Sumitomo Life Insurance Co. Increases Stake in Aon PLC (NYSE:AON)

Sumitomo Life Insurance Co. increased its position in Aon PLC (NYSE:AON) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,117 shares of the financial services provider’s stock after buying an additional 763 shares during the period. Sumitomo Life Insurance Co.’s holdings in Aon PLC were worth $2,409,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FNY Partners Fund LP bought a new stake in Aon PLC during the first quarter worth about $106,000. Capital Investment Advisors LLC bought a new stake in Aon PLC during the second quarter worth about $220,000. Armstrong Henry H Associates Inc. acquired a new position in Aon PLC during the second quarter worth $220,000. Assetmark Inc. increased its position in Aon PLC by 191.4% in the first quarter. Assetmark Inc. now owns 2,305 shares of the financial services provider’s stock worth $274,000 after buying an additional 1,514 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new position in Aon PLC during the second quarter worth $350,000. Institutional investors own 85.91% of the company’s stock.

Shares of Aon PLC (NYSE:AON) opened at 136.70 on Friday. The stock’s 50 day moving average is $137.26 and its 200 day moving average is $125.89. The firm has a market capitalization of $34.77 billion, a price-to-earnings ratio of 19.97 and a beta of 1.03. Aon PLC has a 12 month low of $107.19 and a 12 month high of $141.45.

Aon PLC (NYSE:AON) last announced its quarterly earnings results on Friday, August 4th. The financial services provider reported $1.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.45. Aon PLC had a return on equity of 32.62% and a net margin of 17.28%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that Aon PLC will post $6.50 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, July 28th. Aon PLC’s dividend payout ratio is presently 20.48%.

A number of research firms have recently weighed in on AON. Jefferies Group LLC restated a “buy” rating and set a $162.00 price target (up previously from $146.00) on shares of Aon PLC in a report on Monday, July 24th. Wells Fargo & Company restated a “hold” rating on shares of Aon PLC in a report on Friday, August 4th. Royal Bank Of Canada restated a “hold” rating and set a $143.00 price target on shares of Aon PLC in a report on Sunday, August 6th. Citigroup Inc. raised their price target on shares of Aon PLC from $155.00 to $159.00 and gave the company a “buy” rating in a report on Monday, August 7th. Finally, Deutsche Bank AG lifted their target price on shares of Aon PLC from $113.00 to $123.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $139.00.

In other news, EVP Peter M. Lieb sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 20,216 shares in the company, valued at $2,636,166.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

Aon PLC Company Profile

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.