Aon plc $AON Stake Boosted by Howard Capital Management LLC

Howard Capital Management LLC grew its position in shares of Aon plc (NYSE:AON) by 1,197.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 14,915 shares of the financial services provider’s stock after acquiring an additional 13,765 shares during the period. Howard Capital Management LLC’s holdings in AON were worth $4,128,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AON. CYBER HORNET ETFs LLC boosted its stake in shares of AON by 4,903.4% in the second quarter. CYBER HORNET ETFs LLC now owns 29,470 shares of the financial services provider’s stock worth $9,775,000 after acquiring an additional 28,881 shares during the period. The Manufacturers Life Insurance Company grew its stake in AON by 136.1% during the first quarter. The Manufacturers Life Insurance Company now owns 547,850 shares of the financial services provider’s stock valued at $176,835,000 after acquiring an additional 315,817 shares in the last quarter. National Pension Service grew its stake in AON by 2.0% during the second quarter. National Pension Service now owns 484,892 shares of the financial services provider’s stock valued at $160,834,000 after acquiring an additional 9,349 shares in the last quarter. Wellington Management Group LLP lifted its stake in AON by 16.4% in the 2nd quarter. Wellington Management Group LLP now owns 106,370 shares of the financial services provider’s stock worth $35,282,000 after purchasing an additional 14,996 shares in the last quarter. Finally, NEOS Investment Management LLC lifted its stake in AON by 12.8% in the 2nd quarter. NEOS Investment Management LLC now owns 34,465 shares of the financial services provider’s stock worth $11,432,000 after purchasing an additional 3,922 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

AON has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on AON from $412.00 to $362.00 and set an “overweight” rating for the company in a research report on Thursday, October 1st. Barclays decreased their target price on AON from $382.00 to $317.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. The Goldman Sachs Group increased their price target on AON from $375.00 to $401.00 and gave the company a “buy” rating in a research note on Friday, July 31st. BMO Capital Markets cut their price target on AON from $360.00 to $286.00 and set a “market perform” rating for the company in a report on Thursday, October 1st. Finally, Keefe, Bruyette & Woods reduced their price objective on AON from $417.00 to $342.00 and set an “outperform” rating on the stock in a research note on Monday, October 12th. Twelve investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $367.59.

AON Trading Up 1.9%

Shares of AON stock traded up $5.48 during trading on Friday, hitting $292.28. The stock had a trading volume of 1,840,129 shares, compared to its average volume of 1,945,715. The firm’s fifty day simple moving average is $310.87 and its 200-day simple moving average is $326.09. The stock has a market cap of $62.00 billion, a PE ratio of 16.11, a PEG ratio of 1.50 and a beta of 0.70. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54. Aon plc has a 12 month low of $266.33 and a 12 month high of $382.34.

AON (NYSE:AON) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $3.81 EPS for the quarter, beating 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 the consensus estimate of $4.28 billion. During the same period in the prior year, the firm posted $3.49 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Aon plc will post 18.74 EPS for the current fiscal year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 2nd. AON’s payout ratio is 18.08%.

Key AON News

Here are the key news stories impacting AON this week:

• Positive Sentiment: Aon secured the sole-broker role for Zurich’s marine and energy excess-of-loss reinsurance account, a business win that could support brokerage revenue and reinforce Aon’s position in specialty risk markets. Aon wins sole broker position on Zurich marine and energy XoL account
• Positive Sentiment: Aon and the European Bank for Reconstruction and Development expanded support for Ukraine war-risk reinsurance. The initiative could create additional specialty-risk opportunities and highlights Aon’s role in rebuilding insurance capacity in Ukraine. Aon, EBRD expand Ukraine war risk reinsurance
• Positive Sentiment: Aon promoted Chris Rafferty to chief integration officer for its Investment Management and Outsourcing business, while also appointing a Chicago leader. The moves may support integration and execution, although they are not immediate earnings catalysts. Aon promotes Chris Rafferty
• Neutral Sentiment: Aon appointed Leonora Siccardi as global chief execution officer for Risk Capital and Human Capital, effective October 14, adding a senior leadership change without clear near-term financial implications. Aon appoints Leonora Siccardi
• Neutral Sentiment: Preview coverage ahead of Aon’s next quarterly report focuses on expectations for results. Investors will likely watch organic growth, margins, retention and guidance following the company’s prior quarter of modest revenue growth. What to expect from Aon’s next quarterly earnings report
• Negative Sentiment: Morgan Stanley reduced its AON price target to $350, following Cantor Fitzgerald’s cut to $400 from $433. Although both targets remain above the current share level, the reductions signal more cautious expectations for valuation or growth. Morgan Stanley cuts Aon price target

Insider Activity

In other news, Director Lester B. Knight bought 20,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was acquired at an average cost of $327.48 per share, with a total value of $6,549,600.00. Following the transaction, the director directly owned 163,000 shares in the company, valued at approximately $53,379,240. This trade represents a 13.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Darren Zeidel sold 1,900 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 $4,345,751.04. The trade was a 14.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by insiders.

AON Profile

Aon plc is a global professional services firm that helps organizations manage risk, make better decisions and improve performance. Its services are organized around risk capital and human capital, combining advisory expertise, data, analytics and insurance-related solutions.

The company provides commercial risk brokerage and consulting, reinsurance brokerage, retirement and investment advisory services, health benefits consulting, talent and compensation consulting, and related technology and data products.