Ontario Teachers Pension Plan Board Has $362,000 Stake in Aon plc (NYSE:AON)

Posted by Defense World Staff on Sep 18th, 2023

Ontario Teachers Pension Plan Board cut its stake in shares of Aon plc (NYSE:AON – Free Report) by 44.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,148 shares of the financial services provider’s stock after selling 922 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in AON were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AON. BlackRock Inc. boosted its holdings in AON by 1.5% in the first quarter. BlackRock Inc. now owns 13,947,244 shares of the financial services provider’s stock valued at $4,397,426,000 after acquiring an additional 210,313 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AON by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,021,085 shares of the financial services provider’s stock valued at $1,204,600,000 after purchasing an additional 21,190 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of AON by 106,777.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,817,279 shares of the financial services provider’s stock worth $845,578,000 after buying an additional 2,814,643 shares during the period. Neuberger Berman Group LLC raised its stake in AON by 2.7% during the fourth quarter. Neuberger Berman Group LLC now owns 2,656,354 shares of the financial services provider’s stock worth $797,363,000 after buying an additional 70,574 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in AON during the first quarter valued at $721,085,000. Institutional investors own 86.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AON shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $352.00 price objective on shares of AON in a research note on Monday, July 31st. StockNews.com initiated coverage on shares of AON in a research report on Thursday, August 17th. They set a “hold” rating for the company. Piper Sandler dropped their target price on shares of AON from $325.00 to $322.00 and set a “neutral” rating on the stock in a research report on Monday, July 31st. JPMorgan Chase & Co. raised their price target on shares of AON from $322.00 to $351.00 in a report on Thursday, July 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $340.00 price objective on shares of AON in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $341.55.

Check Out Our Latest Stock Analysis on AON

Insiders Place Their Bets

In other AON news, Director Byron Spruell bought 800 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $324.57 per share, for a total transaction of $259,656.00. Following the purchase, the director now directly owns 4,001 shares of the company’s stock, valued at $1,298,604.57. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.15% of the stock is currently owned by insiders.

AON Price Performance

AON stock opened at $336.16 on Monday. The company has a market capitalization of $68.20 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 2.59 and a beta of 0.90. Aon plc has a 52-week low of $266.35 and a 52-week high of $347.37. The business has a 50-day simple moving average of $329.64 and a two-hundred day simple moving average of $323.37. The company has a debt-to-equity ratio of 61.66, a quick ratio of 1.66 and a current ratio of 1.66.

AON (NYSE:AON – Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.07). AON had a negative return on equity of 1,312.86% and a net margin of 20.78%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter last year, the company posted $2.63 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect that Aon plc will post 14.26 EPS for the current fiscal year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Monday, July 31st. AON’s dividend payout ratio (DPR) is presently 19.16%.

About AON

(Free Report)

Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.