AMF Tjanstepension 13F: Cuts AON Stake by $17M
Key Points
- AMF Tjanstepension cut its position by 61,421 shares, lowering its stake by 49.9% to end with 61,422 shares worth about $17.0 million.
- Other large institutional investors adjusted their bets, with Dodge & Cox Inc. adding 477,217 shares and Massachusetts Financial Services Co. trimming 743,067 shares.
- Insiders made several moves ahead of the filing, including General Counsel Darren Zeidel selling shares and Director Lester B Knight III buying 20,000 shares.
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AMF Tjanstepension cut its stake in Aon plc (NYSE:AON) nearly in half, according to a Form 13F filing with the SEC on October 22, 2026. The firm sold off 61,421 shares during the period. That left the fund holding 61,422 shares with a reported value of $16,999,767.
AON
Aon plc
What Changed in AMF Tjanstepension's Aon Position
The fund reduced its holdings by a sharp 50.0% compared to the previous quarter. Before the trade, AMF Tjanstepension owned 122,843 shares of the professional services firm. The remaining stake of 61,422 shares reflects a much smaller footprint in the insurance broker as institutional views shift.
Other Institutional Activity in Aon
Other large money managers also adjusted their positions in the insurance broker recently. Dodge & Cox Inc. grew its holdings by 477,217 shares, ending with 8,593,144 shares worth about $2,636,376,474 following a 5.9% increase. At the same time, Massachusetts Financial Services Co. trimmed its position by 743,067 shares, down 8.9% to finish with 7,615,397 shares valued at roughly $2,336,403,706.
Aon plc Stock Holds Steady
Shares of Aon traded recently around $294.35 as of October 22, 2026. The stock sits below its 50-day moving average of $307.74 and below its 200-day moving average of $327.11. The share price rests 23.0% below its 52-week high of $382.34 and 10.5% above its 52-week low of $266.33.
Recent Earnings
Aon reported trailing-twelve-month revenue of $17,577,000,960 alongside earnings of $18.14 per share. The company generated a net profit margin of 22.3% and a return on equity of 44.7%. Investors will look toward the upcoming earnings report on October 28, 2026, for fresh details on financial performance.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 target cuts vs 1 raises.
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EPS & revenue
EPS met estimates. Revenue met estimates.
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Profit surprise
EBITDA missed by 5 percent. Operating income missed by 9 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 3 target cuts.
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Earnings quality
Gross margin up 35.2 points. Operating margin up 5.0 points. Positive free cash flow.
Earnings Call Summary
Aon delivered strong first quarter results with 5 percent organic revenue growth and 14 percent adjusted earnings per share growth on slightly lower reported revenue of 5.03 billion dollars. Management highlighted broad-based strength in Commercial Risk, which grew 7 percent for the fourth consecutive quarter above 6 percent, driven by new hires in construction and data centers, plus strong retention in mid-90s. The company emphasized that artificial intelligence and advanced analytics are now driving both revenue gains and margin expansion through tools like Broker Copilot and Claims Copilot, with plans to invest 1.3 billion dollars in talent and technology through 2026.
Guidance Aon reaffirmed its full year target for mid-single-digit or better organic revenue growth and 70 to 80 basis points of operating margin expansion. The company expects continued momentum from new business wins, revenue-generating hires, and growing demand in data center and workforce solutions throughout 2026.
Very weak report. The release materially worsened the forward outlook.
Dividend
Aon pays an annual dividend of $3.28 per share, which translates to a dividend yield of 1.11%. The company distributes 16.8% of its earnings as dividends to shareholders.
Insider Buying and Selling at Aon plc
Company insiders were active in the stock leading up to the filing. General Counsel Darren Zeidel made multiple sales, including 600 shares at $360.00 apiece on July 7, 2026, for a total of $216,000. Zeidel later sold 1,950 shares worth $725,500 on July 17, 2026, and another 1,900 shares valued at $717,750 on July 28, 2026. On the buying side, Director Lester B Knight III picked up 20,000 shares on September 2, 2026, for a total of $6,549,688.
Analysts Set New Price Targets
Wall Street research firms updated their views on the stock through October. Mizuho maintained an outperform rating on October 7, 2026, while lowering its price target from $366.00 to $324.00. Barclays maintained an equal-weight rating on October 7, 2026, cutting its target from $382.00 to $317.00. Cantor Fitzgerald maintained an overweight rating on October 7, 2026, lowering its target from $433.00 to $400.00. Wells Fargo maintained an overweight rating on October 12, 2026, adjusting its target from $383.00 to $323.00. Keefe, Bruyette & Woods maintained an outperform rating on October 12, 2026, moving its target from $417.00 to $342.00. Across the broader analyst community, the stock carries a consensus buy recommendation with a mean price target of $354.21 across 19 analyst opinions.
About Aon
Aon plc operates as a professional services and risk management firm headquartered in Dublin, Ireland. It provides advice and solutions to clients across risk capital and human capital segments worldwide, helping businesses manage risk and protect their workforce.
Bottom Line
Institutional adjustments and insider transactions highlight changing sentiment around the insurance broker. Market participants will watch the upcoming earnings release on October 28, 2026, to gauge future financial health and margin trends.
Related Filing Alerts
Source: AMF Tjanstepension's 13F filing on $AON (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts