Lord Abbett & CO. LLC Purchases 22,878 Shares of Aon plc $AON

Lord Abbett & CO. LLC grew its position in shares of Aon plc (NYSE:AON) by 9.2% in the 4th quarter, HoldingsChannel reports. The firm owned 272,046 shares of the financial services provider’s stock after acquiring an additional 22,878 shares during the quarter. Lord Abbett & CO. LLC’s holdings in AON were worth $96,000,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC bought a new stake in AON during the third quarter worth about $25,000. Eagle Bay Advisors LLC bought a new stake in AON during the fourth quarter worth about $30,000. Strive Asset Management LLC bought a new stake in AON during the third quarter worth about $35,000. Measured Wealth Private Client Group LLC bought a new stake in AON during the third quarter worth about $37,000. Finally, Salomon & Ludwin LLC lifted its stake in AON by 39.3% during the fourth quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

AON Stock Up 0.1%

Shares of NYSE:AON opened at $335.51 on Friday. Aon plc has a 1 year low of $304.59 and a 1 year high of $381.00. The company has a market cap of $71.66 billion, a PE ratio of 18.41, a P/E/G ratio of 1.76 and a beta of 0.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95. The stock’s 50-day moving average is $322.69 and its 200 day moving average is $332.68.

AON (NYSE:AON) last announced its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the previous year, the business earned $5.67 EPS. AON’s revenue was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Aon plc will post 19.1 EPS for the current year.

AON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.82 per share. The ex-dividend date was Friday, May 1st. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. This is a boost from AON’s previous quarterly dividend of $0.75. AON’s dividend payout ratio (DPR) is presently 16.36%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of AON in a research note on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AON in a research note on Tuesday, April 21st. Citigroup lifted their price target on AON from $412.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods dropped their price target on AON from $416.00 to $401.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, Barclays lowered their target price on AON from $381.00 to $372.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $396.81.

About AON

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.