Phoenix Financial Ltd. Takes $1.15 Million Position in Aon plc $AON

Phoenix Financial Ltd. purchased a new stake in shares of Aon plc (NYSE:AON) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,143 shares of the financial services provider’s stock, valued at approximately $1,152,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of AON by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 19,778,451 shares of the financial services provider’s stock valued at $7,893,382,000 after buying an additional 258,699 shares during the period. Bank of New York Mellon Corp raised its position in shares of AON by 18.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,034,062 shares of the financial services provider’s stock valued at $1,210,864,000 after buying an additional 469,238 shares during the period. Polen Capital Management LLC raised its position in shares of AON by 318.1% during the 1st quarter. Polen Capital Management LLC now owns 3,007,719 shares of the financial services provider’s stock valued at $1,200,350,000 after buying an additional 2,288,397 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of AON by 2.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,390,571 shares of the financial services provider’s stock valued at $954,053,000 after buying an additional 61,350 shares during the period. Finally, Northern Trust Corp raised its position in shares of AON by 6.1% during the 1st quarter. Northern Trust Corp now owns 2,290,619 shares of the financial services provider’s stock valued at $914,163,000 after buying an additional 131,676 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

AON Stock Performance

Shares of AON stock opened at $343.36 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.93. The firm has a fifty day moving average price of $362.37 and a 200 day moving average price of $360.63. The company has a market cap of $74.04 billion, a P/E ratio of 28.76, a PEG ratio of 2.02 and a beta of 0.89. Aon plc has a 12 month low of $323.73 and a 12 month high of $412.97.

AON (NYSE:AON) last issued its earnings results on Friday, July 25th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.09. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.16 billion. AON had a net margin of 15.54% and a return on equity of 50.91%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Sell-side analysts predict that Aon plc will post 17.21 earnings per share for the current fiscal year.

AON Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, November 3rd. AON’s dividend payout ratio is currently 24.96%.

Analyst Upgrades and Downgrades

AON has been the topic of several analyst reports. Barclays reaffirmed an “overweight” rating and set a $420.00 price target (up previously from $401.00) on shares of AON in a research report on Thursday, July 31st. Cantor Fitzgerald upgraded shares of AON to a “strong-buy” rating in a report on Wednesday, August 13th. Wells Fargo & Company dropped their target price on shares of AON from $451.00 to $448.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of AON from $436.00 to $433.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Finally, Jefferies Financial Group upgraded shares of AON from a “hold” rating to a “buy” rating and lifted their target price for the company from $400.00 to $426.00 in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $420.00.

AON Profile

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.