares during the period. NewSquare Capital LLC raised its stake in AON by 193.1% in the second quarter. NewSquare Capital LLC now owns 170 shares of the financial services provider’s stock worth $61,000 after buying an additional 112 shares in the last quarter. Arrowroot Family Office LLC purchased a new stake in AON during the second quarter worth $541,000. Atlantic Union Bankshares Corp bought a new stake in AON during the 2nd quarter valued at $31,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of AON in the 2nd quarter valued at $22,026,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Stock Performance

Shares of AON stock opened at $341.10 on Thursday. The company has a 50 day moving average price of $338.28 and a 200 day moving average price of $348.61. The firm has a market capitalization of $73.08 billion, a P/E ratio of 20.04, a PEG ratio of 1.79 and a beta of 0.82. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.55. Aon plc has a 52 week low of $304.59 and a 52 week high of $407.07.

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

AON Dividend Announcement

The firm 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 17.51%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AON shares. Wells Fargo & Company decreased their price objective on AON from $448.00 to $443.00 and set an “overweight” rating for the company in a research note on Sunday, February 1st. Jefferies Financial Group reissued a “buy” rating and set a $408.00 price target on shares of AON in a research report on Monday, February 2nd. JPMorgan Chase & Co. lowered their price target on shares of AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Mizuho upgraded shares of AON from a “neutral” rating to an “outperform” rating and set a $397.00 price objective for the company in a research note on Friday, February 27th. Finally, Bank of America upgraded shares of AON from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $398.00 to $397.00 in a research note on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, AON presently has an average rating of “Moderate Buy” and an average price target of $408.94.

Insiders Place Their Bets

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