Illinois Municipal Retirement Fund Boosts Holdings in Aon plc $AON

Illinois Municipal Retirement Fund raised its position in Aon plc (NYSE:AON) by 61.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,726 shares of the financial services provider’s stock after acquiring an additional 4,469 shares during the period. Illinois Municipal Retirement Fund’s holdings in AON were worth $4,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AON. Saudi Central Bank acquired a new position in AON during the 1st quarter worth approximately $31,000. Atlantic Union Bankshares Corp acquired a new position in AON during the second quarter worth $31,000. Pinnacle Bancorp Inc. lifted its holdings in AON by 56.9% in the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 33 shares during the period. Trust Co. of Toledo NA OH acquired a new position in shares of AON during the 2nd quarter worth $32,000. Finally, HHM Wealth Advisors LLC increased its holdings in shares of AON by 54.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 29 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Stock Performance

Shares of AON stock opened at $350.17 on Thursday. The firm has a market capitalization of $75.26 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. The company has a 50 day moving average price of $352.72 and a 200 day moving average price of $357.57. Aon plc has a one year low of $323.73 and a one year high of $412.97. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.52 and a current ratio of 1.52.

AON (NYSE:AON) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.97 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.72 EPS. Sell-side analysts anticipate that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a dividend of $0.745 per share. The ex-dividend date is Monday, November 3rd. This represents a $2.98 annualized dividend and a dividend yield of 0.9%. AON’s payout ratio is presently 23.88%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AON. Piper Sandler increased their target price on shares of AON from $393.00 to $413.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Weiss Ratings downgraded AON from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 7th. Barclays reaffirmed an “overweight” rating and issued a $420.00 price target (up previously from $401.00) on shares of AON in a report on Thursday, July 31st. TD Cowen lowered their target price on AON from $419.00 to $416.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. cut their price target on AON from $436.00 to $433.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $419.13.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.