Darren Zeidel Sells 1,900 Shares of AON (NYSE:AON) Stock

Aon plc (NYSE:AON) General Counsel Darren Zeidel sold 1,900 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total transaction of $717,744.00. Following the sale, the general counsel directly owned 11,504 shares in the company, valued at $4,345,751.04. This trade represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Darren Zeidel also recently made the following trade(s):

• On Friday, July 17th, Darren Zeidel sold 1,950 shares of AON stock. The stock was sold at an average price of $372.05, for a total transaction of $725,497.50.
• On Tuesday, July 7th, Darren Zeidel sold 600 shares of AON stock. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00.

AON Stock Down 2.6%

Shares of AON traded down $9.90 on Thursday, hitting $367.26. 4,227,682 shares of the stock traded hands, compared to its average volume of 1,506,710. Aon plc has a one year low of $304.59 and a one year high of $382.34. The company has a market capitalization of $78.44 billion, a PE ratio of 20.16, a P/E/G ratio of 2.00 and a beta of 0.71. The business has a 50 day simple moving average of $339.64 and a 200 day simple moving average of $331.76. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95.

AON (NYSE:AON) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.01. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.49 EPS. As a group, equities analysts forecast that Aon plc will post 19.09 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. AON’s dividend payout ratio (DPR) is 18.00%.

More AON News

Here are the key news stories impacting AON this week:

• Positive Sentiment: Analysts raised price targets: Citigroup increased its target from $420 to $435 and upgraded AON to “Buy,” while Wells Fargo raised its target from $406 to $419 and maintained an “Overweight” rating. The firms cited upside potential following the results. Benzinga analyst rating reports
• Positive Sentiment: Profitability exceeded expectations: Aon reported second-quarter adjusted earnings of $3.81 per share, ahead of the approximately $3.80 consensus and up from $3.49 a year earlier. Results were supported by new-business wins, strong client retention, organic growth and operating-margin expansion. Aon Q2 earnings beat article
• Positive Sentiment: Capital returns and guidance were supportive: Reinsurance and property-and-casualty businesses helped drive second-quarter growth, while Aon reportedly accelerated share repurchases to a record pace. Management reaffirmed its full-year guidance, reducing concerns about a material deterioration in the outlook. Aon buyback and business growth article
• Neutral Sentiment: Revenue growth remained positive but modest: Total revenue rose 2.2% year over year to $4.25 billion, with organic revenue growth of 5%. However, the result was below the $4.28 billion analyst consensus, making revenue execution the key issue for investors. Aon second-quarter results
• Negative Sentiment: The revenue miss overshadowed the EPS beat: Initial market coverage characterized the reaction as negative because Aon’s top-line performance fell short of expectations. The stock also faces some valuation sensitivity after trading near its 52-week high, increasing the market’s demand for stronger revenue growth. Aon earnings revenue miss article
• Negative Sentiment: Insider selling was a minor cautionary signal: General Counsel Darren Zeidel sold 1,950 shares worth approximately $725,500, following an earlier sale. The transaction is small relative to AON’s market value but may add modest pressure to sentiment. Aon insider sale article

Institutional Trading of AON

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in AON by 28.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock worth $5,246,000 after acquiring an additional 3,253 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of AON by 9.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock valued at $34,992,000 after purchasing an additional 8,216 shares during the period. Alliancebernstein L.P. boosted its holdings in AON by 35.2% in the 2nd quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock worth $104,249,000 after buying an additional 76,061 shares during the period. Diversify Advisory Services LLC increased its stake in AON by 27.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock worth $995,000 after buying an additional 583 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of AON by 46.1% in the second quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock valued at $14,286,000 after acquiring an additional 12,631 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

AON has been the topic of several research analyst reports. Cantor Fitzgerald upped their target price on shares of AON from $416.00 to $445.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler increased their price objective on shares of AON from $377.00 to $391.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup lifted their target price on shares of AON from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price target on AON from $396.00 to $412.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Barclays lifted their price objective on AON from $372.00 to $382.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AON currently has an average rating of “Moderate Buy” and an average target price of $407.19.

AON Company 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.