CIBC Asset Management Inc Raises Holdings in Aon plc (NYSE:AON)

CIBC Asset Management Inc raised its holdings in shares of Aon plc (NYSE:AON) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,201 shares of the financial services provider’s stock after buying an additional 2,045 shares during the quarter. CIBC Asset Management Inc owned about 0.09% of AON worth $67,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AON. Diamond Hill Capital Management Inc. purchased a new position in AON in the 3rd quarter worth approximately $336,375,000. State Street Corp boosted its stake in AON by 0.4% during the third quarter. State Street Corp now owns 8,844,121 shares of the financial services provider’s stock worth $3,059,977,000 after buying an additional 32,417 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of AON by 13.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 165,741 shares of the financial services provider’s stock worth $57,345,000 after acquiring an additional 20,084 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of AON by 5.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,533 shares of the financial services provider’s stock worth $9,530,000 after acquiring an additional 1,451 shares during the period. Finally, Retireful LLC purchased a new stake in shares of AON in the third quarter valued at about $759,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AON

In other news, insider Lisa Stevens sold 1,275 shares of AON stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $387.68, for a total transaction of $494,292.00. Following the sale, the insider now owns 8,077 shares in the company, valued at approximately $3,131,291.36. The trade was a 13.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mindy F. Simon sold 650 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $394.34, for a total value of $256,321.00. Following the completion of the sale, the chief operating officer now directly owns 1,816 shares of the company’s stock, valued at approximately $716,121.44. This trade represents a 26.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

AON Price Performance

AON stock opened at $387.22 on Monday. The business’s 50-day moving average is $365.76 and its two-hundred day moving average is $359.79. The firm has a market capitalization of $83.74 billion, a P/E ratio of 30.59, a P/E/G ratio of 2.09 and a beta of 0.93. Aon plc has a 1 year low of $268.06 and a 1 year high of $395.33. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.40 and a quick ratio of 2.05.

AON (NYSE:AON) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $4.25 by $0.17. AON had a net margin of 16.91% and a return on equity of 70.84%. During the same period last year, the business posted $3.89 EPS. Analysts anticipate that Aon plc will post 17.24 earnings per share for the current fiscal year.

AON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.675 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.70%. AON’s payout ratio is currently 21.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AON. Barclays increased their price target on shares of AON from $394.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada raised their target price on AON from $390.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on AON from $410.00 to $445.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Evercore ISI raised shares of AON from an “in-line” rating to an “outperform” rating and upped their target price for the company from $407.00 to $420.00 in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of AON from $411.00 to $414.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $386.21.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.