PNC Financial Services Group Inc. Has $40.51 Million Stock Position in Aon plc $AON

PNC Financial Services Group Inc. trimmed its position in Aon plc (NYSE:AON) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 114,797 shares of the financial services provider’s stock after selling 3,040 shares during the period. PNC Financial Services Group Inc.’s holdings in AON were worth $40,510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AON. Sound View Wealth Advisors Group LLC grew its position in shares of AON by 1.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,935 shares of the financial services provider’s stock worth $683,000 after buying an additional 29 shares during the period. Kathmere Capital Management LLC raised its position in shares of AON by 2.1% in the 4th quarter. Kathmere Capital Management LLC now owns 1,582 shares of the financial services provider’s stock valued at $558,000 after acquiring an additional 32 shares during the period. Westpac Banking Corp boosted its stake in AON by 5.6% during the 3rd quarter. Westpac Banking Corp now owns 620 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 33 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in AON by 1.8% during the 4th quarter. Capital Investment Advisors LLC now owns 1,882 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 33 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in AON by 39.3% during the 4th quarter. Salomon & Ludwin LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 33 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

AON Price Performance

Shares of AON opened at $324.26 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day simple moving average of $321.68 and a 200 day simple moving average of $335.02. Aon plc has a 52-week low of $304.59 and a 52-week high of $381.00. The firm has a market capitalization of $69.26 billion, a PE ratio of 17.80, a P/E/G ratio of 1.70 and a beta of 0.72.

AON (NYSE:AON) last issued its quarterly earnings data on Saturday, May 2nd. The financial services provider reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.37 by $0.11. AON had a return on equity of 43.50% and a net margin of 22.54%.The business had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the firm earned $5.67 EPS. AON’s quarterly revenue was up 6.4% compared to the same quarter last year. Sell-side analysts predict that Aon plc will post 19.07 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 given a $0.82 dividend. The ex-dividend date was Friday, May 1st. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. This is a boost from AON’s previous quarterly dividend of $0.75. AON’s payout ratio is presently 16.36%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America raised shares of AON from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $398.00 to $397.00 in a research note on Friday, February 27th. Cantor Fitzgerald upped their price objective on shares of AON from $393.00 to $412.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Morgan Stanley reduced their target price on AON from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Thursday. Piper Sandler reduced their target price on AON from $388.00 to $355.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Finally, TD Cowen reiterated a “buy” rating on shares of AON in a report on Monday, March 16th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.00.

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.