AON - Aon plc
| Previous Close | 165.70 |
| Open | 160.79 |
| Bid | 168.59 x 800 |
| Ask | 176.10 x 800 |
| Day's Range | 158.23 - 171.52 |
| 52 Week Range | 143.93 - 238.19 |
| Volume | 1,924,989 |
| Avg. Volume | 1,561,977 |
| Market Cap | 38.264B |
| Beta (5Y Monthly) | 0.76 |
| PE Ratio (TTM) | 25.98 |
| EPS (TTM) | 6.37 |
| Earnings Date | Apr 23, 2020 - Apr 27, 2020 |
| Forward Dividend & Yield | 1.76 (1.06%) |
| Ex-Dividend Date | Jan 30, 2020 |
| 1y Target Est | 227.86 |
- ACCESSWIRE
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Merger of Willis Towers Watson Public Limited Company with Aon plc is Fair to WLTW Shareholders
NEW YORK, NY / ACCESSWIRE / March 17, 2020 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Willis Towers Watson Public Limited Company ("Willis ...
- MarketWatch
CFRA lowers rating on S&P 500 Financials on concerns about exposure to rising risk of recession
CFRA analyst Sam Stovall lowered his rating on the S&P 500 financial subsector to market weight from overweight on Wednesday, and said the group appears vulnerable to the rising risk of recession. Although stocks are trading at steep discounts to absolute and relative valuations, risks are rising, while interest income is at risk from the effect of a 10-year yield that is currently below 1%, Stovall wrote in commentary. "In addition, 2020 operating EPS are projected to rise 2.1% versus the 4.3% gain projected for the S&P 500," he wrote. "Finally, the CFRA proprietary reward rating input for the corresponding S&P 500 sector ETF is slightly negative, driven by the relative attractiveness of its underlying holdings and its recent performance record." Just two of the index's 65 component stocks were higher on Wednesday, insurer Aon Plc and Willis Towers Watson PLC . Aon is buying the insurance broker in a deal with a combined implied equity value of about $80 billion. Invesco Ltd was the biggest decliner, down 10%. The S&P 500 was down 3.8% and the Dow Jones Industrial Average was down 4%.
- Insider Monkey
Hedge Funds Have Never Been This Bullish On Aon plc (AON)
Coronavirus is probably the 1 concern in investors’ minds right now. It should be. On February 27th we publish an article with the title "Recession is Imminent: We Need A Travel Ban NOW". We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
- PR Newswire
SHAREHOLDER ALERT: WeissLaw LLP Investigates Willis Towers Watson, Plc
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Willis Towers Watson, Plc ("WLTW" or the "Company") (NASDAQ: WLTW) in connection with the proposed acquisition of the Company by Aon Plc ("AON") (NYSE: AON). Under the terms of the acquisition agreement, WLTW shareholders will receive 1.08 shares of AON for each share of WLTW they own, representing consideration of $193.24 based on AON's March 9 closing price.
- Zacks
Aon (AON) to Acquire Willis Towers in All-Stock Transaction
Aon (AON) to merge with Willis Towers to cater to the unmet client requirements and fight the evolving insurance industry threats.
- PR Newswire
Aon plc - Rule 2.10 Announcement - Relevant Securities in Issue
In accordance with Rule 2.10 of the Irish Takeover Panel Act, 1997, Takeover Rules 2013, Aon plc ("Aon") confirms that, as of the close of business on March 9, 2020, Aon's issued share capital, excluding treasury shares, consisted of 231,281,026 Class A ordinary shares, $0.01 nominal value per share ("Aon Shares"). Aon Shares are traded on the NYSE under the symbol AON. The International Securities Identification Number (ISIN) of the Aon Shares is GB00B5BT0K07.
- Reuters
Exclusive: Aon alleges fraud in arbitration over $300 million Brazilian deal: documents
British insurance broker Aon Plc <AON.N> has accused the founder of Brazilian health and benefits insurance broker Admix of defrauding it when it acquired the company four years ago in a 1.35 billion reais ($300 million) deal, according to arbitration and court documents reviewed by Reuters. The sale contract with Admix founder Cesar Antunes da Silva included a clause calling for Aon to pay him up to 150 million reais two years after the deal closure if certain revenue targets were met. Another 80 million reais were placed in an escrow account as guarantee for any problem in the deal, a common practice in M&A transactions.
- PR Newswire
RECOMMENDED ALL-SHARE COMBINATION of AON PLC and WILLIS TOWERS WATSON PLC
Aon plc (NYSE:AON) and Willis Towers Watson (NASDAQ: WLTW) refer to the announcement made on March 9, 2020 pursuant to Rule 2.5 of the Irish Takeover Rules ("Rule 2.5 Announcement"). Arising from a clerical error, the parties wish to provide notice of a correction to the Business Combination Agreement dated March 9, 2020 ("BCA") and an amendment to the Rule 2.5 Announcement.
- ACCESSWIRE
WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of Merger
WILMINGTON, DE / ACCESSWIRE / March 9, 2020 / Rigrodsky & Long, P.A. announces that it is investigating Willis Towers Watson Public Limited Company ("Willis Towers Watson") (NASDAQ GS: WLTW ) ...
- Bloomberg
Aon Sees $30 Billion Takeover as Answer to Age of Volatility
(Bloomberg) -- Aon Plc agreed to buy Willis Towers Watson Plc in an almost $30 billion transaction, creating the world’s biggest insurance brokerage and adding a raft of experts on everything from climate change to cybersecurity.The all-stock deal, the largest ever for the industry, will combine the second- and third-largest brokers and comes almost exactly a year after previous talks between the two companies broke down.Insurance brokers have been seeking ways to scale up their businesses advising corporate clients on new and evolving threats. Marsh & McLennan Cos., which will be supplanted as the biggest brokerage when Aon’s deal is completed, said its purchase of Jardine Lloyd Thompson Group Plc for $5.7 billion last year was a bet on the “age of risk.”“When you think about what’s going on with clients, volatility in the world is increasing,” Aon Chief Executive Officer Greg Case said in a phone interview. “All the traditional risks, just the traditional basket, is actually bigger than ever before and then now you’ve got all the non-traditional stuff kicking in.”Case and Chief Financial Officer Christa Davies will lead the combined company, according to a statement Monday.Brokerages, which help connect businesses looking for coverage with insurers, have been aggressively merging to diversify, boost commissions and serve customers who increasingly want to deal with fewer intermediaries. Willis Towers was itself formed in 2016 in an $8.9 billion merger.Willis Towers investors will receive 1.08 Aon shares for each of their shares, with existing Aon investors owning about 63% of the company once the deal is completed. Willis Towers shareholders will get about $231.99 a share in stock. That’s 16% higher than the company’s closing price on Friday.“This isn’t about bigger,” Case said in a call Monday with analysts. “This is about better.”Aon, which plans to keep its operating headquarters in London, fell 14% to $184.59 at 10:51 a.m., the biggest intraday decline in almost 11 years amid a worldwide stock-market rout. Willis Towers dropped 7.1% to $185.47. U.S. stocks plunged amid pressure from a crude-oil price war and fears of the coronavirus.What Bloomberg Intelligence Says“Aon’s proposed $30 billion acquisition of Willis Towers Watson should allow it to leapfrog Marsh & McLennan as the largest global insurance broker.”\--Matthew Palazola, senior analystLast year, Aon and Willis Towers pulled the plug on a proposed combination less than 24 hours after preliminary talks leaked. A Bloomberg News report thrust the discussions into the public, making it difficult for Aon to move forward because it was still refining the terms of its offer, people familiar with the matter said at the time.Irish regulations forced the disclosure of early-stage talks last year. Aon said at the time that it reserved the right within 12 months to set aside its announcement that it wasn’t intending to pursue a deal. While Aon was restricted from reaching out to Willis Towers for at least a year, the target was free to approach its pursuer, according to a person familiar with the matter.Earnings ImpactThe deal will add to earnings in the first full year of the combination, and provide annual pretax synergies and cost reductions of about $800 million by the third year, according to the statement. Willis Towers CEO John Haley will become executive chairman.“Although expense synergies make the deal financially attractive, both companies’ management teams described the ability to better address client needs as the primary rationale,” analysts at Keefe, Bruyette & Woods said in a note.Both companies expect the deal to be completed in the first half of 2021 after securing regulatory approvals. Aon’s Case said he was optimistic about the company’s chances of obtaining all key approvals. Marsh & McLennan and JLT ended up agreeing to sell an aerospace business as part of the European Commission’s review of their deal last year.“We view the proposed transaction as highly complementary,” Aon’s Case said. “It’s a very, very competitive industry and we’re confident that we’re going to be able to obtain the necessary approvals.”The risk of a global economic slowdown caused by the coronavirus didn’t phase Case. The deal, he argued, was beneficial for the company in the long run and only proved how both Aon and Willis Towers need to be able to help clients navigate an increasingly tumultuous environment.“The world’s a difficult and complex place,” Case said on the analysts’ call. “But in times of turmoil, listen, who better than us? This is what our mission’s about, to help clients address challenges.”\--With assistance from Aaron Kirchfeld and Ben Scent.To contact the reporter on this story: Katherine Chiglinsky in New York at kchiglinsky@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Aon buys Willis for $30 billion in world's largest insurance deal
The acquisition, the insurance sector's largest ever, unifies the second and third largest brokers globally into a company worth almost $80 billion, overtaking market leader Marsh & McLennan Companies Inc <MMC.N>. Aon had scrapped plans last year to pursue a merger with Willis, a day after media reports forced it to reveal it was in the early stages of considering an all-stock offer for the Irish-domiciled company. This also weighed on Aon, whose shares dropped 16% on Monday, much more than the 8% drop in Willis shares.
- MarketWatch
Aon to buy Willis Towers Watson in all-stock deal
Aon said it's buying insurance broker Willis Towers Watson in an all-stock deal the firms say gives an implied combined equity value of approximately $80 billion. Terms call for each Willis Tower Watson share to be exchanged for 1.08 Aon shares in a deal that will give Aon shareholders 63% of the combined firm. Based on Aon's March 6 close, the offer values each Willis Towers Watson share at $231.99, a 16% premium. The companies expect $800 million per year in pre-tax cost synergies in the third year.
- PR Newswire
Aon to Combine with Willis Towers Watson To Accelerate Innovation on Behalf of Clients
Aon plc (NYSE:AON) and Willis Towers Watson (NASDAQ: WLTW) today announced a definitive agreement to combine in an all-stock transaction with an implied combined equity value of approximately $80 billion.4
- Zacks
Arthur J. Gallagher (AJG) Acquires Insurance Broker CMS
Arthur J. Gallagher (AJG) buys CMS to support its construction and real estate practice and further expand its subsidiary.
- Zacks
Aon (AON) Down 5.3% Since Last Earnings Report: Can It Rebound?
Aon (AON) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- TipRanks
Billionaire Ken Griffin Pulls the Trigger on 3 “Strong Buy” Stocks
While the economy is booming, there are some warnings signs starting to flash. Hedge fund manager Ken Griffin – who started trading at age 19, and now at 51 has amassed a fortune worth $15 billion – spoke about some of the near- and long-term risks in a recent interview.Griffin sees inflation as a danger in the longer term, mostly because the financial experts lack tools to determine when inflationary trends are starting. Griffin recounts how his firm’s best analysts were caught flat-footed in 2018 when the Fed started raising rates. Regarding the lack of accurate predictive foresight, Griffin says, “If there were inflation, the markets are utterly and completely unprepared for that.”But inflation, being invisible for now, is a long-term worry. Griffin sees the coronavirus outbreak has a larger threat, at least for the present. Griffin notes that a number of major companies – Apple is a particularly good example – have already announced lower Q4 and Q1 earnings, disrupted supply chains, and even store closings in response to the viral epidemic as it expands out of China. Griffin describes the epidemic as “probably the most concrete short-run risk we see in the financial markets globally.”The coronavirus is even impacting diplomacy. Griffin points out that specific terms of the US-China Phase 1 trade agreement have not yet begun implementation. The agreement puts an obligation on China to increase imports of US products on the order of $200 billion for the next two years – but that is on hold with large parts of China paralyzed by quarantines and global trade and travel patterns facing growing disruption.So, it may be interesting to see which stocks Griffin is willing to buy, given his view of the risks ahead. A look at the most recent 13F filing by Citadel, his hedge fund, reveals three new positions that TipRanks’ Stock Screener reveals as “strong buys.” Let's take a closer look.NexTier Oilfield Solutions (NEX)The first of Griffin’s new positions, we’ll look at is NexTier, a player in the oil field support services sector. Companies like NexTier don’t actually drill for oil, but they provide the support that the exploration and drilling operators need get the oil out of the ground. Without this support – the rig services, well completion, pumps and piping for fracking operations, and fluid management and disposal – the great oil fracking boom that has helped to power the US economy over the past 15 years could not have occurred.NEX is a new ticker in the market, formed during the third quarter last year when Keane Group and C&J Energy Services merged. The name change to NexTier reflects that the transaction was a merger of equals. NEX inherited the performance legacy of Keane, and the combined company reported Q3 earnings and revenues above the forecasts. It was the second quarter in a row that the company beat expectations. Looking ahead, the company will be reporting Q4 results on March 10, and is guiding for a net loss of 2 cents per share. The company is also guiding revenue in the $640 to $660 million range, slightly higher than previous guidance.So, we have a well-positioned services company in the oil industry – and Griffin’s fund bought up 6.169 million shares. That purchase represents a new stake for Citadel, and it’s worth over $30 million dollars at today’s prices.Conventional wisdom says the move is worth it. Sean Meakim, reviewing the stock for JPMorgan, is even more bullish. He writes, “We view NexTier as a leader in the industry in terms of driving technology improvements, and think it can continue to make strides in 2020to offset the macro headwinds. We model NEX delivering FCF of ~$50mm in 4Q19, sufficient to provide fuel for the company’s $100mm capital distribution plan…”Meakim puts a $9 price target on NEX shares, suggesting room for an impressive 84% upside potential. (To watch Meakim’s track record, click here)Overall, NexTier has a Strong Buy rating from the analyst consensus, based on 4 Buys and 1 Hold. The average price target of $7.90 implies an upside of 74% for the coming year. (See NexTier stock analysis at TipRanks)Aon Plc. (AON)Next on our list of new Citadel positions is Aon, a $50 billion player in the professional services and risk management industry. Aon is known as a major insurance broker, and works with large-scale clients to negotiate and place insurance policies, advise on health and other benefits, organize retirement compensation schemes, and even outsource human resources.Aon’s revenues and stock performance have been on an upward trajectory over the past year. In Q4 2019, the company reported $2.89 billion in total revenue, in line with the forecast and the year-ago number by 4%. EPS, at $2.53, was 1.6% higher than expected and most impressive 74% above the Q4 2018 figure.Share gains have been impressive, too. AON is up over 30% in the past 12 months. Complementing the share gains, AON also offers a modest dividend. At 0.79%, the yield is nothing to write home about, the share price is high enough that the annualized payment is $1.76 per share. It’s small addition for investors to count among the gains.Griffin clearly is impressed by the prospective gains here. His fund snapped up over 350,000 shares of Aon, which are now worth $77.9 million.Covering AON for Wells Fargo, analyst Elyse Greenspan writes, “We think AON is positioned to outperform as a stand-alone company or if they acquire WLTW. We believe a stand-alone AON is positioned to see industry-leading organic revenue growth and has several tailwinds to its FCF in 2020. If there is a deal, it would likely be because AON believes they can pull a healthy level of expenses out of WLTW without significant revenue disynergies. Recall AON and WLTW entered into deal negotiations last year that were called off in March 2019 and the one-year stand still on discussions ends on 3/6/20. Further, AON’s CEO has been an expense master during his tenure at AON and has been able to consistently pull expenses out of the company."Greenspan's $265 price target suggests an upside potential for AON of 20%. More importantly, she upgraded her stance on the stock, shifting from Neutral to Buy. (To watch Greenspan’s track record, click here)Aon’s Strong Buy consensus rating is supported by 5 analyst reviews, including 4 Buys and just 1 Hold. The stock is selling for $237.25, and the average price target of $237.25 indicates room for a modest 7% upside. (See Aon stock analysis at TipRanks)Digital Realty Trust (DLR)The final stock on our list is a Real Estate Investment Trust (REIT), specializing in data center and other tech-related properties. DLR owns properties around the world, in 15 countries, and boasts over 210 operating data centers. Like all REITs, Digital is required by US tax law to pay back the bulk of its profits to investors.Those profits can be substantial, as the company brings in over $3 billion annually on the top line. Earnings were robust in Q4 2019, at $1.62 per share. Estimated EPS for Q1 2020, to be reported in April, is $1.59.With robust earnings, DLR has no problem maintaining its dividend payments. Most REITs pay out strong dividends, as it is an easy way to remain in compliance with tax code regulations on profit sharing. DLR offers a 3.3% dividend yield, paid out quarterly at $1.08 per share. The payout ratio, which compares the quarterly dividend payment to the quarterly earnings, is 66.7%, indicating that the company can easily sustain the dividend given current income levels. DLR has raised its payment in each of the last three years.Strong earnings, a reliable dividend, and a pattern of long-term gains (this stock is up 34% over the last three years) are exactly the features that will attract attention from a hedge fund. So, it should be no surprise that Griffin’s fund picked up over 249,000 shares of DLR in Q4. Like the other stocks in this article, this is a new position for Griffin. At current prices, the fund’s stake in Digital Realty is worth $35.6 million.Weighing in on the stock for SunTrust Robinson, 5-star analyst Greg Miller is upbeat, saying, "We believe investors will continue to respond favorably to the execution of the business model. Sequentially higher 4Q signed leasing is not typical, underscoring DLR’s momentum… we believe the stock will continue to move higher."Miller’s Buy rating is supported by his $152 price target, which suggests room for 16% upside growth to the stock. (To watch Miller’s track record, click here)Wall Street’s analysts have given DLR 6 Buys and 2 Holds recently, making the consensus view a Strong Buy. The average price target is $137, which implies a small premium of 5% from the current share price of $130.38. (See Digital Realty stock analysis at TipRanks)
- PR Newswire
CarrierHQ provides certainty for truck-owner operators while AB5 gets worked out
CarrierHQ, a leading software and solutions developer for the motor carrier industry, today announced that its innovative mobile-friendly portal is now available in California. CarrierHQs technology provides a comprehensive solution to reclassification and recruiting issues faced by large fleets and brokers by enabling independent contractors to form or grow their own fleets, thus helping large transportation companies avoid the major pitfalls that have recently befallen firms in the industry, while also increase operational capacity.
- Zacks
Top Ranked Growth Stocks to Buy for February 25th
Top Ranked Growth Stocks to Buy for February 25th
- GuruFocus.com
Jeff Auxier Buys 5 Stocks in 4th Quarter
Guru also gains position in ViacomCBS Continue reading...
- PR Newswire
Aon Further Aligns Leadership Team to Deliver More Value to Clients and Increase Momentum of Aon United Growth Strategy
Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, is accelerating alignment and momentum around its Aon United growth strategy with a series of actions that support bringing the best of Aon to clients and driving sustainable growth of the firm.
- Investopedia
Who Are Willis Towers Watson's Main Competitors? (WLTW)
Following a 2015 merger, Willis Towers Watson PLC is now one of the largest insurance advisory and brokerage firms. These are its competitors in the industry.
- Zacks
Arthur J Gallagher Hits 52-Week High on Solid Q4 Results
Arthur J. Gallagher (AJG) reaches 52-week high, driven by strong fourth-quarter results and recent buyout.
- Reuters
Australia says 2019/20 wheat harvest drops to lowest in 12 years
Australia said on Tuesday its 2019/2020 wheat harvest was the lowest in 12 years, missing its forecast, as a severe drought across the east coast wilted crops. Australia's chief commodity forecaster said in December it expected wheat production during the 2019/2020 season to total 15.85 million tonnes. The east coast recorded little rain over the season.
- Yahoo Finance
Golf star Francesco Molinari: Why I use big data
Yahoo Finance speaks with golf major champion winner Francesco Molinari about his use of big data to improve his odds of winning the biggest tournaments in the game.
