Aon PLC (NYSE:AON) – Research analysts at Langen Mcalenn lifted their FY2018 earnings per share estimates for shares of AON in a note issued to investors on Monday, October 29th. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will post earnings per share of $8.05 for the year, up from their prior estimate of $8.00. Langen Mcalenn also issued estimates for AON’s Q3 2019 earnings at $1.47 EPS and Q4 2019 earnings at $2.47 EPS.
A number of other research firms also recently weighed in on AON. Credit Suisse Group set a $158.00 target price on AON and gave the company a “hold” rating in a report on Tuesday, October 9th. Citigroup increased their target price on AON from $167.00 to $180.00 and gave the company a “buy” rating in a report on Friday, October 12th. Raymond James raised AON from an “underperform” rating to an “outperform” rating in a report on Tuesday, September 25th. Wells Fargo & Co increased their target price on AON from $143.00 to $150.00 and gave the company a “market perform” rating in a report on Monday. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $164.00 target price on shares of AON in a report on Sunday, July 29th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $156.71.
AON (NYSE:AON) last posted its earnings results on Friday, October 26th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. AON had a return on equity of 43.96% and a net margin of 7.06%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the company earned $1.29 earnings per share. AON’s revenue was up .4% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Wednesday, October 31st. AON’s payout ratio is 24.54%.
In other AON news, CEO Caroline Grace sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $150.00, for a total value of $600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey C. Campbell purchased 5,550 shares of AON stock in a transaction on Monday, August 6th. The stock was bought at an average price of $143.84 per share, with a total value of $798,312.00. Following the transaction, the director now owns 7,084 shares of the company’s stock, valued at $1,018,962.56. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 8,750 shares of company stock valued at $1,327,685. Company insiders own 0.42% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Robecosam AG increased its position in AON by 5.2% in the third quarter. Robecosam AG now owns 45,099 shares of the financial services provider’s stock worth $7,021,000 after buying an additional 2,230 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in AON by 61.6% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 63,351 shares of the financial services provider’s stock worth $9,742,000 after buying an additional 24,149 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in AON by 7.5% in the third quarter. Frontier Capital Management Co. LLC now owns 527,538 shares of the financial services provider’s stock worth $81,125,000 after buying an additional 36,688 shares in the last quarter. Arizona State Retirement System increased its position in AON by 1.8% in the third quarter. Arizona State Retirement System now owns 88,355 shares of the financial services provider’s stock worth $13,587,000 after buying an additional 1,599 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA purchased a new stake in shares of AON during the third quarter worth about $1,153,000. Institutional investors and hedge funds own 83.41% of the company’s stock.
Aon plc provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services worldwide. The company operates through two segments, Risk Solutions and HR Solutions. The Risk Solutions segment offers retail brokerage services, including affinity products, managing general underwriting, placement, captive management services, and data and analytics; risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, transaction liability, cyber liability, workers' compensation, and various healthcare products; and health and benefits consulting services comprising structuring, funding, and administering employee benefit programs.
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