Cinctive Capital Management LP Makes New Investment in Aon plc $AON

Cinctive Capital Management LP bought a new position in Aon plc (NYSE:AON) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,686 shares of the financial services provider’s stock, valued at approximately $12,012,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AON. AE Wealth Management LLC lifted its stake in AON by 24.1% in the 2nd quarter. AE Wealth Management LLC now owns 721 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 140 shares during the last quarter. Vise Technologies Inc. bought a new stake in shares of AON during the second quarter worth $626,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of AON by 7.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 52,960 shares of the financial services provider’s stock worth $18,894,000 after buying an additional 3,503 shares in the last quarter. OmniStar Financial Group Inc. lifted its stake in shares of AON by 8.1% in the 2nd quarter. OmniStar Financial Group Inc. now owns 1,616 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 121 shares during the last quarter. Finally, Sustainable Growth Advisers LP boosted its holdings in shares of AON by 16.0% during the 2nd quarter. Sustainable Growth Advisers LP now owns 1,847,140 shares of the financial services provider’s stock valued at $658,986,000 after acquiring an additional 254,178 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AON. JPMorgan Chase & Co. lowered their target price on AON from $433.00 to $406.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Evercore reissued an “outperform” rating and set a $436.00 price target on shares of AON in a research note on Wednesday, January 7th. Mizuho raised AON from a “neutral” rating to an “outperform” rating and set a $397.00 price objective for the company in a research note on Friday, February 27th. UBS Group reiterated a “neutral” rating and issued a $385.00 price objective on shares of AON in a report on Monday, February 2nd. Finally, Cantor Fitzgerald lifted their target price on shares of AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, AON has a consensus rating of “Moderate Buy” and an average target price of $408.94.

AON Price Performance

AON stock opened at $321.39 on Friday. The stock’s 50 day moving average is $334.50 and its 200 day moving average is $346.42. Aon plc has a one year low of $304.59 and a one year high of $402.49. The firm has a market cap of $68.86 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.70 and a beta of 0.82. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03.

AON (NYSE:AON) last released its earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.75 by $0.10. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.38 billion. AON had a net margin of 21.51% and a return on equity of 45.23%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.42 EPS. As a group, research analysts expect that Aon plc will post 17.21 EPS for the current year.

AON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, February 2nd. AON’s dividend payout ratio (DPR) is currently 17.51%.

Insider Buying and Selling at AON

In other news, General Counsel Darren Zeidel sold 5,040 shares of AON stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $325.79, for a total value of $1,641,981.60. Following the completion of the transaction, the general counsel directly owned 20,254 shares of the company’s stock, valued at approximately $6,598,550.66. This trade represents a 19.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lester B. Knight acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average cost of $319.24 per share, for a total transaction of $1,276,960.00. Following the completion of the purchase, the director directly owned 143,000 shares in the company, valued at $45,651,320. This trade represents a 2.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

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.