Strategic Investment Advisors MI grew its holdings in shares of Aon Plc (NYSE:AON) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,700 shares of the financial services provider’s stock after purchasing an additional 113 shares during the period. Strategic Investment Advisors MI’s holdings in AON were worth $359,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AON. Nachman Norwood & Parrott Inc purchased a new position in shares of AON during the 3rd quarter worth approximately $28,000. NEXT Financial Group Inc bought a new stake in shares of AON during the 3rd quarter valued at $33,000. Magellan Asset Management Ltd raised its stake in shares of AON by 67.1% during the 3rd quarter. Magellan Asset Management Ltd now owns 269 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 108 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of AON by 68.9% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 272 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 111 shares during the period. Finally, Prestige Wealth Management Group LLC raised its stake in shares of AON by 100.7% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 283 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 95.71% of the company’s stock.
A number of research firms recently issued reports on AON. Zacks Investment Research upgraded AON from a “sell” rating to a “hold” rating and set a $217.00 price objective on the stock in a research note on Tuesday, October 6th. Piper Sandler cut AON from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $228.00 to $187.00 in a research report on Monday, November 2nd. Evercore ISI initiated coverage on AON in a research report on Thursday, December 17th. They set an “inline” rating and a $231.00 target price for the company. Finally, Morgan Stanley reduced their target price on AON from $221.00 to $219.00 and set an “equal weight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. AON currently has an average rating of “Hold” and a consensus target price of $214.00.
AON opened at $206.90 on Thursday. The stock has a 50-day moving average price of $207.51 and a 200-day moving average price of $201.92. Aon Plc has a 12-month low of $143.93 and a 12-month high of $238.19. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.00. The stock has a market capitalization of $47.30 billion, a P/E ratio of 26.70 and a beta of 0.83.
AON (NYSE:AON) last issued its earnings results on Wednesday, November 4th. The financial services provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.04. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.32 billion. AON had a return on equity of 65.00% and a net margin of 16.56%. AON’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 EPS. On average, equities research analysts predict that Aon Plc will post 9.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Monday, February 1st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, January 29th. AON’s dividend payout ratio is presently 20.07%.
AON announced that its Board of Directors has authorized a stock repurchase plan on Friday, November 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 10.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Aon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captive insurance solutions provider; and health solutions, such as health and benefits brokerages, and health care exchanges.
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