Aon plc $AON Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its stake in Aon plc (NYSE:AON) by 1,630.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,877 shares of the financial services provider’s stock after acquiring an additional 142,159 shares during the period. TD Waterhouse Canada Inc.’s holdings in AON were worth $41,758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its position in AON by 5.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 33 shares during the period. Aspen Grove Capital LLC grew its stake in shares of AON by 4.8% in the 1st quarter. Aspen Grove Capital LLC now owns 737 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 34 shares during the last quarter. KCM Investment Advisors LLC increased its holdings in shares of AON by 6.2% in the first quarter. KCM Investment Advisors LLC now owns 651 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 38 shares during the period. RDA Financial Network increased its holdings in shares of AON by 2.9% in the second quarter. RDA Financial Network now owns 1,451 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 41 shares during the period. Finally, Basecamp Wealth Advisors LLC increased its holdings in shares of AON by 25.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 235 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 47 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Key AON News

Here are the key news stories impacting AON this week:

• Positive Sentiment: Aon secured the sole-broker role for Zurich’s marine and energy excess-of-loss reinsurance account, a business win that could support brokerage revenue and reinforce Aon’s position in specialty risk markets. Aon wins sole broker position on Zurich marine and energy XoL account
• Positive Sentiment: Aon and the European Bank for Reconstruction and Development expanded support for Ukraine war-risk reinsurance. The initiative could create additional specialty-risk opportunities and highlights Aon’s role in rebuilding insurance capacity in Ukraine. Aon, EBRD expand Ukraine war risk reinsurance
• Positive Sentiment: Aon promoted Chris Rafferty to chief integration officer for its Investment Management and Outsourcing business, while also appointing a Chicago leader. The moves may support integration and execution, although they are not immediate earnings catalysts. Aon promotes Chris Rafferty
• Neutral Sentiment: Aon appointed Leonora Siccardi as global chief execution officer for Risk Capital and Human Capital, effective October 14, adding a senior leadership change without clear near-term financial implications. Aon appoints Leonora Siccardi
• Neutral Sentiment: Preview coverage ahead of Aon’s next quarterly report focuses on expectations for results. Investors will likely watch organic growth, margins, retention and guidance following the company’s prior quarter of modest revenue growth. What to expect from Aon’s next quarterly earnings report
• Negative Sentiment: Morgan Stanley reduced its AON price target to $350, following Cantor Fitzgerald’s cut to $400 from $433. Although both targets remain above the current share level, the reductions signal more cautious expectations for valuation or growth. Morgan Stanley cuts Aon price target

AON Stock Up 1.9%

Shares of NYSE AON opened at $292.28 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. Aon plc has a 52 week low of $266.33 and a 52 week high of $382.34. The firm has a 50-day moving average price of $310.87 and a 200 day moving average price of $326.09. The stock has a market capitalization of $62.00 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70.

AON (NYSE:AON) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.01. AON had a net margin of 22.27% and a return on equity of 42.13%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Aon plc will post 18.73 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, November 2nd. AON’s dividend payout ratio (DPR) is presently 18.08%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AON. Barclays decreased their price target on AON from $382.00 to $317.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. Wolfe Research lowered shares of AON from a “hold” rating to a “strong sell” rating in a research report on Friday, September 11th. Jefferies Financial Group dropped their price objective on shares of AON from $387.00 to $383.00 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. Keefe, Bruyette & Woods cut their price objective on shares of AON from $417.00 to $342.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Finally, Cantor Fitzgerald reduced their target price on shares of AON from $433.00 to $400.00 and set an “overweight” rating for the company in a research note on Wednesday, October 7th. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.59.

Insider Buying and Selling

In other news, Director Lester Knight purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average price of $327.48 per share, with a total value of $6,549,600.00. Following the purchase, the director directly owned 163,000 shares of the company’s stock, valued at $53,379,240. The trade was a 13.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Darren Zeidel sold 1,900 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total value 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 position. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by company insiders.

AON Company Profile

Aon plc is a global professional services firm that helps organizations manage risk, make informed decisions and improve workforce outcomes. Its services span commercial risk, health, retirement and investments, and data and analytics.

The company provides insurance brokerage and risk-management services, including coverage placement, claims support, risk transfer and consulting. Through its reinsurance business, Aon also serves insurers and other organizations seeking to manage catastrophe, capital and underwriting risks.

Aon’s human capital offerings include employee benefits consulting, retirement advisory services, talent and compensation consulting, and health and workforce solutions.