Cumberland Partners Ltd Has $11.27 Million Stock Position in Aon plc (NYSE:AON)

Cumberland Partners Ltd increased its position in shares of Aon plc (NYSE:AON) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,376 shares of the financial services provider’s stock after purchasing an additional 705 shares during the quarter. AON makes up approximately 1.0% of Cumberland Partners Ltd’s holdings, making the stock its 28th biggest holding. Cumberland Partners Ltd’s holdings in AON were worth $11,272,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Integrated Advisors Network LLC boosted its stake in shares of AON by 5.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 665 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 32 shares during the last quarter. Capital Planning Advisors LLC raised its holdings in AON by 0.3% during the 3rd quarter. Capital Planning Advisors LLC now owns 11,793 shares of the financial services provider’s stock worth $3,824,000 after buying an additional 35 shares during the period. Valley Wealth Managers Inc. raised its holdings in AON by 4.9% during the 3rd quarter. Valley Wealth Managers Inc. now owns 777 shares of the financial services provider’s stock worth $252,000 after buying an additional 36 shares during the period. Lincoln National Corp raised its holdings in AON by 0.7% during the 3rd quarter. Lincoln National Corp now owns 5,446 shares of the financial services provider’s stock worth $1,766,000 after buying an additional 37 shares during the period. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of AON by 2.2% in the third quarter. Atria Wealth Solutions Inc. now owns 1,727 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Price Performance

AON stock traded up $0.84 during midday trading on Tuesday, reaching $311.86. The company had a trading volume of 612,285 shares, compared to its average volume of 988,758. The company has a market capitalization of $61.91 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.88 and a beta of 0.86. The stock has a 50 day moving average price of $317.78 and a 200-day moving average price of $314.53. Aon plc has a 1-year low of $284.85 and a 1-year high of $347.37.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, February 2nd. The financial services provider reported $3.89 EPS for the quarter, missing analysts’ consensus estimates of $4.07 by ($0.18). The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.36 billion. AON had a net margin of 19.17% and a negative return on equity of 1,150.40%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $3.89 EPS. As a group, research analysts anticipate that Aon plc will post 15.82 earnings per share for the current year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.675 per share. This is an increase from AON’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $2.70 annualized dividend and a yield of 0.87%. AON’s payout ratio is presently 19.71%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen assumed coverage on shares of AON in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $390.00 target price for the company. Keefe, Bruyette & Woods raised their target price on shares of AON from $294.00 to $312.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Piper Sandler lifted their price objective on shares of AON from $306.00 to $326.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. boosted their target price on shares of AON from $318.00 to $353.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada reduced their target price on shares of AON from $342.00 to $325.00 and set a “sector perform” rating for the company in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $334.69.

Insiders Place Their Bets

In other AON news, Director Lester B. Knight bought 50,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was purchased at an average price of $301.97 per share, with a total value of $15,098,500.00. Following the completion of the purchase, the director now owns 134,000 shares in the company, valued at $40,463,980. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Lester B. Knight bought 50,000 shares of AON stock in a transaction that occurred on Wednesday, February 7th. The shares were acquired at an average cost of $301.97 per share, for a total transaction of $15,098,500.00. Following the completion of the acquisition, the director now directly owns 134,000 shares of the company’s stock, valued at approximately $40,463,980. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christa Davies sold 20,618 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the transaction, the chief financial officer now owns 159,570 shares in the company, valued at $49,690,098. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,532 shares of company stock valued at $23,335,805. 1.15% of the stock is currently owned by corporate insiders.

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.