Aon PLC’s (NYSE:AON) Buy Rating Reiterated at Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of Aon PLC (NYSE:AON) in a research report sent to investors on Monday morning. Jefferies Group LLC currently has a $162.00 price objective on the financial services provider’s stock, up from their prior price objective of $146.00.

Several other research analysts have also issued reports on AON. Citigroup Inc. raised their price target on Aon PLC from $130.00 to $136.00 and gave the stock a buy rating in a research report on Friday, April 7th. Zacks Investment Research lowered Aon PLC from a hold rating to a sell rating in a research report on Wednesday, April 12th. Wells Fargo & Company restated a hold rating on shares of Aon PLC in a research report on Sunday, April 16th. Credit Suisse Group restated a sell rating and issued a $122.00 price target on shares of Aon PLC in a research report on Wednesday, May 10th. Finally, UBS AG restated a neutral rating and issued a $133.00 price target (up from $125.00) on shares of Aon PLC in a research report on Friday, May 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $133.58.

Shares of Aon PLC (NYSE AON) opened at 138.95 on Monday. Aon PLC has a 12-month low of $105.35 and a 12-month high of $141.30. The stock has a market capitalization of $36.41 billion, a P/E ratio of 27.45 and a beta of 1.03. The firm’s 50-day moving average price is $135.13 and its 200 day moving average price is $123.08.

Aon PLC (NYSE:AON) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.17. Aon PLC had a return on equity of 32.34% and a net margin of 12.23%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $1.35 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. Analysts predict that Aon PLC will post $6.53 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, July 28th. Aon PLC’s payout ratio is presently 28.18%.

In related news, EVP Peter M. Lieb sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $130.40, for a total transaction of $260,800.00. Following the sale, the executive vice president now owns 20,216 shares of the company’s stock, valued at approximately $2,636,166.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laurel G. Meissner sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $126.19, for a total value of $504,760.00. Following the sale, the senior vice president now directly owns 16,314 shares in the company, valued at approximately $2,058,663.66. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in shares of Aon PLC by 181.6% in the first quarter. Canada Pension Plan Investment Board now owns 201,764 shares of the financial services provider’s stock valued at $23,947,000 after buying an additional 130,109 shares during the last quarter. Ronna Sue Cohen increased its stake in shares of Aon PLC by 0.3% in the second quarter. Ronna Sue Cohen now owns 6,205 shares of the financial services provider’s stock valued at $825,000 after buying an additional 18 shares during the last quarter. Atria Investments LLC increased its stake in shares of Aon PLC by 2.4% in the second quarter. Atria Investments LLC now owns 8,841 shares of the financial services provider’s stock valued at $1,175,000 after buying an additional 208 shares during the last quarter. Cleararc Capital Inc. increased its stake in shares of Aon PLC by 0.9% in the first quarter. Cleararc Capital Inc. now owns 6,444 shares of the financial services provider’s stock valued at $765,000 after buying an additional 56 shares during the last quarter. Finally, Greenwood Gearhart Inc. increased its stake in shares of Aon PLC by 7.4% in the first quarter. Greenwood Gearhart Inc. now owns 39,961 shares of the financial services provider’s stock valued at $4,743,000 after buying an additional 2,760 shares during the last quarter. 86.35% of the stock is currently owned by institutional investors and hedge funds.

About Aon PLC

Aon plc (Aon) is a global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, delivering distinctive client value via risk management and workforce productivity solutions. The Company operates in two segments: Risk Solutions and Human Resource (HR) Solutions.

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