Gotham Asset Management LLC Increases Stock Holdings in Aon plc $AON

Gotham Asset Management LLC grew its holdings in shares of Aon plc (NYSE:AON) by 138.0% during the third quarter, Holdings Channel reports. The firm owned 82,600 shares of the financial services provider’s stock after purchasing an additional 47,900 shares during the quarter. Gotham Asset Management LLC’s holdings in AON were worth $29,454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. grew its holdings in shares of AON by 100.0% in the third quarter. Westside Investment Management Inc. now owns 70 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in AON during the 3rd quarter worth approximately $25,000. Heartwood Wealth Advisors LLC purchased a new position in AON in the 3rd quarter valued at approximately $29,000. Salomon & Ludwin LLC acquired a new position in shares of AON in the third quarter worth $31,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of AON during the second quarter worth $37,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

AON has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their target price on AON from $393.00 to $412.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Bank of America raised AON from a “neutral” rating to an “outperform” rating and reduced their price target for the company from $398.00 to $397.00 in a research report on Friday, February 27th. Citigroup boosted their price objective on AON from $402.00 to $412.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. The Goldman Sachs Group set a $395.00 target price on shares of AON in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of AON in a research note on Monday, December 29th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $408.94.

AON Stock Up 1.6%

Shares of NYSE AON opened at $326.65 on Tuesday. The business has a 50-day moving average of $334.01 and a two-hundred day moving average of $345.98. The company has a market capitalization of $69.99 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.70 and a beta of 0.82. Aon plc has a 1 year low of $304.59 and a 1 year high of $402.49. 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 issued its earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.75 by $0.10. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.38 billion. AON had a return on equity of 45.23% and a net margin of 21.51%.The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $4.42 EPS. On average, analysts forecast that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Announces Dividend

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

Insider Activity at AON

In related news, Director Lester B. Knight acquired 4,000 shares of AON stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average price of $319.24 per share, for a total transaction of $1,276,960.00. Following the transaction, the director owned 143,000 shares of the company’s stock, valued at $45,651,320. This represents a 2.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Darren Zeidel sold 5,040 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $325.79, for a total transaction of $1,641,981.60. Following the completion of the transaction, the general counsel directly owned 20,254 shares in the company, valued at $6,598,550.66. This trade represents a 19.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

AON Company 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.