Parkside Financial Bank & Trust Boosts Stock Holdings in Aon plc $AON

Parkside Financial Bank & Trust lifted its holdings in shares of Aon plc (NYSE:AON) by 38.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,283 shares of the financial services provider’s stock after buying an additional 1,757 shares during the quarter. Parkside Financial Bank & Trust’s holdings in AON were worth $2,084,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AON. Corient Private Wealth LP lifted its position in shares of AON by 80.0% during the second quarter. Corient Private Wealth LP now owns 73,158 shares of the financial services provider’s stock worth $24,266,000 after acquiring an additional 32,505 shares in the last quarter. Groupe la Francaise purchased a new position in shares of AON in the second quarter valued at $108,000. CYBER HORNET ETFs LLC raised its stake in shares of AON by 4,903.4% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 29,470 shares of the financial services provider’s stock valued at $9,775,000 after purchasing an additional 28,881 shares during the period. California State Teachers Retirement System lifted its holdings in AON by 32,835.5% during the 2nd quarter. California State Teachers Retirement System now owns 101,761,829 shares of the financial services provider’s stock worth $33,753,381,000 after purchasing an additional 101,452,856 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in AON in the 2nd quarter worth about $220,000. 86.14% of the stock is owned by institutional investors.

Insider Buying and Selling at AON

In other news, General Counsel Darren Zeidel sold 1,900 shares of AON stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $377.76, for a total transaction of $717,744.00. Following the completion of the sale, the general counsel directly owned 11,504 shares of the company’s stock, valued at approximately $4,345,751.04. The trade was a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lester Knight bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was bought at an average price of $327.48 per share, with a total value of $6,549,600.00. Following the completion of the transaction, the director directly owned 163,000 shares of the company’s stock, valued at $53,379,240. This represents a 13.99% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 4,450 shares of company stock worth $1,659,242. Corporate insiders own 1.00% of the company’s stock.

AON Stock Performance

Shares of AON opened at $322.57 on Tuesday. Aon plc has a 12-month low of $304.59 and a 12-month high of $382.34. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34. The company has a market cap of $68.42 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.63 and a beta of 0.66. The stock has a 50-day moving average price of $353.49 and a 200-day moving average price of $334.22.

AON (NYSE:AON) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.01. AON had a net margin of 22.27% and a return on equity of 42.13%. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the business earned $3.49 earnings per share. AON’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Aon plc will post 18.99 earnings per share for the current fiscal year.

AON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. AON’s dividend payout ratio is presently 18.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AON shares. Citigroup upped their price target on AON from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wells Fargo & Company cut their price objective on shares of AON from $419.00 to $383.00 and set an “overweight” rating for the company in a research report on Tuesday, September 1st. UBS Group reaffirmed a “neutral” rating on shares of AON in a research note on Monday, August 31st. BMO Capital Markets decreased their target price on shares of AON from $375.00 to $360.00 and set a “market perform” rating on the stock in a report on Tuesday, September 1st. Finally, Piper Sandler cut their price target on shares of AON from $391.00 to $349.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $399.12.

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.