CIBC Bancorp USA Inc. Makes New Investment in Aon plc $AON

CIBC Bancorp USA Inc. bought a new stake in shares of Aon plc (NYSE:AON) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 58,181 shares of the financial services provider’s stock, valued at approximately $20,746,000.

Several other hedge funds and other institutional investors have also modified their holdings of AON. Danske Bank A S purchased a new position in shares of AON during the third quarter valued at $42,052,000. Caitong International Asset Management Co. Ltd lifted its stake in AON by 1,014.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 379 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 345 shares in the last quarter. Advisory Services Network LLC boosted its position in AON by 6.1% during the 3rd quarter. Advisory Services Network LLC now owns 900 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 52 shares during the period. Morningstar Investment Management LLC boosted its position in AON by 466.3% during the 3rd quarter. Morningstar Investment Management LLC now owns 18,692 shares of the financial services provider’s stock worth $6,665,000 after acquiring an additional 15,391 shares during the period. Finally, Kestra Private Wealth Services LLC grew its stake in AON by 10.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 1,178 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Trading Down 0.9%

AON stock opened at $318.20 on Thursday. Aon plc has a one year low of $304.59 and a one year high of $402.49. The company’s fifty day moving average price is $332.81 and its two-hundred day moving average price is $345.46. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $68.18 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.70 and a beta of 0.82.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, January 30th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.10. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.42 earnings per share. 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 announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, February 2nd. AON’s payout ratio is 17.51%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research firms have recently issued reports on AON. Keefe, Bruyette & Woods increased their price target on shares of AON from $410.00 to $416.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Bank of America upgraded shares of AON from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $398.00 to $397.00 in a research report on Friday, February 27th. Barclays lifted their target price on shares of AON from $379.00 to $381.00 and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of AON in a research note on Monday. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $408.94.

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.