Cornerstone Wealth Group LLC Acquires 110 Shares of Aon plc (NYSE:AON)

Cornerstone Wealth Group LLC raised its holdings in shares of Aon plc (NYSE:AON) by 15.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 826 shares of the financial services provider’s stock after purchasing an additional 110 shares during the period. Cornerstone Wealth Group LLC’s holdings in AON were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. WoodTrust Financial Corp grew its holdings in shares of AON by 2.5% during the first quarter. WoodTrust Financial Corp now owns 5,288 shares of the financial services provider’s stock valued at $1,765,000 after buying an additional 128 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of AON by 8.6% during the first quarter. Kathmere Capital Management LLC now owns 2,187 shares of the financial services provider’s stock valued at $730,000 after buying an additional 173 shares during the last quarter. Sendero Wealth Management LLC grew its holdings in shares of AON by 6.0% during the first quarter. Sendero Wealth Management LLC now owns 3,057 shares of the financial services provider’s stock valued at $1,020,000 after buying an additional 173 shares during the last quarter. Artemis Investment Management LLP boosted its holdings in AON by 9.2% in the first quarter. Artemis Investment Management LLP now owns 168,901 shares of the financial services provider’s stock worth $56,349,000 after purchasing an additional 14,292 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in AON by 6.2% in the first quarter. 180 Wealth Advisors LLC now owns 910 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Price Performance

NYSE AON traded up $0.78 during trading on Friday, reaching $293.58. 1,312,306 shares of the company’s stock traded hands, compared to its average volume of 1,813,326. Aon plc has a 12-month low of $268.06 and a 12-month high of $347.37. The firm has a market cap of $63.83 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The company’s 50 day simple moving average is $289.64 and its two-hundred day simple moving average is $302.59.

AON (NYSE:AON) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing the consensus estimate of $5.86 by ($0.20). AON had a net margin of 19.04% and a negative return on equity of 1,083.00%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the firm posted $5.17 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts expect that Aon plc will post 15.48 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.675 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $2.70 annualized dividend and a dividend yield of 0.92%. This is a positive change from AON’s previous quarterly dividend of $0.62. AON’s payout ratio is currently 21.16%.

Insider Activity

In other news, Director Lester B. Knight acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $276.61 per share, with a total value of $2,766,100.00. Following the transaction, the director now directly owns 139,000 shares in the company, valued at $38,448,790. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AON. Keefe, Bruyette & Woods raised their target price on shares of AON from $294.00 to $312.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their price target on shares of AON from $318.00 to $353.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Bank of America downgraded shares of AON from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $345.00 to $306.00 in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $311.00 price objective on shares of AON in a research report on Tuesday, May 28th. Finally, Morgan Stanley raised their price objective on shares of AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $321.86.

AON Company Profile

Aon plc, a professional services firm, provides a range of risk and human capital solutions 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.