CIBC Asset Management Inc grew its stake in Aon PLC (NYSE:AON) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,651 shares of the financial services provider’s stock after acquiring an additional 9,654 shares during the quarter. CIBC Asset Management Inc’s holdings in AON were worth $18,034,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in shares of AON in the 4th quarter valued at approximately $25,000. Berman Capital Advisors LLC acquired a new position in shares of AON in the 4th quarter valued at approximately $25,000. Somerset Trust Co grew its position in shares of AON by 171.8% in the 1st quarter. Somerset Trust Co now owns 212 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 134 shares during the period. Sontag Advisory LLC acquired a new position in shares of AON in the 4th quarter valued at approximately $31,000. Finally, YorkBridge Wealth Partners LLC grew its position in shares of AON by 1,875.0% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 316 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 300 shares during the period. 84.75% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on AON shares. Wells Fargo & Co reiterated a “hold” rating on shares of AON in a research report on Friday, April 5th. Compass Point assumed coverage on AON in a research report on Tuesday, January 15th. They set a “buy” rating and a $195.00 price target for the company. ValuEngine downgraded AON from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. MKM Partners raised AON from a “neutral” rating to a “buy” rating and upped their price target for the stock from $155.00 to $200.00 in a research report on Monday, February 4th. Finally, William Blair reaffirmed a “market perform” rating on shares of AON in a research report on Friday, February 1st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $171.60.
AON (NYSE:AON) last released its quarterly earnings results on Friday, April 26th. The financial services provider reported $3.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.31. AON had a return on equity of 46.15% and a net margin of 11.08%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the firm posted $2.97 EPS. The business’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Aon PLC will post 9.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.76 dividend on an annualized basis and a yield of 1.00%. This is an increase from AON’s previous quarterly dividend of $0.40. AON’s dividend payout ratio is 21.57%.
In other news, insider Michael Neller sold 1,250 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $171.66, for a total value of $214,575.00. Following the completion of the sale, the insider now owns 5,188 shares of the company’s stock, valued at approximately $890,572.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christa Davies sold 58,152 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $170.90, for a total value of $9,938,176.80. Following the completion of the sale, the chief financial officer now directly owns 288,016 shares of the company’s stock, valued at approximately $49,221,934.40. The disclosure for this sale can be found here. In the last three months, insiders sold 87,170 shares of company stock valued at $15,022,428. 0.42% of the stock is currently owned by insiders.
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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.
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