Korea Investment CORP Boosts Stake in Aon plc $AON

Korea Investment CORP boosted its stake in Aon plc (NYSE:AON) by 19.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 125,553 shares of the financial services provider’s stock after purchasing an additional 20,043 shares during the period. Korea Investment CORP’s holdings in AON were worth $44,770,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of AON during the second quarter worth $754,671,000. Vanguard Group Inc. raised its holdings in shares of AON by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock valued at $7,238,569,000 after buying an additional 511,292 shares during the period. Altrinsic Global Advisors LLC lifted its stake in AON by 193.2% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 692,633 shares of the financial services provider’s stock worth $247,104,000 after acquiring an additional 456,399 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in AON by 92.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 889,332 shares of the financial services provider’s stock valued at $317,118,000 after acquiring an additional 428,361 shares during the period. Finally, Strive Asset Management LLC purchased a new position in AON during the 3rd quarter valued at about $142,986,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Price Performance

AON stock opened at $340.49 on Monday. The business has a 50 day moving average price of $337.61 and a 200 day moving average price of $348.02. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 1.55. The stock has a market cap 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 announced its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.75 by $0.10. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.38 billion. AON had a net margin of 21.51% and a return on equity of 45.23%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.42 earnings per share. Equities research analysts anticipate that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, February 2nd. AON’s dividend payout ratio (DPR) is currently 17.51%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Bank of America upgraded shares of AON from a “neutral” rating to an “outperform” rating and cut their price target for the stock from $398.00 to $397.00 in a research note on Friday, February 27th. Morgan Stanley set a $400.00 price objective on shares of AON in a report on Tuesday, December 16th. Mizuho raised shares of AON from a “neutral” rating to an “outperform” rating and set a $397.00 target price on the stock in a research note on Friday, February 27th. Wells Fargo & Company decreased their price target on shares of AON from $448.00 to $443.00 and set an “overweight” rating for the company in a research report on Sunday, February 1st. Finally, UBS Group restated a “neutral” rating and issued a $385.00 price target on shares of AON in a research note on Monday, February 2nd. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $408.94.

About AON

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.