Gulf International Bank UK Ltd Purchases 89 Shares of Aon plc (NYSE:AON)

Gulf International Bank UK Ltd grew its position in Aon plc (NYSE:AON) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,861 shares of the financial services provider’s stock after purchasing an additional 89 shares during the period. Gulf International Bank UK Ltd’s holdings in AON were worth $5,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital International Investors boosted its position in AON by 0.4% during the 4th quarter. Capital International Investors now owns 5,524,730 shares of the financial services provider’s stock worth $1,607,519,000 after acquiring an additional 22,346 shares during the last quarter. Lazard Asset Management LLC grew its position in AON by 1.1% in the third quarter. Lazard Asset Management LLC now owns 4,479,652 shares of the financial services provider’s stock valued at $1,452,390,000 after purchasing an additional 50,290 shares in the last quarter. Mackenzie Financial Corp increased its stake in AON by 8.3% in the 4th quarter. Mackenzie Financial Corp now owns 2,331,132 shares of the financial services provider’s stock valued at $678,406,000 after buying an additional 179,238 shares during the last quarter. Northern Trust Corp lifted its position in AON by 0.8% during the 3rd quarter. Northern Trust Corp now owns 2,244,909 shares of the financial services provider’s stock worth $727,844,000 after buying an additional 18,500 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of AON by 14.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,472,309 shares of the financial services provider’s stock valued at $428,280,000 after acquiring an additional 182,688 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

AON Stock Performance

Shares of AON stock opened at $297.46 on Friday. Aon plc has a 52-week low of $268.06 and a 52-week high of $347.37. The stock has a market cap of $64.68 billion, a PE ratio of 23.31, a PEG ratio of 1.96 and a beta of 0.91. The firm has a 50-day moving average of $290.97 and a 200-day moving average of $303.72.

AON (NYSE:AON) last announced its earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing the consensus estimate of $5.86 by ($0.20). The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.14 billion. AON had a negative return on equity of 1,083.00% and a net margin of 19.04%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.17 earnings per share. Equities research analysts predict that Aon plc will post 15.48 earnings per share for the current fiscal year.

AON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.675 per share. This is a positive change from AON’s previous quarterly dividend of $0.62. This represents a $2.70 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Tuesday, April 30th. AON’s dividend payout ratio is 21.16%.

Insider Transactions at AON

In other news, Director Lester B. Knight acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the completion of the transaction, the director now directly owns 139,000 shares of the company’s stock, valued at approximately $38,448,790. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler reduced their price target on AON from $326.00 to $312.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Citigroup began coverage on shares of AON in a report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 target price on the stock. Bank of America cut shares of AON from a “neutral” rating to an “underperform” rating and cut their price target for the company from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Morgan Stanley lifted their price target on AON from $325.00 to $327.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of AON in a research note on Tuesday, June 18th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $321.86.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.