Industrial Alliance Investment Management Inc. Has $703,000 Stock Holdings in Aon plc (NYSE:AON)

Industrial Alliance Investment Management Inc. boosted its stake in shares of Aon plc (NYSE:AON) by 4.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,107 shares of the financial services provider’s stock after buying an additional 89 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in AON were worth $703,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC boosted its position in AON by 1.8% during the fourth quarter. Signaturefd LLC now owns 2,149 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 38 shares during the period. JFS Wealth Advisors LLC raised its stake in AON by 3.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,246 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 38 shares in the last quarter. Proficio Capital Partners LLC raised its stake in AON by 3.9% during the first quarter. Proficio Capital Partners LLC now owns 1,016 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 38 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in AON by 5.5% during the first quarter. Avantax Advisory Services Inc. now owns 729 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 38 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in AON by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,724 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 39 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Up 3.0 %

Shares of AON traded up $9.45 during trading hours on Tuesday, reaching $328.74. The stock had a trading volume of 1,668,945 shares, compared to its average volume of 1,304,820. Aon plc has a 12 month low of $268.06 and a 12 month high of $344.68. The firm has a 50-day simple moving average of $293.12 and a 200 day simple moving average of $302.82. The company has a current ratio of 2.42, a quick ratio of 4.13 and a debt-to-equity ratio of 2.92. The company has a market capitalization of $71.48 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 2.16 and a beta of 0.91.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $2.93 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.15). The company had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.74 billion. AON had a net margin of 18.00% and a return on equity of 252.81%. AON’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted $2.76 earnings per share. Equities research analysts predict that Aon plc will post 15.37 earnings per share for the current fiscal year.

AON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, August 1st. AON’s payout ratio is presently 21.16%.

Insider Buying and Selling at AON

In other news, insider Andy Weitz 8,454 shares of AON stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Lester B. Knight bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the transaction, the director now directly owns 139,000 shares of the company’s stock, valued at approximately $38,448,790. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andy Weitz 8,454 shares of the stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Insiders own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

AON has been the subject of several research analyst reports. Piper Sandler boosted their target price on AON from $312.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday. Wells Fargo & Company increased their target price on shares of AON from $287.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday. Royal Bank of Canada increased their target price on shares of AON from $315.00 to $335.00 and gave the company a “sector perform” rating in a research report on Monday. Citigroup assumed coverage on shares of AON in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $309.00 target price for the company. Finally, Keefe, Bruyette & Woods raised shares of AON from an “underperform” rating to an “outperform” rating and increased their target price for the company from $313.00 to $380.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $330.21.

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.