Aon plc (NYSE:AON) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in Aon plc (NYSE:AON) by 9.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,181 shares of the financial services provider’s stock after purchasing an additional 1,102 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in AON were worth $3,870,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wealthspire Advisors LLC increased its stake in AON by 3,565.1% during the 2nd quarter. Wealthspire Advisors LLC now owns 304,275 shares of the financial services provider’s stock worth $89,329,000 after buying an additional 295,973 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new stake in shares of AON during the second quarter worth approximately $548,000. GHP Investment Advisors Inc. raised its stake in AON by 1.2% in the 2nd quarter. GHP Investment Advisors Inc. now owns 25,550 shares of the financial services provider’s stock valued at $7,501,000 after purchasing an additional 315 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in AON by 21.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,650 shares of the financial services provider’s stock valued at $1,072,000 after purchasing an additional 643 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC acquired a new stake in AON during the 2nd quarter worth $598,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

AON Stock Up 0.8 %

Shares of AON opened at $350.69 on Tuesday. The company’s 50-day moving average price is $326.56 and its 200 day moving average price is $310.44. Aon plc has a 12-month low of $268.06 and a 12-month high of $353.54. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.92. The firm has a market cap of $76.25 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92.

AON (NYSE:AON) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.15). AON had a net margin of 18.00% and a return on equity of 252.81%. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period last year, the firm posted $2.76 earnings per share. AON’s revenue was up 18.4% on a year-over-year basis. On average, sell-side analysts forecast that Aon plc will post 15.23 earnings per share for the current year.

AON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.675 dividend. The ex-dividend date was Thursday, August 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 0.77%. AON’s payout ratio is presently 21.16%.

Analyst Ratings Changes

A number of brokerages have recently commented on AON. Piper Sandler increased their target price on shares of AON from $312.00 to $335.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Barclays assumed coverage on shares of AON in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $394.00 target price on the stock. Morgan Stanley dropped their price target on AON from $300.00 to $296.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Bank of America lowered AON from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $345.00 to $306.00 in a research note on Wednesday, May 22nd. Finally, Citigroup initiated coverage on AON in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $309.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $337.27.

About AON

Aon plc, a professional services firm, provides a range of risk and human capital solutions worldwide. It offers commercial risk solutions, including retail brokerage, specialty solutions, global risk consulting and captives management, and affinity programs; and health solutions, such as health and benefits brokerages, and health care exchanges.