Sandy Cove Advisors LLC Boosts Stake in Aon plc (NYSE:AON)

Sandy Cove Advisors LLC grew its holdings in shares of Aon plc (NYSE:AON) by 29.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,870 shares of the financial services provider’s stock after buying an additional 422 shares during the period. Sandy Cove Advisors LLC’s holdings in AON were worth $624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AON. BKM Wealth Management LLC bought a new stake in shares of AON during the fourth quarter valued at approximately $25,000. Frazier Financial Advisors LLC bought a new position in shares of AON during the 4th quarter worth $31,000. Rise Advisors LLC purchased a new position in shares of AON during the first quarter valued at $37,000. Bruce G. Allen Investments LLC bought a new stake in shares of AON in the fourth quarter valued at about $40,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in AON during the 4th quarter worth about $43,000. 86.14% of the stock is owned by institutional investors.

AON Stock Performance

AON stock traded up $0.78 during midday trading on Friday, reaching $293.58. The stock had a trading volume of 1,312,306 shares, compared to its average volume of 1,813,326. The firm has a fifty day simple moving average of $289.64 and a two-hundred day simple moving average of $302.59. The stock has a market cap of $63.83 billion, a PE ratio of 23.01, a P/E/G ratio of 1.94 and a beta of 0.91. Aon plc has a 52-week low of $268.06 and a 52-week high of $347.37.

AON (NYSE:AON) last issued its earnings results on Friday, April 26th. The financial services provider reported $5.66 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the prior year, the company earned $5.17 EPS. AON’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that Aon plc will post 15.48 EPS for the current fiscal year.

AON Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on AON. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of AON in a report on Tuesday, June 18th. Morgan Stanley lifted their price target on AON from $325.00 to $327.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $311.00 price objective on shares of AON in a research note on Tuesday, May 28th. Citigroup began coverage on shares of AON in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 target price for the company. Finally, Wells Fargo & Company cut their price objective on shares of AON from $300.00 to $289.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, AON has an average rating of “Hold” and a consensus price target of $321.86.

Insiders Place Their Bets

In other AON news, Director Lester B. Knight purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $276.61 per share, for a total transaction of $2,766,100.00. Following the purchase, the director now directly owns 139,000 shares in the company, valued at $38,448,790. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.15% of the company’s stock.

AON 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.