AlphaCrest Capital Management LLC Buys Shares of 2,651 Aon plc (NYSE:AON)

Posted by on Mar 8th, 2023

AlphaCrest Capital Management LLC purchased a new position in shares of Aon plc (NYSE:AON – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,651 shares of the financial services provider’s stock, valued at approximately $710,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Western Pacific Wealth Management LP purchased a new stake in shares of AON in the 3rd quarter worth approximately $29,000. Coston McIsaac & Partners purchased a new stake in AON during the second quarter worth $38,000. Eagle Bay Advisors LLC purchased a new position in shares of AON in the 2nd quarter valued at $39,000. Massmutual Trust Co. FSB ADV raised its position in shares of AON by 47.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 158 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 51 shares in the last quarter. Finally, Orion Capital Management LLC bought a new stake in AON during the third quarter valued at about $47,000. 86.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AON news, CFO Christa Davies sold 20,528 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $305.11, for a total value of $6,263,298.08. Following the sale, the chief financial officer now owns 179,571 shares in the company, valued at approximately $54,788,907.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Michael Neller sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $311.59, for a total transaction of $311,590.00. Following the completion of the transaction, the insider now directly owns 1,216 shares of the company’s stock, valued at approximately $378,893.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christa Davies sold 20,528 shares of AON stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $305.11, for a total transaction of $6,263,298.08. Following the completion of the sale, the chief financial officer now directly owns 179,571 shares in the company, valued at approximately $54,788,907.81. The disclosure for this sale can be found here. Insiders have sold a total of 73,389 shares of company stock valued at $22,664,130 over the last ninety days. Company insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AON. Credit Suisse Group started coverage on shares of AON in a research report on Friday, January 13th. They set an “outperform” rating and a $363.00 price target for the company. TheStreet raised shares of AON from a “c+” rating to a “b-” rating in a report on Friday, December 9th. Citigroup increased their price objective on AON from $339.00 to $340.00 and gave the company a “neutral” rating in a report on Wednesday, February 8th. Roth Capital restated a “buy” rating on shares of AON in a research note on Tuesday, February 7th. Finally, Morgan Stanley increased their price target on AON from $250.00 to $255.00 and gave the company an “underweight” rating in a research note on Tuesday, November 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $314.80.

AON Price Performance

Shares of NYSE AON opened at $301.57 on Wednesday. Aon plc has a 52 week low of $246.21 and a 52 week high of $341.98. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 12.27. The firm has a market cap of $61.86 billion, a P/E ratio of 24.88, a P/E/G ratio of 2.01 and a beta of 0.89. The business’s 50 day moving average price is $311.68 and its 200 day moving average price is $296.62.

AON (NYSE:AON – Get Rating) last issued its earnings results on Friday, February 3rd. The financial services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.22. AON had a net margin of 20.75% and a return on equity of 1,165.31%. The firm had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $3.71 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Aon plc will post 14.54 earnings per share for the current year.

AON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 1st were paid a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, January 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.74%. AON’s payout ratio is 18.48%.

AON Company Profile

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Aon Plc operates as a global professional services firm. It provides advice and solutions to clients focused on risk, retirement, and health through the following products and services: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions, and Data and Analytic Services.

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Institutional Ownership by Quarter for AON (NYSE:AON)

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