Aon plc $AON Stock Acquired by Howard Capital Management LLC

Howard Capital Management LLC lifted its holdings in Aon plc (NYSE:AON) by 1,197.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,915 shares of the financial services provider’s stock after buying an additional 13,765 shares during the quarter. Howard Capital Management LLC’s holdings in AON were worth $4,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of AON by 16.3% during the first quarter. Bank of America Corp DE now owns 1,582,680 shares of the financial services provider’s stock worth $510,857,000 after purchasing an additional 222,092 shares in the last quarter. Amundi raised its position in AON by 23.5% during the 1st quarter. Amundi now owns 1,502,890 shares of the financial services provider’s stock worth $485,103,000 after buying an additional 285,549 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AON by 20.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,253,769 shares of the financial services provider’s stock valued at $404,709,000 after purchasing an additional 213,051 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in AON by 74.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 797,418 shares of the financial services provider’s stock worth $257,391,000 after acquiring an additional 340,866 shares during the period. Finally, Ninety One UK Ltd raised its position in shares of AON by 419.8% in the third quarter. Ninety One UK Ltd now owns 836,932 shares of the financial services provider’s stock worth $231,638,000 after acquiring an additional 675,919 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of AON from $375.00 to $401.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Mizuho lowered their price target on AON from $366.00 to $324.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 7th. TD Cowen boosted their price target on AON from $416.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Evercore reduced their price objective on AON from $423.00 to $375.00 in a research note on Thursday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of AON in a research report on Tuesday, September 1st. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $367.59.

Insider Buying and Selling at AON

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total transaction of $717,744.00. Following the completion of the sale, the general counsel owned 11,504 shares in the company, valued at $4,345,751.04. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lester B. Knight bought 20,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average cost of $327.48 per share, for a total transaction of $6,549,600.00. Following the completion of the acquisition, the director directly owned 163,000 shares of the company’s stock, valued at $53,379,240. This trade represents a 13.99% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.00% of the company’s stock.

AON Stock Up 1.9%

Shares of NYSE:AON traded up $5.48 during midday trading on Friday, reaching $292.28. The company had a trading volume of 1,840,129 shares, compared to its average volume of 1,945,715. The stock has a market capitalization of $62.00 billion, a P/E ratio of 16.11, a PEG ratio of 1.50 and a beta of 0.70. The stock’s fifty day moving average price is $310.87 and its 200-day moving average price is $326.09. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54. Aon plc has a one year low of $266.33 and a one year high of $382.34.

AON (NYSE:AON) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.01. AON had a net margin of 22.27% and a return on equity of 42.13%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the business earned $3.49 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts expect that Aon plc will post 18.74 earnings per share for the current fiscal year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 2nd. AON’s dividend payout ratio is currently 18.08%.

Key Headlines Impacting AON

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

About AON

Aon plc is a global professional services firm that helps organizations manage risk, make better decisions and improve performance. Its services are organized around risk capital and human capital, combining advisory expertise, data, analytics and insurance-related solutions.

The company provides commercial risk brokerage and consulting, reinsurance brokerage, retirement and investment advisory services, health benefits consulting, talent and compensation consulting, and related technology and data products.