Aon plc $AON Position Lifted by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in Aon plc (NYSE:AON) by 495.0% in the third quarter, Holdings Channel.com reports. The firm owned 19,128 shares of the financial services provider’s stock after acquiring an additional 15,913 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in AON were worth $5,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its stake in AON by 5.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the financial services provider’s stock worth $216,000 after buying an additional 33 shares during the last quarter. Aspen Grove Capital LLC grew its holdings in 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 buying an additional 34 shares in the last quarter. KCM Investment Advisors LLC increased its stake in shares of AON by 6.2% in the 1st quarter. KCM Investment Advisors LLC now owns 651 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 38 shares during the last quarter. RDA Financial Network increased its stake in shares of AON by 2.9% in the 2nd quarter. RDA Financial Network now owns 1,451 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 41 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC raised its holdings in shares of AON by 25.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 235 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Trading Up 1.9%

NYSE AON opened at $292.28 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $62.00 billion, a P/E ratio of 16.11, a PEG ratio of 1.53 and a beta of 0.70. The firm’s 50-day moving average is $310.87 and its two-hundred day moving average is $326.09. Aon plc has a 12 month low of $266.33 and a 12 month high of $382.34.

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

AON Announces Dividend

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

Insiders Place Their Bets

In other AON news, General Counsel Darren Zeidel sold 1,900 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $377.76, for a total transaction of $717,744.00. Following the transaction, the general counsel directly owned 11,504 shares in the company, valued at $4,345,751.04. This represents 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 the SEC website. Also, Director Lester Knight purchased 20,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were purchased at an average price of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the transaction, the director owned 163,000 shares of the company’s stock, valued at approximately $53,379,240. This trade represents a 13.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AON. TD Cowen raised their price objective on shares of AON from $416.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. BMO Capital Markets decreased their target price on shares of AON from $360.00 to $286.00 and set a “market perform” rating on the stock in a report on Thursday, October 1st. Weiss Ratings cut shares of AON from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 17th. Piper Sandler cut their price target on shares of AON from $391.00 to $349.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Finally, Morgan Stanley reduced their price target on shares of AON from $410.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $367.59.

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 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.