Waterfront Wealth Inc. Has $739,000 Position in Aon plc (NYSE:AON)

Waterfront Wealth Inc. boosted its holdings in shares of Aon plc (NYSE:AON) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,540 shares of the financial services provider’s stock after acquiring an additional 83 shares during the period. Waterfront Wealth Inc.’s holdings in AON were worth $739,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its holdings in AON by 106,777.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,817,279 shares of the financial services provider’s stock valued at $845,578,000 after purchasing an additional 2,814,643 shares during the last quarter. Norges Bank bought a new stake in shares of AON in the 4th quarter valued at about $341,922,000. Morgan Stanley raised its position in shares of AON by 38.7% in the 4th quarter. Morgan Stanley now owns 2,223,478 shares of the financial services provider’s stock valued at $667,355,000 after acquiring an additional 620,067 shares during the period. Barclays PLC boosted its stake in AON by 200.5% during the 2nd quarter. Barclays PLC now owns 831,903 shares of the financial services provider’s stock worth $287,171,000 after acquiring an additional 555,078 shares during the last quarter. Finally, Fiera Capital Corp grew its holdings in AON by 410.9% during the third quarter. Fiera Capital Corp now owns 654,446 shares of the financial services provider’s stock valued at $212,184,000 after purchasing an additional 526,353 shares during the period. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AON. Wells Fargo & Company reduced their price target on shares of AON from $304.00 to $295.00 and set an “underweight” rating on the stock in a research report on Thursday, December 21st. The Goldman Sachs Group decreased their target price on AON from $350.00 to $310.00 and set a “neutral” rating for the company in a research note on Tuesday, January 9th. Piper Sandler raised their price target on AON from $306.00 to $326.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Morgan Stanley increased their price objective on shares of AON from $325.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on AON from $318.00 to $353.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $335.36.

AON Price Performance

NYSE AON traded up $5.07 on Thursday, reaching $309.86. The stock had a trading volume of 68,512 shares, compared to its average volume of 988,880. The firm has a fifty day moving average of $317.78 and a two-hundred day moving average of $314.96. Aon plc has a 1-year low of $284.85 and a 1-year high of $347.37. The company has a market cap of $61.45 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.86.

AON (NYSE:AON) last issued its quarterly earnings data on Friday, February 2nd. The financial services provider reported $3.89 earnings per share for the quarter, missing the consensus estimate of $4.07 by ($0.18). AON had a negative return on equity of 1,150.40% and a net margin of 19.17%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the firm earned $3.89 EPS. AON’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that Aon plc will post 15.82 EPS for the current fiscal year.

AON Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.675 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.87%. This is an increase from AON’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, April 30th. AON’s dividend payout ratio is presently 19.71%.

Insider Transactions at AON

In related news, insider Lisa Stevens sold 13,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $315.26, for a total value of $4,098,380.00. Following the completion of the transaction, the insider now owns 10,073 shares of the company’s stock, valued at $3,175,613.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Christa Davies sold 20,618 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $311.40, for a total value of $6,420,445.20. Following the sale, the chief financial officer now directly owns 159,570 shares of the company’s stock, valued at $49,690,098. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa Stevens sold 13,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $315.26, for a total value of $4,098,380.00. Following the transaction, the insider now directly owns 10,073 shares of the company’s stock, valued at approximately $3,175,613.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,532 shares of company stock valued at $23,335,805. 1.15% of the stock is owned by corporate insiders.

About AON

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.