Aon PLC (AON) Holdings Lifted by Raymond James & Associates
Raymond James & Associates raised its holdings in shares of Aon PLC (NYSE:AON) by 15.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 308,285 shares of the financial services provider’s stock after purchasing an additional 40,791 shares during the quarter. Raymond James & Associates’ holdings in AON were worth $52,624,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in AON. Gofen & Glossberg LLC IL boosted its position in shares of AON by 1.3% during the fourth quarter. Gofen & Glossberg LLC IL now owns 8,017 shares of the financial services provider’s stock valued at $1,165,000 after buying an additional 100 shares during the period. Virtu Financial LLC boosted its position in shares of AON by 73.1% during the fourth quarter. Virtu Financial LLC now owns 8,942 shares of the financial services provider’s stock valued at $1,300,000 after buying an additional 3,776 shares during the period. Legacy Financial Advisors Inc. boosted its position in shares of AON by 65.0% during the fourth quarter. Legacy Financial Advisors Inc. now owns 391 shares of the financial services provider’s stock valued at $57,000 after buying an additional 154 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of AON by 0.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 72,854 shares of the financial services provider’s stock valued at $10,590,000 after buying an additional 505 shares during the period. Finally, Advisors Capital Management LLC boosted its position in shares of AON by 3.9% during the fourth quarter. Advisors Capital Management LLC now owns 2,036 shares of the financial services provider’s stock valued at $296,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 84.63% of the company’s stock.
Shares of AON stock traded up $3.36 on Thursday, hitting $181.41. 72,545 shares of the company traded hands, compared to its average volume of 1,057,597. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.09 and a current ratio of 2.09. Aon PLC has a 52 week low of $134.82 and a 52 week high of $182.60. The company has a market capitalization of $42.78 billion, a PE ratio of 22.23, a P/E/G ratio of 1.71 and a beta of 0.94.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.44 per share. This is a positive change from AON’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Tuesday, April 30th. AON’s payout ratio is presently 21.57%.
In related news, CFO Christa Davies sold 58,152 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $170.90, for a total value of $9,938,176.80. Following the completion of the transaction, the chief financial officer now directly owns 288,016 shares in the company, valued at approximately $49,221,934.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Andersen sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.50, for a total value of $1,338,750.00. Following the completion of the transaction, the insider now owns 80,941 shares of the company’s stock, valued at $14,447,968.50. The disclosure for this sale can be found here. Insiders have sold a total of 87,170 shares of company stock valued at $15,022,428 over the last 90 days. Corporate insiders own 0.92% of the company’s stock.
Several analysts have recently weighed in on the stock. Wells Fargo & Co reaffirmed a “hold” rating on shares of AON in a research note on Friday, April 5th. ValuEngine downgraded shares of AON from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. MKM Partners raised shares of AON from a “neutral” rating to a “buy” rating and lifted their price target for the company from $155.00 to $200.00 in a research note on Monday, February 4th. William Blair reaffirmed a “market perform” rating on shares of AON in a research note on Friday, February 1st. Finally, Morgan Stanley lifted their price target on shares of AON from $169.00 to $182.00 and gave the company an “equal weight” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $173.10.
AON Company Profile
Aon plc, a professional services firm, provides advisory and solutions based on risk, retirement, and health to clients. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
Further Reading: Gross Domestic Product (GDP)
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