Legacy Wealth Asset Management LLC Purchases 3,757 Shares of Aon plc $AON

Legacy Wealth Asset Management LLC grew its position in shares of Aon plc (NYSE:AON) by 115.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,999 shares of the financial services provider’s stock after buying an additional 3,757 shares during the quarter. AON accounts for approximately 0.6% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 21st biggest holding. Legacy Wealth Asset Management LLC’s holdings in AON were worth $2,496,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Saudi Central Bank bought a new stake in AON during the first quarter worth $31,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of AON during the 3rd quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of AON during the 2nd quarter worth $31,000. Trust Co. of Toledo NA OH purchased a new position in shares of AON in the 2nd quarter worth about $32,000. Finally, Pinnacle Bancorp Inc. grew its position in AON by 56.9% during the second quarter. Pinnacle Bancorp Inc. now owns 91 shares of the financial services provider’s stock valued at $32,000 after buying an additional 33 shares during the period. 86.14% of the stock is owned by institutional investors.

AON Trading Down 0.8%

Shares of AON stock opened at $350.09 on Monday. Aon plc has a 1 year low of $323.73 and a 1 year high of $412.97. The company’s fifty day simple moving average is $346.06 and its two-hundred day simple moving average is $355.50. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $75.25 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 2.00 and a beta of 0.84.

AON (NYSE:AON) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. AON had a return on equity of 48.88% and a net margin of 15.96%.The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the company posted $2.72 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts anticipate that Aon plc will post 17.21 earnings per share for the current year.

AON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, November 3rd. AON’s dividend payout ratio is presently 23.88%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AON shares. Roth Capital reiterated a “buy” rating and issued a $390.00 target price on shares of AON in a research note on Tuesday, November 4th. Barclays reaffirmed an “equal weight” rating and issued a $379.00 price target (down previously from $420.00) on shares of AON in a report on Thursday, November 20th. Wolfe Research started coverage on AON in a report on Monday, September 15th. They set a “peer perform” rating for the company. Keefe, Bruyette & Woods lowered their target price on AON from $428.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. Finally, Morgan Stanley set a $400.00 price target on AON in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $413.18.

AON Company Profile

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.