Modern Wealth Management LLC Makes New Investment in Aon plc $AON

Modern Wealth Management LLC purchased a new position in shares of Aon plc (NYSE:AON) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,550 shares of the financial services provider’s stock, valued at approximately $820,000.

A number of other institutional investors have also modified their holdings of AON. Aviva PLC boosted its holdings in shares of AON by 2.0% in the 4th quarter. Aviva PLC now owns 333,454 shares of the financial services provider’s stock valued at $117,669,000 after purchasing an additional 6,622 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of AON by 21.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,552 shares of the financial services provider’s stock worth $13,251,000 after buying an additional 6,509 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of AON by 9.1% in the 4th quarter. Handelsbanken Fonder AB now owns 67,034 shares of the financial services provider’s stock worth $23,655,000 after buying an additional 5,585 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in AON by 1,864.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 343,754 shares of the financial services provider’s stock valued at $121,304,000 after acquiring an additional 326,256 shares during the last quarter. Finally, Highland Capital Management LLC purchased a new stake in AON during the fourth quarter valued at about $1,359,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at AON

In other news, General Counsel Darren Zeidel sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $360.00, for a total transaction of $216,000.00. Following the completion of the transaction, the general counsel directly owned 15,354 shares of the company’s stock, valued at approximately $5,527,440. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

AON Trading Down 0.1%

AON opened at $361.26 on Monday. Aon plc has a 12-month low of $304.59 and a 12-month high of $381.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $77.16 billion, a PE ratio of 19.83, a P/E/G ratio of 1.89 and a beta of 0.71. The firm’s fifty day moving average price is $336.57 and its 200 day moving average price is $331.24.

AON (NYSE:AON) last announced its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the prior year, the firm posted $5.67 earnings per share. AON’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts expect that Aon plc will post 19.09 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 3rd. AON’s payout ratio is presently 18.00%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays raised 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. Keefe, Bruyette & Woods dropped their target price on shares of AON from $404.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a research report on Friday, July 17th. Cantor Fitzgerald boosted their price objective on shares of AON from $416.00 to $445.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of AON from $396.00 to $412.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $404.56.

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.