Aon PLC (AON) Shares Bought by Olstein Capital Management L.P.
Olstein Capital Management L.P. grew its position in shares of Aon PLC (NYSE:AON) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,000 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in AON were worth $8,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of AON by 7.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 21,250,960 shares of the financial services provider’s stock valued at $2,914,992,000 after buying an additional 1,436,583 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of AON by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,079,415 shares of the financial services provider’s stock valued at $853,124,000 after buying an additional 23,060 shares during the period. Mawer Investment Management Ltd. lifted its holdings in shares of AON by 2.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 5,522,249 shares of the financial services provider’s stock valued at $757,487,000 after buying an additional 154,272 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of AON by 2.6% during the 1st quarter. Neuberger Berman Group LLC now owns 4,296,908 shares of the financial services provider’s stock valued at $602,808,000 after buying an additional 108,182 shares during the period. Finally, Boston Partners lifted its holdings in shares of AON by 1.8% during the 2nd quarter. Boston Partners now owns 2,598,538 shares of the financial services provider’s stock valued at $356,441,000 after buying an additional 45,026 shares during the period. 86.08% of the stock is currently owned by hedge funds and other institutional investors.
In other AON news, Director Jeffrey C. Campbell purchased 5,550 shares of the business’s stock in a transaction on Monday, August 6th. The stock was acquired at an average price of $143.84 per share, for a total transaction of $798,312.00. Following the purchase, the director now owns 7,084 shares of the company’s stock, valued at approximately $1,018,962.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.42% of the company’s stock.
AON (NYSE:AON) last issued its quarterly earnings results on Friday, July 27th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.08. AON had a return on equity of 42.17% and a net margin of 7.41%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the business posted $1.45 EPS. AON’s revenue for the quarter was up 9.8% compared to the same quarter last year. analysts forecast that Aon PLC will post 8.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 31st. This represents a $1.60 dividend on an annualized basis and a yield of 1.12%. AON’s payout ratio is presently 24.54%.
AON has been the topic of a number of recent research reports. Wells Fargo & Co set a $143.00 target price on AON and gave the stock a “hold” rating in a report on Friday, May 4th. ValuEngine cut AON from a “buy” rating to a “hold” rating in a report on Friday, May 4th. TheStreet raised AON from a “c” rating to an “a-” rating in a report on Friday, May 4th. Citigroup raised their target price on AON from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Finally, Zacks Investment Research raised AON from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a report on Tuesday, June 5th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $153.78.
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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