Waterfront Wealth Inc. Boosts Stake in Aon plc (NYSE:AON)

Waterfront Wealth Inc. raised its position in Aon plc (NYSE:AON) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,745 shares of the financial services provider’s stock after purchasing an additional 131 shares during the quarter. Waterfront Wealth Inc.’s holdings in AON were worth $986,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Diamond Hill Capital Management Inc. acquired a new stake in AON in the 3rd quarter valued at $336,375,000. Veritas Asset Management LLP boosted its position in shares of AON by 41.6% in the third quarter. Veritas Asset Management LLP now owns 3,010,557 shares of the financial services provider’s stock worth $1,041,623,000 after buying an additional 883,761 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AON by 334.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,050,537 shares of the financial services provider’s stock valued at $363,475,000 after buying an additional 808,990 shares in the last quarter. Accredited Investors Inc. raised its holdings in shares of AON by 5,694.5% during the 3rd quarter. Accredited Investors Inc. now owns 242,442 shares of the financial services provider’s stock valued at $83,883,000 after buying an additional 238,258 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in AON in the 3rd quarter worth approximately $79,390,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AON shares. Keefe, Bruyette & Woods lifted their price objective on shares of AON from $411.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price target on shares of AON from $379.00 to $394.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Barclays upped their price objective on shares of AON from $394.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler lifted their target price on AON from $372.00 to $384.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Evercore ISI raised AON from an “in-line” rating to an “outperform” rating and increased their price target for the company from $407.00 to $420.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AON has an average rating of “Hold” and an average target price of $386.21.

AON Price Performance

Shares of AON opened at $389.51 on Friday. The company has a current ratio of 1.40, a quick ratio of 2.05 and a debt-to-equity ratio of 2.58. The firm has a market cap of $84.13 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 2.15 and a beta of 0.93. Aon plc has a 52 week low of $268.06 and a 52 week high of $395.65. The stock has a 50 day moving average of $368.55 and a 200-day moving average of $361.55.

AON (NYSE:AON) last released its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.25 by $0.17. AON had a net margin of 16.91% and a return on equity of 70.84%. During the same quarter last year, the business earned $3.89 EPS. As a group, analysts forecast that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Monday, February 3rd. AON’s dividend payout ratio (DPR) is 21.33%.

Insiders Place Their Bets

In other news, insider Lisa Stevens sold 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $387.68, for a total value of $494,292.00. Following the completion of the sale, the insider now directly owns 8,077 shares of the company’s stock, valued at approximately $3,131,291.36. This represents a 13.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mindy F. Simon sold 650 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $394.34, for a total transaction of $256,321.00. Following the completion of the transaction, the chief operating officer now owns 1,816 shares of the company’s stock, valued at $716,121.44. This trade represents a 26.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

AON Company Profile

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.