Aon plc $AON Stake Boosted by OLD National Bancorp IN

OLD National Bancorp IN raised its position in shares of Aon plc (NYSE:AON) by 8.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,400 shares of the financial services provider’s stock after buying an additional 2,100 shares during the quarter. OLD National Bancorp IN’s holdings in AON were worth $8,521,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in AON by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,171,049 shares of the financial services provider’s stock valued at $7,117,960,000 after purchasing an additional 191,658 shares during the period. Capital World Investors grew its holdings in shares of AON by 1.5% during the fourth quarter. Capital World Investors now owns 12,252,904 shares of the financial services provider’s stock valued at $4,323,850,000 after buying an additional 176,207 shares in the last quarter. State Street Corp raised its position in AON by 1.2% during the third quarter. State Street Corp now owns 9,229,464 shares of the financial services provider’s stock valued at $3,291,048,000 after buying an additional 105,154 shares during the period. Dodge & Cox lifted its stake in AON by 126.6% in the 4th quarter. Dodge & Cox now owns 7,852,456 shares of the financial services provider’s stock worth $2,770,975,000 after acquiring an additional 4,387,773 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in AON by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 5,141,363 shares of the financial services provider’s stock worth $1,810,726,000 after acquiring an additional 28,066 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AON shares. Mizuho dropped their target price on AON from $394.00 to $389.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. UBS Group decreased their price target on shares of AON from $385.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, June 16th. Barclays dropped their price objective on shares of AON from $381.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods cut their target price on shares of AON from $416.00 to $401.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, Piper Sandler decreased their target price on shares of AON from $360.00 to $355.00 and set an “overweight” rating for the company in a research note on Monday, June 15th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, AON currently has a consensus rating of “Moderate Buy” and an average price target of $394.94.

AON Trading Up 3.9%

NYSE:AON opened at $328.40 on Friday. The company has a market capitalization of $70.14 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.66 and a beta of 0.71. The stock’s 50 day moving average price is $322.53 and its 200 day moving average price is $330.87. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. Aon plc has a 52 week low of $304.59 and a 52 week high of $381.00.

AON (NYSE:AON) last posted its 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 net margin of 22.54% and a return on equity of 43.50%. The firm had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the previous year, the company earned $5.67 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts forecast that Aon plc will post 19.09 EPS for the current fiscal year.

AON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.82 dividend. This is a boost from AON’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 1st. AON’s dividend payout ratio is currently 18.00%.

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.