Parkside Financial Bank & Trust Acquires 1,757 Shares of Aon plc $AON

Parkside Financial Bank & Trust grew its holdings in shares of Aon plc (NYSE:AON) by 38.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,283 shares of the financial services provider’s stock after buying an additional 1,757 shares during the period. Parkside Financial Bank & Trust’s holdings in AON were worth $2,084,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Aviva PLC boosted its position in shares of AON by 2.0% during the 4th quarter. Aviva PLC now owns 333,454 shares of the financial services provider’s stock worth $117,669,000 after purchasing an additional 6,622 shares in the last quarter. Handelsbanken Fonder AB grew its stake in AON by 9.1% in the fourth quarter. Handelsbanken Fonder AB now owns 67,034 shares of the financial services provider’s stock valued at $23,655,000 after acquiring an additional 5,585 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of AON by 1,864.5% during 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 in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of AON by 136.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 547,850 shares of the financial services provider’s stock worth $176,835,000 after purchasing an additional 315,817 shares in the last quarter. Finally, Ally Financial Inc. bought a new stake in AON during the 2nd quarter valued at $995,000. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Darren Zeidel sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $372.05, for a total value of $725,497.50. Following the transaction, the general counsel owned 13,404 shares in the company, valued at approximately $4,986,958.20. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lester B. Knight acquired 20,000 shares of AON stock in a transaction on Wednesday, September 2nd. The shares were purchased at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the acquisition, the director 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. Insiders have sold a total of 4,450 shares of company stock valued at $1,659,242 over the last three months. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AON. Citigroup lifted their price objective on shares of AON from $420.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Morgan Stanley increased their price objective on AON from $380.00 to $410.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods lifted their target price on AON from $412.00 to $417.00 and gave the company an “outperform” rating in a research report on Tuesday, September 1st. Wall Street Zen cut AON from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Wells Fargo & Company reduced their target price on shares of AON from $419.00 to $383.00 and set an “overweight” rating for the company in a research note on Tuesday, September 1st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $399.12.

AON Stock Down 0.2%

Shares of NYSE:AON opened at $322.57 on Tuesday. Aon plc has a 1 year low of $304.59 and a 1 year high of $382.34. The company has a market capitalization of $68.42 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.63 and a beta of 0.66. The business has a fifty day moving average price of $353.49 and a two-hundred day moving average price of $334.22. 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 (NYSE:AON) last released its earnings results 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. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. AON had a return on equity of 42.13% and a net margin of 22.27%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.49 EPS. Analysts forecast that Aon plc will post 18.99 earnings per share for the current year.

AON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, August 3rd. AON’s payout ratio is presently 18.08%.

AON 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.