Sumitomo Mitsui DS Asset Management Company Ltd Has $9.93 Million Stake in Aon plc $AON

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Aon plc (NYSE:AON) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,853 shares of the financial services provider’s stock after purchasing an additional 1,713 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AON were worth $9,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of AON in the second quarter valued at approximately $754,671,000. Vanguard Group Inc. raised its holdings in AON by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,289,743 shares of the financial services provider’s stock valued at $7,238,569,000 after acquiring an additional 511,292 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of AON by 15.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,507,656 shares of the financial services provider’s stock valued at $1,251,391,000 after acquiring an additional 473,594 shares during the period. Altrinsic Global Advisors LLC grew its holdings in shares of AON by 193.2% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 692,633 shares of the financial services provider’s stock worth $247,104,000 after purchasing an additional 456,399 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of AON by 92.9% in the third quarter. Vontobel Holding Ltd. now owns 889,332 shares of the financial services provider’s stock worth $317,118,000 after purchasing an additional 428,361 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Down 0.3%

Shares of NYSE:AON opened at $350.95 on Friday. Aon plc has a 52-week low of $323.73 and a 52-week high of $412.97. The company has a market capitalization of $75.43 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 1.78 and a beta of 0.84. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.35 and a current ratio of 1.35. The company has a fifty day moving average of $349.43 and a 200-day moving average of $355.23.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. AON had a return on equity of 48.88% and a net margin of 15.96%.The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the company posted $2.72 EPS. AON’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Aon plc will post 17.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AON. The Goldman Sachs Group set a $395.00 price objective on shares of AON in a research note on Wednesday. Morgan Stanley set a $400.00 price target on shares of AON in a report on Tuesday, December 16th. TD Cowen decreased their price objective on shares of AON from $419.00 to $416.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Citigroup upgraded shares of AON from a “neutral” rating to a “buy” rating and set a $402.00 price objective for the company in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. reduced their target price on AON from $433.00 to $406.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, AON presently has a consensus rating of “Moderate Buy” and a consensus target price of $411.35.

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.